Portfolio Management and Public Policy

Priority Reg: IFEP Concentration. This course is designed for MIA/MPA students who aspire to careers in institutional asset management, either in the industry or at governmental/multilateral institutions. Students will explore the seminal writings that comprise Modern Portfolio Theory (MPT), which is known to all serious practitioners, as well as the challenges to that body of work. Various styles of investing will be defined and differentiated, including active vs passive, value vs growth, factor investing, non-discretionary quantitative investing, risk parity, and ESG. Students will acquire the skills to participate in investment management confidently processes common in the asset management industry, including asset allocation, portfolio construction, risk management, risk and return attribution, portfolio rebalancing, and risk and return reporting. Because this is an MIA/MPA, rather than an MBA course, it will also consider the impact of various public policies on portfolio management, including monetary policy, pension policy, tax policy, tariffs, sanctions, war, and decarbonization.