Critical evaluation and in and in-depth analysis of your trading targets, performance and strategies in each round of simulation.

Faculty of Business and Digital Technologies

AN7910 GLOBAL INVESTMENTS & PORTFOLIO MANAGEMENT

Coursework Title :    Reflection on Stock Trading Simulations Due date : Friday, 15 December 2023, 1530 (3.30 pm)

Individual Coursework

This is an individual piece of coursework with specific tasks total 100%.

Online Submission

Please save your coursework in Microsoft Word (or any compatible format) and submit it online to Canvas on or before the due date by 1530 (3:30 pm).

Please note:

All assessments submitted up to 5 working days after the deadline (i.e. 1 week late) shall be accepted as a first attempt but the substantive mark shall be capped at the minimum pass mark. Any work submitted after the 1week late submission deadline and before the deadline for permitted second attempts shall be accepted as a second attempt, capped at the minimum pass and there shall be no further opportunities for submission.

(For further details, please refer to Section B9 of the University of Winchester Assessment Regulations: Assessment Regulations (sharepoint.com))

Word limits: 2,800 words +/- 10% (excluding table of contents, list of references and appendices.

Note:

Included in the word count:

§  every word from the introduction to the conclusion, including headings/sub-headings;

§  quotations included in the body of the text;

§  in-line references/in-text citations;

-If the total wordcount of your assignment exceeds maximum length of 3,000 words + 10% (i.e. 3,080 words), then the excess work shall not be marked.

Style & Format

Style  : Report

Font size  : 11 pt (preferably Calibri)

Line spacing : 1.5 lines

References : University Harvard referencing style

Marked Coursework

The marked coursework with attached feedback will be returned to students electronically via Canvas within 15 working days.

Coursework Question 

Task 1: (Total 60%)

Global Investor is a stock trading simulation set in a fictitious world financial market but gives a real-world context to learning. For this task, you are an investment analyst of a stock investment company and are required to run TWO rounds of simulation trading in multinational companies on a global equity market.

The simulation aims to increase the value of your starting fund (i.e. £500,000) by trading in a simulated equity market consisting of fifteen companies’ shares. You are required to create a portfolio consisting of at least five companies at all times during the simulations, excluding short sales. The listed companies are based in different parts of the globe, each operating in a different sector. Further details about these companies are available at the end of this coursework.

During the simulation, you will have to employ various practical skills in the business world, including problem-solving, strategic planning and critical thinking to make pressured investment decisions. Your investment decisions will be based on the analysis of price and market data and the interpretation of news stories. Responding to breaking news and the fast-changing price/market data is the key to making the right investment decisions. You should also decide whether a news story would positively or negatively impact the share prices.

After running the two-round simulations, you are required to prepare a post-trade reflection report that can be used to improve your trading performance in the future

Your self-reflection report should include:

(a) Critical evaluation and in and in-depth analysis of your trading targets, performance and strategies in each round of simulation. (40%)

(b) Constructive suggestions for improving your future trading performance in each round of simulation(20%)

Task 2: (Total 30%)

Based on the bonds listed on the London Stock Exchange, construct a £10,000 bond portfolio, given the following ground rules:

·            Rule 1 - The portfolio must include 3 corporate bonds and 2 government bonds

·            Rule 2 - Ignore all transaction costs i.e. invest the full £10,000

·            Rule 3 - Assume all bonds have par values of £100.

·            Rule 4 - Use the current market price to determine the number of bonds invested

·            Rule 5 - The portfolio is exclusively constructed according to your investment objective 

You are required to:

(a) Prepare a schedule listing all the bonds in your portfolio and justify critically your choice of bonds. An example of the schedule is available in the coursework guideline.

Note: The schedule should be included in the main content but it is NOT included in the word count. (20 marks)

(b) Identify and discuss critically ONE bond portfolio management strategy that is best suited to the above portfolio. (10 marks)

Mark Allocation

The following marking grid would serve as a guide for the mark allocation: 

Mark allocation:

Poor  Excellent

Task 1 (60%)

(a) Critical evaluation & analysis

 

 

 

 

 

 

·     Trading targets

0

1-2

3-4

5-6

7-8

9-10

·     Trading performance

0

1-2

3-4

5-6

7-8

9-10

·     Trading strategies

0

1-2

3-4

5-6

7-8

9-10

·     Impact of EMH & technical analysis

0

1-4

5-8

9-12

13-16

17-20

(b) Constructive suggestions

0

1-2

3-4

5-6

7-8

9-10

Task 2 (30%)

(a) Bond portfolio construction

0

1-4

5-8

9-12

13-16

17-20

(b) Bond management strategy

0

1-2

3-4

5-6

7-8

9-10

Presentation, coherence and Harvard referencing (10%)

Presentation, coherence and Harvard referencing

0

1 - 2

3 - 4

5 - 6

7 -8

9 - 10

 Anonymous Marking

In summer 2019, the University Senate decided to change practice at Winchester and adopt anonymous marking for all assessments where possible. This move responds to feedback from external examiners student feedback, and we are adopting anonymous marking as a reassurance that students’ work is assessed fairly. Anonymous marking will be conducted by making each student profile in Canvas anonymous and therefore, the marker (lecturer) will not be able to identify who they are marking during the assessment process.Critical evaluation and in and in-depth analysis of your trading targets, performance and strategies in each round of simulation

As per the University of Winchester Anonymous marking policy, the Accounting, Finance, Mathematics and Economics department will mark all summative assessments, including those submitted electronically via Canvas, anonymously, unless it is not practicable to do so. Anonymous marking means that assessments will be marked without the student’s name or identity being made known to the markers in order to minimise the possibility of discrimination and bias (conscious or unconscious) informing the assessment of their work and to ensure that all students are treated equitably. Anonymity will remain until such time as the marking process is complete, after which names will be reconciled with marks for administrative processing.

There are some types of assessment where anonymous marking is not possible, e.g. for an oral examination, presentation or performance. Information about whether an assignment will be marked anonymously or not can be found in the assessment details document for that assignment on Canvas. Please ensure that in any assessments which are set to be anonymously marked, that you do not write your name on your submission in the boundary or text.Constructive suggestions for improving your future trading performance in each round of simulation

It is also the case that there are some circumstances in which, it is not advantageous or administratively viable for full anonymity to be applied. For example, anonymous marking is not always possible where a student is submitting an assignment following an extension based on extenuating circumstances, or where there are reasonable adjustments that are in place for a student that prevent their work from being marked anonymously. In addition, where students choose to waive their anonymity, e.g. by putting their name on their submitted work, work will not be marked anonymously. Finally, work cannot be marked anonymous in cases of suspected poor academic practice or academic misconduct.

When full anonymity in marking is not possible, then the Department will ensure that marks are awarded in a fair and equitable manner through our robust moderation process.

This assignment will be marked anonymously in line with the University of Winchester Anonymous Marking Policy. Please see the MSc Accounting and Finance Programme Handbook for further information.

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