SECURITY ANALYSES AND PORTFOLIO MANAGEMENT

FULLY SOLVED BOOK LASY 5 YEARS PAPERS SOLVED PLUS GUESS

SECURITY ANALYSES AND PORTFOLIO MANAGEMENT 

UNIT I
Introduction to Investment theory; Investment objectives, constraints and policies, Investment initiatives, Attributes of an Investible instrument, Investment, VS. Speculation Markets for various Investment alternatives and recent developments.

UNIT II
Approaches to investment valuations; Stock Market Analysis-Fundamental Approach, Technical Approach, Efficient Market Theory and Behavioural Theory- Valuation of Equity - shares: capitalisation of Dividends, growth conditions, P/E approach. Valuation of Preference Shares.

UNIT III
Valuation of Fixed Income Securities-Features and Types of Debt Instruments- Measuring Bond Yield -current Yield- Holding Period Yield- Yield To Maturity- Yield To Call- Bond Valuation-Capitalization of income method- Bond Price Theorems- Bond Duration- Macaulay’s Duration- Modified Macaulay’s Duration- Bond Convexity- Managing Bond Portfolio- Considerations in managing bond portfolio- Bond Immunization- Active and Passive Bond Portfolio management Strategies.

UNIT IV
Introduction to Portfolio theory; Investor’s objectives, constraints and policies; Return-Risk analysis; Markowitzian Portfolio Theory; Leveraged and Unleveraged Portfolios; Multiple security portfolios; Capital Asset Pricing Model; Arbitrage Pricing Theory and Multifactor models; Optimum risky portfolio using Single Index Model.

UNIT V
Portfolio Evaluation- Need for Performance Evaluation- Sharpe’s reward to Variability Index- Treynor’s Reward to Volatility Index- Jensen’s Differential Index- Fama’s Decomposition of Returns. Managed Portfolios in India;