Who is it for?
You are an ambitious recent graduate looking to develop a full range of skills to help launch your career in finance or accounting. This is a highly practical course so you’ll need to possess a high level of quantitative skills. Your coursework will involve you in examining accounting and finance from the perspective of those who use financial reports to evaluate company and managerial performance.
This one-year, full-time, expertly structured programme will provide you with the real world accounting and finance expertise that leads to a wide range of rewarding international roles.
You will acquire a sound knowledge of the theoretical foundations that underpin modern investment and risk management techniques. These principles are applied in practice via case studies and the use of online databases such as Bloomberg and simulators. The practical aspect is delivered with extensive input from City of London institutions. Many leading practitioners teach on the course, providing a vital link between theory and practice.
The MSc in Investment Management is a demanding course. During the course you will cover the traditional syllabus of a general Masters degree in finance and develop extensive expertise in a range of specialised areas such as the management of equity and bond portfolios; trading techniques; asset-liability management; risk management; alternative investments; venture capital and management of foreign exchange.
An advisory panel of senior practitioners ensures that the course remains at the forefront of developments within financial markets and reflects topical and technical developments in the marketplace.
What will you learn?
- Acquire a comprehensive grasp of the principles and applications of investment and risk management
- Develop your range of technical and conceptual skills
- Gain broad experience of quantitative techniques
- Develop your understanding of a wide range of investment and risk management issues across all industry sectors
- Network with your peers and senior finance industry professionals in the City of London
- Gain a highly valuable international, multicultural perspective
- Acquire a flexible qualification suitable for a wide range of roles inglobal investment and risk management.
Analysing common stocks properly is one of the most challenging tasks in finance, while fortunes are made and lost across the world based on advice from equity analysts. For that reason, equity analysis must be viewed within the context of the investment decision-making process. One key characteristic of the course is its integrative framework, bringing the investment–valuation–strategy trilogy together into one place for the analyst to refer to in the quest for consistent value-maximising investment recommendations.
The aim of this course is to develop an understanding of fixed income securities and their use in portfolio management so that the asset manager, the treasurer, the investment banker, the financial analyst and the trader will have the conceptual foundations for making intelligent assessments of fixed income instruments.
The main objective of the course is to give you a thorough understanding of modern portfolio theory and its implications for the pricing of assets. The course provides you with a unified approach to portfolio diversification, optimal portfolio construction and asset pricing models. There will be practical exercises in asset pricing and portfolio construction, and you will be using specialised databases and software packages to gain practical experience.
Quantitative Methods for Investment Management
This module gives an understanding of the quantitative methods involved in risk assessment and time series modelling, which are essential in testing the practice of key financial decisions involving various financial instruments. This module will provide you with the tools required for modelling financial data ranging from the classical linear regression model to nonlinear volatility modelling. Value at Risk (VaR) analysis will also be introduced as a tool for measurement and management of risks in the financial markets.
Research Methods for Finance Professionals
The module will utilise specific training in a financial modelling package in order to provide a strong foundation for the in-depth and specialist teaching and learning of terms two and three of your course. You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using.
Advanced Financial Statement Analysis
This module aims to introduce you to the measurement and recognition principles underlying financial statements. The main objectives are to (i) develop a solid understanding of the content and measurement and recognition principals of financial statements from the perspective of users of accounting information; (ii) develop the ability to analyse financial statements from the perspective of analysts and investment managers. In so doing, the module will develop fundamental skills that are important for successful security analysis.
Over the past 20 years investors have increasingly looked beyond traditional asset classes (stocks and bonds) to alternative asset classes as both a source of return and diversification. In this course, we will introduce you to two of these alternative asset classes, namely hedge funds and private equity, highlighting their pros and cons, and the role they can play in a diversified investment portfolio. This module will provide you with all the insights needed to make well-informed decisions with regard to today’s complex investment management environment.
The main objective of the module is to give you a thorough understanding of practical application of modern portfolio theory and asset pricing theories. The course provides you with a unified approach to asset management and risk management. There will be practical simulations in portfolio construction and evaluation, examples of style investing, long/short portfolio construction, market timing and asset allocation strategies and discussion of fixed income investment strategies. The coursework will be empirical, based on a simulated portfolio construction and evaluation so that you can gain practical experience. The software(s) used for this simulation may change.
The aim of the course is to develop your understanding of structured products from the point of view of both issuers and investors. A strong emphasis will be placed on understanding the factors that drive the prices of futures, forwards, options and swaps in both vanilla and exotic forms which will then be used to reverse engineer structured products. By the end of the course you should understand how existing products are structured, how they will perform in the secondary market and be capable of structuring your own products.
You may choose from the three options in your final term.
- Option one: Students can opt to write a 10,000-word Business Research Project (40 credits) and take one specialist elective module (1 x 10 credits).
- Option two: Students can opt to write a 3,000–5,000-word Applied Research Project (20 credits) and take three specialist elective modules (3 x 10 credits)
- Option three: Students can take five specialist elective modules (5 x 10 credits).
Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit.
To train you to undertake individual research and provide you with an opportunity to specialise in a contemporary business or finance topic related to your future career aspirations, you are required to submit a project of approximately 10,000 words on any subject area covered in the rest of the programme. Typical projects can involve any of the following: extracting data from electronic databases or by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business / finance issue in a particular country setting.
Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project. You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc study.
You will undertake a short piece of applied research on a question of academic and/or practical relevance. Guidelines will be provided in order to help you identify the research question. Based on your chosen topic, you must write a report of around 3,000–5,000 words that summarises and critically evaluates your method and your findings.
