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<svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" aria-hidden="true" focusable="false" width="1em" height="1em" preserveAspectRatio="xMidYMid meet" viewBox="0 0 24 24" class="iconify mr-1" data-icon="mdi:arrow-left" style="vertical-align: -0.125em; transform: rotate(360deg);"><path d="M20 11v2H8l5.5 5.5l-1.42 1.42L4.16 12l7.92-7.92L13.5 5.5L8 11h12z" fill="currentColor"></path></svg>=====Course unit: Finance ===== ** <color red> Beware! Under construction. </color> ** ==== Course metadata ==== * Title in French: Finance * Course code: tba * ECTS credits: 4 * Type: advanced course * Semester 9 (Fall-Winter) * Teaching period: Mid-November to Mid-February * Teaching hours: 100h * Language of instruction: English * Coordinator: tba * Instructor(s): Grégoire Hug (WeeFin), Réda Rahal (BNP Paribas), Julien Belon (Arx Corporate Finance), Vincent Bonnamy (La Banque Postal Asset Management) * //Last update 24/07/2025 by C. Pouet// ==== Brief description ==== This course is taught by highly skilled professionals in finance. Some of them are Centrale Méditerranée alumni. This course unit is divided into four parts: * ** Portfolio management ** (24 hours) taught by Grégoire Hug. * ** Financial risk modelling ** (24 hours) taught by Réda Rahal: this part is dedicated to credit risk and its role in banking regulation. * **Applied finance ** (24 hours) taught by Julien Belon and Vincent Bonnamy: this part is about the theoretical aspects of corporate and market finance applied in real life. * **Data Project: data sources and preprocessing** (20 hours) taught by tba. ==== Learning outcomes ==== * Learn what is the asset management industry and what are each player’s target * Understand the portfolio management theory basics – how to build a portfolio * Cover all major asset classes to have a deep financial culture * Understand how the supervision financial risks organized * Know how to model and compute the associated capital charges are computed * Understand the similarities in the concepts of market and corporate finance * Understand how finance products can be used to manage risk * Know how to evaluate and to value a company ==== Course content ==== === Portfolio management === - Introduction to portfolio management - The asset management industry - The investment theory basics - Main asset classes - Fixed income asset class - basics - Sources of risk and return - Main strategies - Application on a fixed bond - Fixed income asset class - advanced - Fixed Income products and associated strategies - Calculation example - fixed bond - Rate curves bootstrapping - Application on a callable bond - Back to Equity - Equity Market history and overview - Classic steps in an investment process - Active vs Passive Investment management - Application on an equity European portfolio - Alternative asset classes - Currency - Private Equity - Real Estate - Private Debt - Infrastructure - Risk and Performance Measurement - Performance Measurement - Risk and Performance Metrics - Risk Measurement - Asset allocation - Asset allocation based on investment profile - Capital Protection - Innovation in Asset Management - Smart Beta portfolios & passive indexing - Alternative data sources - ESG (intro) - Crypto funds === Financial risk modelling ==== - Introduction: bonds and OTC transactions - Modeling defaults: structural models and ratings - Banking regulation on credit risk; market and counterparty credit risk - Overview of the VaR methodologies and pros/cons for each - Monte-Carlo techniques applied in Finance === Applied finance === - Applied corporate finance – From startup to IPO… and LBO * Introduction / Presentation * Application areas of * Accounting Basic Methods * Valuation methods * We know how to value a company. Now what? Different types of operation * Introduction to Fintech and start-up ecosystem - Applied market finance – Options: Pricing, Hedging & Risk Management * Market finance: players and products * Future and forward: pricing & hedging * Options: replication and pricing * Sensitivity of options: the greeks * Volatility and stress tests === Data Project: data sources and preprocessing === Tba ==== Bibliography ==== You can check the availability of the books below at [[https://www.centrale-mediterranee.fr/fr/centredoc|Centrale Méditerranée library]]. - Portfolio management * Portait, R. and Poncet, P. (2014). Market Finance. * Fabozzi, F. J. (2012). The Handbook of Fixed Income Securities. * Hull, J. (2021). Options, Futures & Other Derivatives. 11th Edition. Pearson. - Financial risk management * Jorion, P. (2006). Value at Risk: The New Benchmark for Managing Financial Risk, 3rd Edition. McGraw Hill * Gregory, J. (2015). The xVA Challenge: Counterparty Credit Risk, Funding, Collateral, and Capital. ‎ Wiley. * Roncalli T. (2016). Risk Management & Financial Regulation ([[http://thierry-roncalli.com|website]]) - Applied finance * Vernimmen, P. (2021). Finance d’entreprise. Dalloz. * Hull, J. (2018). Options, Futures, and Other Derivatives, 10th Edition. Pearson