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  • Investment management 6/e
  • Marx J
  • ISBN: 9780627039126
  • eISBN: N/A
  • ePub ISBN: 9780627039133
  • 398 Pages | Published: 2021

The goal of investment management is to achieve the investor’s required rate of return by putting assets to their most productive use. The return should compensate the investor for the time during which the funds are committed, the expected rate of inflation and the uncertainty of the anticipated future financial benefits from the investment. Investment management is a concise yet comprehensive introduction to investment analysis and portfolio management, specifically in the South African context.

Investment management provides a broad framework and a thorough network of guidelines for the investment management student. It focuses on investment in financial assets such as shares and bonds, and explains both fundamental and technical analysis. It investigates portfolio management and how derivative instruments such as futures, options and swaps may be used for this purpose. A chapter is devoted to the foreign exchange market and its management, and a chapter dealing with the governance of investment management is included. By means of self-assessment questions at the end of each chapter, it prepares undergraduates for postgraduate study and is written with the Chartered Financial Analyst (CFA®) Level I learning outcomes in mind.

Investment management is aimed at undergraduate investment management students.

Johan Marx (editor) is a professor at the University of South Africa (Unisa). He is the author of five financial management publications, and has presented and published numerous articles. He has a keen interest in financial markets.

Johan de Beer lectures financial risk management at Unisa. He is a CFA® charter holder and completed his MCom on the topic of single stock futures. His particular field of interest is quantitative momentum investing.

Raphael Mpofu is a professor and the Deputy Executive Dean of the College of Economic and Management Sciences at Unisa. His research interests include financing small businesses and personal investments in emerging market economies.

Henry Mynhardt is a senior researcher in the Institute of Postgraduate Studies and Research at Stadio. He has vast experience in research and securities trading, and has a keen interest in fixed interest securities as well as corporate governance, risk and compliance management.

Part 1 The investment background

Chapter 1 The investment setting

Chapter 2 Organisation and functioning of securities markets

Chapter 3 The art and science of investment

Chapter 4 The time value of money

Chapter 5 Valuation principles and practices

Chapter 6 Fundamental analysis


Part 2 Equity analysis

Chapter 7 Industry analysis

Chapter 8 Company analysis

Chapter 9 Company valuation

Chapter 10 Technical analysis


Part 3 The analysis of bonds

Chapter 11 Bond fundamentals

Chapter 12 Valuation of bonds


Part 4 Portfolio management

Chapter 13 Portfolio management

Chapter 14 An introduction to derivative instruments

Chapter 15 Evaluation of portfolio management


Part 5 Foreign exchange

Chapter 16 Foreign exchange management

Chapter 17 The role of corporate governance in shareholder protection


Annexure A

Annexure B



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