Electives offered in 2018
- Advanced Applied Equity Investment
- Advanced Company Valuation
- Behavioural Finance
- Corporate Restructuring
- Credit Risk Management
- Energy Markets
- Ethics, Society and the Finance Sector - BLOCK
- Financial Statement Analysis & Valuation in Banks
- Foreign Exchange
- Hedge Funds
- Mergers & Acquisitions
- Trading and Market Microstructure
- Visual Basics in Finance
- Investment Strategy (taught in New York, USA)
- Project Finance and Infrastructure Investment (taught in Madrid, Spain)
We review all our courses regularly to keep them up-to-date on issues of both theory and practice.
To satisfy the requirements of the degree course students must complete:
- eight core courses (15 credits each)
- five electives (10 credits each)
- three electives (10 credits each) and an Applied Research Project (20 credits)
- one elective (10 credits) and a Business Research Project (40 credits).
Assessment of modules on the MSc in Investment Management, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.
The MSc in Investment Management course starts with two compulsory induction weeks, including:
- An introduction to Cass Careers with a focus on the key skills and attributes that employers are looking for. The annual MSc Careers Fair at this time also provides the opportunity to meet over 60 companies who are recruiting across many sectors including finance, energy, insurance, real estate, shipping, strategic management and internal auditing.
- Database inductions, and introductions to the course, studying at Cass and financial services.
Term dates 2018/19
In-Person ID Checks (all students must attend): Commences 17 September 2018
Compulsory Induction: 17 - 28 September 2018
1 October 2018 - 14 December 2018
Term I exams
7 January 2019 - 18 January 2019
21 January 2019 - 5 April 2019
Term II exams
22 April 2019 - 3 May 2019
5 May 2019 - 2 July 2019
Term III exams
1 July 2019 - 12 July 2019
Students who are required to resit an examination or invigilated test will do so in the period:
12 - 30 August 2019
Submission deadline for Business Research Project or Applied Research Project
2 September 2019
Official Course End Date
30 September 2019
The teaching staff on the MSc in Investment Management have many years of practical experience working in the financial services sector and are also active researchers in their fields
This knowledge and experience inform the highly interactive lectures that make up the MSc in Investment Management
Module Leaders include:
How to apply
Documents required for decision-making
- Transcript/interim transcript
- Current module list if still studying
- Personal statement (500-600 words)
Documents which may follow at a later date
- IELTS/GMAT report
- Confirmation of professional qualification examinations/exemptions/passes, if applicable
- Two references
- Work experience is not a requirement of this course
- For a successful application to receive an unconditional status all documents must be verified, so an original or certified copy of the degree transcript must be sent by post to Specialist Masters Programme Office, 106 Bunhill Row, London, EC1Y 8TZ, UK
We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.
If you would like to visit us to discuss your application please do arrange an individual appointment.
A UK upper second class degree or above, or the equivalent from an overseas institution.
Some level of previous study or evidence of skills in finance or quantitative methods is essential.
A well-balanced score in the range of 600-800 will significantly strengthen your application.
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take the test.
If you have studied a 2+2 degree with just two years in the UK you will be required to provide IELTS results and possibly to resit the tests to meet our requirements.
Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study (where applicable).
Deposit: £2,000 (paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)
First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the in-person ID–checks)
Second installment: Half fees (paid in January following start of course)
Graduates are prepared for pursuing careers in asset management, wealth management, investment and private equity. Our dedicated Careers Team will help you identify your ideal career path and work with you to maximise the potential of accomplishing your professional goals.
The opportunity to tailor-make your master degree to your career aspirations is facilitated through a wide range of electives, and the possibility to undertake faculty-supervised applied research projects that blend the latest academic developments and current market practice.
Our Graduate Destination Survey of the MSc in Investment Management class of 2014 shows that 70.7% of graduates are now either in work (64%) or not job seeking as they are in further study, military service etc. (6.7%)
Some examples of where graduates from the MSc in Investment Management class of 2014 are working are:
- HSBC - Analyst
- Moody's Investors Service - Graduate Analyst
- Lloyds Banking Group - Credit Risk Analyst
You can also view results from our 2015 Graduate Destination Survey (pdf).
Course information and statistics from 15-16 Destinations of Leavers from HE
Successfully obtaining the MSc allows exemption from the exams of several following professional bodies.
See accreditation details
CFA programme partner
The CFA Institute, the global association of investment professionals, recognises the rigour and the relevance of the MSc Investment Management and has awarded this course partner status. CFA Programme Partner status is awarded to a select number of universities around the world whose degree courses incorporate at least 70% of the CFA Program Candidate Body of Knowledge. The CFA Program is the essential qualification for those wishing to pursue a career in the finance sector and the CFA Institute recognises the MSc in Investment Management as strong preparation for their professional exams.
Cass students on CFA partner courses have the option of taking some additional preparatory classes for the CFA exams. They also have access to CFA study materials (including an online Level 1 sample exam) and complimentary access to Financial Newsbrief, a daily investment brief by the CFA. In addition, there is the opportunity to take part in the CFA Global Investment Research Challenge.
Each year 5 CFA scholarships are available to Cass students, offering financial assistance with the CFA exam registration fees.
Member of CAIA Academic Partnership Programme
The Chartered Alternative Investment Analysts Association (CAIA) is an independent organisation committed to education in the field of alternative investments and is recognised globally as the hallmark of excellence.
The partnership recognises that the content of the MSc in Investment Management reflects the concepts, tools and practices required by investment professionals working with products ranging from hedge funds to commodities.
Chartered Insurance Institute (CII)
Graduates of the MSc in Investment Management will be eligible to apply for the following:
- General Insurance qualifications framework
60 non specific credits at Advanced Diploma level
- Financial Services qualifications framework
AF4 Investment Planning (30 credits at Advanced Diploma level)
30 non specific credits at Advanced Diploma Level