Investment Management - MSc
The unpredictability of the global economy and challenges of finding the right investment, then generating the highest returns on behalf of clients mean that a career in wealth management is definitely not for the faint hearted. There’s a reason why investment management offers some of the highest salaries in the financial services sector and why there’s always demand for talented and ambitious individuals. So, if you’ve an analytical mind, thrive on pushing the boundaries and the thought of high pressure financial decisions excites you, our MSc Investment Management will prepare you to make your mark in this fast-paced, fast-growing profession.
Month of entry
- September, January
Mode of study
- Full time, Part time
Fees for 2024/25 academic year
- UK - Full time £12,700 per year. Part time £7,000 per year.
International - £21,900 per year.
Duration of study
- 1 year or up to 20 months with entrepreneurship or placement pathway. 2 years part-time or up to 24 to 36 months depending on pathway.
Why study Investment Management at Keele University?
Course summary
Fee pressures, margin compression, changing investor preferences and higher customer expectations are driving competition within the world’s financial markets, increasing the demand for highly-skilled professionals able to develop innovative, sophisticated investment management strategies which mitigate risk and maximise returns.
On our MSc, you’ll learn about the principles, tools and techniques of investment management, experiencing first-hand how to apply them in real-life financial situations, analysing case studies and working with real-world data in our state-of-the-art Bloomberg Suite. In doing so, you’ll develop the skills needed to tackle the challenges in 21st century capital markets.
You will gain an in-depth understanding of financial and management accounting, economics, international financial markets, statistical analysis, financial modelling, investment and portfolio management and derivatives and financial risk management.
Suited to graduates in finance-related subjects and those working within investment banking, financial services or the financial function of global corporations, this programme is designed to nurture future leaders in the financial services sectors, occupying key roles such as analysts, fund managers and bankers.
Course content has been purposefully designed to track the syllabus of the Chartered Financial Analyst Institute (CFA), the premier global association for investment management professionals. It will prepare you to take the CFA Level 1 exam to qualify as an analyst: we will even contribute towards your entrance fee.
You will be taught by faculty with experience of the real world of finance and business, studying alongside a diverse international body of students from a wide range of national and social backgrounds. You’ll develop as a global citizen, vital in today’s globalised world of work, expanding your professional networks and learning to appreciate different cultural backgrounds and personalities.
What you'll learn
The programme is designed to build a rigorous understanding of core finance and investment theories together with solid training in quantitative analysis. You’ll have plenty of opportunities to make extensive use of industry-standard software like STATA and other data sources, such as Bloomberg Professional Services Platforms and DataStream.
You will gain an in-depth knowledge of the nature of the modern firm and the critical differences in the capital structure between modern firms and banks, as well as the complex challenges facing the global investment management industry. We’ll also consider how to manage some of the ethical dilemmas facing the fund management industry, such as conflicts of interests, professionalism, duty to clients and employers.
While completing your MSc, you will be encouraged to prepare for and take level one of the CFA exams, so that by the time you graduate, you have the potential to achieve not only MSc, but also one-third of the training to become a qualified CFA analyst.
Other courses you may be interested in
Next steps
Course structure
You wil study a mixture of core and optional taught modules during semesters 1 and 2. After you have completed the taught modules of the course, you will undertake a large project in semester 3 to further develop your knowledge in a specific area.
Modules
The module details given below are indicative, they are intended to provide you with an idea of the range of subjects that are taught to our current students. The modules that will be available for you to study in future years are prone to change as we regularly review our teaching to ensure that it is up-to-date and informed by the latest research and teaching methods, as well as student voice. The information presented is therefore not intended to be construed and/or relied upon as a definitive list of the modules available in any given year.
Module structure
Semester 1
Core modules
ECO-40006 Economics for Investment Analysis and Business
You’ll gain an understanding of the fundamental economic forces that shape the global economic order and global trade, exploring both micro and macroeconomics from the perspective of the investment industry. You will learn the importance of the currency market in ensuring successful capital markets, and the impact of human labour on economic growth and government policies to ensure economic growth and investments.
FIN-40045 Financial Ethics and Regulations
We consider the importance of ethics and trust which sit at the core of the financial services sector. You’ll develop insight and the skills required to critically analyse the pre-requisite ethical standards, alongside a solid understanding of the legal and regulatory requirements that forms the basis of the industry.
FIN-40041 Portfolio Management and Investment Analysis
You will learn to apply modern portfolio theory, starting with a background to the portfolio industry and the basic building blocks of modern portfolio theory. You’ll examine the performance of single and multi-factor investment models, learning to assess the performance of portfolio managers in the context of market risk. Finally, you’ll be introduced to modern behavioural finance and briefly explore hedge fund strategies.
FIN-40043 Corporate Finance
Studying this module provides key insights into the modern corporate firm. We begin with the fundamentals of capital budgeting in which you’ll will learn how to value successful investment projects. This will be followed by an analysis of the capital structure of the modern firm and the role that debt and equity in different proportions play in the success of firms. You’ll go on to explore the reasons why firms pay dividends and the factors that lead to mergers of firms or acquisition of one firm by another. This module also prepares you to sit for the CFA exam.
Semester 2
Core modules
FIN-40037 Derivative Instruments
Introducing you to the modern multi-trillion-dollar derivative markets, you’ll learn about the different types of derivative instruments widely traded in the derivatives markets, including futures and option contracts, as well as those developed for specific needs, such forward and swaps contracts. You will explore the complex valuation techniques which have been developed to manage derivatives. Finally, you’ll learn how derivative instruments can be used to manage complex market positions and the catastrophic losses that may occur if they are misunderstood and misapplied.
FIN-40039 Fixed Income Securities and Credit Risk
This module tracks the CFA syllabus on fixed income securities. It provides in-depth insight into the valuation and management of the fixed income market, preparing you to sit for the CFA professional exam. Moreover, it also explores the latest methodologies to assess and measure credit risk. Finally, you’ll develop an in-depth understanding of the potential losses that can accrue due to the failures in the fixed income market.
FIN-40055 Research Methods
This module provides students with a solid foundation in modern quantitative techniques used by financial institutions. Moreover, it covers the Chartered Financial Analysts (CFA) Institute syllabus to sit for Level I and Level II exams. In addition to learning these techniques students also gain experience in applying these techniques to real data collected from Bloomberg terminals using STATA/EXCEL.
Optional modules:
You will choose two of the following:
ACC-40002 Multinational Accounting and Control
This module introduces globalisation and its implications for MNCs’ accounting and control issues. Issues such as time-horizon of decision making in global markets, corporate governance, organisation cultures and structures on decision making in MNCs will be explored together with contemporary approaches to strategic performance evaluations and control, balance score cards and activity-based costing.
ACC-40004 Contemporary Issues in AccountingThis module introduces students to a variety of contemporary issues in accounting by engaging with theoretical perspectives and empirical research. Content covered in the module will vary as conditions change, but may include intangible assets, narrative reporting, corporate social responsibility and other current topics discussed by the accounting profession, policy makers and academics.
ACC-40001 International Financial ReportingThis module provides students with knowledge and critical understanding of the requirements of the international GAAP allowing them to prepare non-group and basic group financial statements. The module explores how such financial statements may be analysed and interpreted and introduces students to measurement models and the conceptual framework adopted by the IASB.
FIN-40047 Bank Risk Management
This module examines the risks facing banks from different angles and consider the cultural environment in which banks operate in. You will explore risk both from a qualitative and a quantitative perspective, together with the in-depth calculations which need to be performed by banks to meet their regulatory risk management requirements.
FIN-40051 FinTech and Mobile Banking
Designed to provide insight into the current digital revolution and how it is radically changing the financial services of the future, this module starts by examining the underlying technology, namely the Blockchain and how this is used for digital currencies and digital banking. You will also gain an appreciation of how cybersecurity challenges lie at the heart of digital banking and digital finance.
FIN-40053 Green Finance
Studying this module will provide you with key insights into the key roles that will be played by the capital markets and financial services firms, such as banks and insurance companies, in transitioning to a sustainable world. You will examine key scientific evidence and core factors behind climate change, going on to consider some of the unique financial products developed to mitigate its impact, such as green bonds.
Semester 3
After you have completed the taught modules, you will undertake an independent project to further develop your knowledge in a specific area of management or to tackle a specific management issue within an organisation, all of which is designed to enhance your employability and research skills. You will choose one of the options below:
Dissertation
The dissertation is a formal written academic project of 12,000 words, making it ideal preparation for future academic research at MPhil or PhD level or for the report-writing and scrutiny expected of senior management professionals. Taking inspiration from your own interests, and with support throughout from a highly experienced supervisor with relevant expertise, you’ll choose an important and emerging topic to conduct either quantitative or qualitative research in the area of investment management, for example, portfolio choice, asset pricing, financial forecasting, international or corporate finance.
Consultancy project
During June and September, you will spend eight to 12 weeks undertaking a management research project on behalf of an organisation (chosen by Keele Business School). You’ll put into practice what you’ve learned, developing and applying your skills to solve a business problem, issue or focus on a specific project. As part of the eventual assessment, you’ll present your findings to the host organisation, exactly as you would do within the workplace.
Please note that participation in the Consultancy Project is only available after a comprehensive selection process. Please view our terms and conditions to find out more.
Entrepreneurship pathway
An excellent opportunity if you have an idea for a new business venture, this module will provide you with the time, space and expertise to develop it. For between eight weeks to 12 months, you’ll be given the option of a base within the University’s incubator and have access to workshops and guidance from a network of entrepreneurs and business advisers. During this time, you’ll complete a portfolio of evidence on your idea and present this to an external stakeholder. Places are limited, and you will be required to undertake an interview prior to acceptance on this module.
Please note: The Entrepreneurship pathway is available to UK Students only.
Placement pathway
In an increasingly competitive job market, employers are looking to recruit employees who have high-level knowledge, skills and workplace experience. With support from the Faculty Placement Officer, you will gain first-hand professional experience on a suitable, paid work placement for between eight weeks to 12 months. During your placement, you will be required to complete an extended project on behalf of the organisation. As part of the eventual assessment, you’ll present your findings to the host organisation, exactly as you would do within the workplace. Your placement can be based anywhere in the UK giving you the opportunity to work with local, national and international organisations.
Students who require a visa to study in the UK may be able to add in a work placement depending upon the programme. The ability to add a work placement is dependent upon the UK Immigration rules at the time of the request. It may be that for some programmes students will not have the option to request a placement period to be added to their programme before they arrive in the UK and would need to apply for a new visa. There is no guarantee that a placement will be provided and that students who have a visa are subject to a number of restrictions on the type of work, including placements they can undertake.
Next steps
Postgraduate Study with Keele Business School
As a postgraduate student at Keele Business School you will benefit from being taught in small groups by lecturers who are recognised experts in their fields.
PRME Champions
Keele Business School (KBS) has been selected for the 2024-2025 cohort of PRME Champions. Consisting of 47 businesses and management schools from around the world, The Principles for Responsible Management Education (PRME) is an initiative of the United Nations Global Compact, focused on raising the bar for sustainable business education. More information about PRME Champions can be found here.
Entry requirements
Next steps
Entry requirements
The following section details our typical entry requirements for this course for a range of UK and international qualifications. If you don't see your qualifications listed, please contact us to find out if we can accept your qualifications.
Typical offer
Please ensure that you read the full entry requirements by selecting your qualifications from the dropdown menu below. This will include any subject specific, GCSE/Level 2 Maths, and English language requirements you may need.
Please select your country from the drop-down list below for the full entry requirement information
UK
2:2 degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Bangladesh
60% in a 4-year degree or 3-year degree with a 2-year Master's in any subject from a public university or CGPA 2.8 in a 4-year degree or 3-year degree with a 2-year Master's in any subject from a private university
or
demonstrated relevant professional qualifications or experience
We don’t accept degrees from certain universities, please see our Bangladesh Country Page for more information
You will also need: an English language qualification (see below)
Canada
70% or C or a GPA of 2.5 in a degree (Ordinary or Honours) in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
China
70% in a degree in any subject or 65% in a degree in any subject from a '211' university
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Ghana
Second class degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
India
55% or CGPA 6/10 in any degree of three years or longer
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Kenya
Second class degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Nepal
60% / 2.4 in a 4-year Bachelor's degree in any subject
or
65% / CGPA 2.8 in a 3-year Bachelor's degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Nigeria
Second class degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Pakistan
We accept a range of qualifications from Pakistan. Please visit our Pakistan Country Page for more information
or we will consider demonstrated relevant professional qualifications or experience
You will also need an English language qualification (see below)
South Africa
Second class division 2 / 60% in a Bachelor's degree with Honours in any subject
or
Second class division 1 / 70% in an Ordinary Bachelor's degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Sri Lanka
55% in a Special Bachelor's degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Uganda
Second class degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Zimbabwe
Second class degree in any subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
English language requirements
All of our courses require an English language qualification or test. For most students, this requirement can be met with a 4 or C in GCSE English. Please see our English Language guidance pages for further details, including English language test information for international students. For those students who require an English language test, this course requires a test from Group B.
References
Normally, you will need to provide at least one academic reference to support your application unless you have been out of study longer than two years. If it has been more than two years since you last studied on a degree-level programme, you will normally need to provide an employment reference instead. For more information about Academic References, please see our Postgraduate how to apply web pages.
Personal Statement/Statement of Purpose
Please see our Postgraduate how to apply web pages for guidance on what to include in your personal statement.
Recognition of Prior Learning
The Recognition of Prior Learning (RPL) is a process which enables applicants to receive recognition and formal credit for learning acquired in the past through formal study or work and life experiences.
RPL can also be requested for admission onto the start of a programme in lieu of the admission requirements. For more information, see our Recognition of Prior Learning web pages.
Professional qualifications and work experience
The majority of our courses will consider relevant work experience and/or professional qualifications at the appropriate level, as an alternative to an undergraduate degree for entry. The work experience should be for a sustained period and at a suitable level, based within a relevant sector to your chosen course.
Admissions staff will review your work experience and/or professional qualifications during the assessment of your application to ensure suitability in terms of relevancy, level and appropriate learning outcomes.
General information
The entry grades outlined in this section indicate the typical offer which would be made to candidates, along with any subject specific requirements. This is for general information only. Keele University reserves the right to vary offer conditions depending upon a candidate's application.
Funding
Living costs
Keele University is located on a beautiful campus and has all the facilities of a small town. Student accommodation, shops, restaurants and cafes are all within walking distance of the teaching buildings. This is a very cost effective way to live and to reduce your living costs.
Scholarships and funding
We are committed to rewarding excellence and potential. Please visit ourscholarships and bursaries webpage for more information.
Please note, if your course offers a January start date, the January 2024 start date falls in the 2023/24 academic year. Please see the 2023/24 academic year fees for the relevant fees for starting this course in January 2024.
Planning your funding
It's important to plan carefully for your funding before you start your course. Please be aware that not all postgraduate courses and not all students are eligible for the UK government postgraduate loans and, in some cases, you would be expected to source alternative funding yourself. If you need support researching your funding options, please contact our Financial Support Team.
For continuing students, fees will increase annually by RPIX, with a maximum cap of 5% per year.
Next steps
Your career
Career options with specialist investment management are broad and varied – you could pursue roles in banks, brokerage firms, credit unions, insurance companies and well-known financial institutions like Vanguard, JP Morgan Chase, Goldman Sachs, Citigroup, HSBC, Merrill Lynch, to name just a few.
As a graduate of this programme, you will be well prepared for senior positions in investment banking, asset management and financial analysis. Graduates from Keele Business School work for major employers including the Bank of England, Campus Group, Grant Thornton and Eastern International University Vietnam.
Our educational programmes and the learning environment at Keele is designed to help you to develop further as a well-rounded postgraduate and a critical thinker who is capable of making a positive and valued contribution in a complex and rapidly changing global world, whichever spheres of life you engage in during and after your studies at Keele.
Team building, group work, research, presentations and projects will help you develop essential skills, such as business planning, decision-making, problem-solving, communication, delegation and time management.
Should you wish to continue your studies, you’ll be placed to pursue further postgraduate studies at MPhil or PhD level. You will also be prepared for a career in research in economics, finance and banking.
Our graduates obtained positions as:
- Alternative investment analyst
- Financial analyst
- Fund manager
- Hedge fund manager
- Portfolio manager
- Private equity associate
- Risk manager
- Stockbroker
Next steps
Teaching, learning and assessment
How you'll be taught
Our teaching and learning strategy is wide-ranging and innovative, seeking to give you a rich learning environment that draws actively upon leading edge research, as well as current business practice. It includes traditional lectures, workshops and small group tutorials and innovative approach of flipped classes which, through debate, discussion and case study, will encourage you to become a socially responsible business thinker.
A key strength of our programme is our commitment to developing your critical thinking and practical skills, whether you are preparing for an academic or professional career. The carefully designed modules combined with research and other placement-related projects will give you valuable insight into the interface between theory and real-world accounting practice
You’ll gain hands-on experience of terminal function and portfolio management, practising some of the core financial concepts, such as economic indicators, currencies, fixed income and equities, in the Bloomberg Suite, with the option to gain the Bloomberg Marketing Concepts (BMC) certificate. Bloomberg experience is important if you wish to pursue a career such as a fund manager, investment analyst, consultant or academic. Bloomberg’s professional service is a powerful platform for financial professionals that delivers real-time data and news and contains a wide range of analytical tools for asset valuation and portfolio and risk management. This platform is used by banks and other financial services organisations in their daily operations.
Our Grand Challenges lecture series invites speakers to provide fresh perspectives on the political, ethical and intellectual problems we face as a world today, while our Lunchtime Lectures centre on leadership in the context of complexity and inclusion
Teaching takes place over the first two semesters. There are no formal group classes during Semester 3, but you consult with supervisors and access the University’s learning and teaching facilities and support services.
- Semester 1 runs from the end of September to the end of January, with an assessment period in January.
- Semester 2 runs from the last week of January to the middle of June, with the assessment period in June.
- Semester 3 runs from June to the end of September.
How you'll be assessed
Assessment is varied and includes the use of group and individual essays, reports, presentations, exams and practical projects. Most modules combine multiple forms of assessment.
Where possible, assessment is designed to reflect skills and practices in the workplace, including team working, idea generation, critical thinking, problem solving, meeting deadlines and so on, so you get a feel for the pressures of everyday working life. You may, for example, be tasked with preparing a report and presentation on how to measure the performance of a real company by accessing financial and non-financial data from Bloomberg.
Next steps
Keele Postgraduate Association
Keele University is one of a handful of universities in the UK to have a dedicated students' union for postgraduate students. A fully registered charity, Keele Postgraduate Association serves as a focal point for the social life and welfare needs of all postgraduate students during their time at Keele.
Hugely popular, the KPA Clubhouse (near Horwood Hall) provides a dedicated postgraduate social space and bar on campus, where you can grab a bite to eat and drink, sit quietly and read a book, or switch off from academic life at one of the many regular events organised throughout the year. The KPA also helps to host a variety of conferences, as well as other academic and career sessions, to give you and your fellow postgraduates the opportunities to come together to discuss your research, and develop your skills and networks.
Our expertise
Our expertise
KBS staff have extensive teaching, research and industrial experience in a variety of fields both in the UK and internationally. The School maintains a strong commitment to excellence and innovation in teaching and research. Our staff members have substantial teaching experience and are committed to continuing professional development; some are members (Fellows/Senior Fellows) of the Higher Education Academy. All of our lecturers have PhDs or equivalent, and hold professional qualifications.
The programme team maintains a strong commitment to excellence, innovation and multi-culture in teaching and research. Teaching is informed by research with all teaching staff presenting and publishing academic papers at national and international conferences, in books and in internationally ranked accounting, economics, finance and management journals.
Teaching team:
Next steps
Facilities
The course is run from Keele Business School’s new home – the Denise Coates Foundation Building – a state-of-the-art facility complete with 220-seat lecture theatre, a ‘think lab’ study space, data laboratory, cafe and business lounge.
Home to our accounting, business management, economics, finance, HRM, international business, management and marketing programmes, our Business School is the first to be located on a Science Park. As well as new teaching spaces, our building is unique in that it is also home to the Smart Innovation Hub, a project part-funded by the European Regional Development Fund (ERDF), which includes space and support programmes for innovation-led businesses, providing opportunities for students and staff to work collaboratively with entrepreneurs and business owners, gaining invaluable networks and experience.
You’ll have access to the Bloomberg Suite with all its economic, financial and business real-time data, world news, analyses and reports from the world’s biggest financial organisations. You can choose to complete the Bloomberg Market Concepts (BMC) certificate free of charge, an eight-hour e-learning, self-paced course which covers economic Indicators, currencies, fixed income and equities.
Based in the heart of England, Keele University is easily accessible by motorway and public transport. You’ll find everything’s on your doorstep, with the most important facilities gathered together at the centre of campus, which, at 600 acres, is one of the biggest in the UK.
80% of our research is deemed world-leading or internationally excellent (REF, 2021). In the global top 20 for campus sustainability, environmental and corporate responsibility underpin the running of our own business and these themes are embedded into our teaching of future professionals and leaders.
Next steps