MSc Investment Management
The course
- Delivery
- Full-time, Part-time, Per course
- Course type
- Taught
- Location
- Edinburgh
- Entry date
- September
One of the UK's most established Investment Management MSc programmes, this CFA Accredited degree provides access to the expertise of leading finance academics and senior investment professionals, and hands on experience of Bloomberg Trading Terminals.
Chat with an academic online
We are running a series of 'Chat with an academic' sessions. Each session is subject specific and runs between 11 January and 5 May 2023. Find the session of interest to you and book your place.
Contact
Got questions about this programme?
Contact our enquiries team.
Overview
Edinburgh is a major centre for investment management with a long and proud history. The MSc in Investment Management provides key investment knowledge with a specific industry focus. A unique feature of the programme is the Current Topics in Investment Management course, where senior investment practitioners give weekly guest lectures, providing insight into the investment industry and allowing students to gain a real-life perspective on the knowledge and theories they are studying.
Discussion of academic theories and their limitations is combined with an emphasis on practical application. Staff teaching on the programme are at the forefront of research and practice in finance and investment management and most are also members of the Centre for Finance & Investment (CFI) which brings Heriot-Watt academics with an interest in finance and investment together with senior practitioners from the local financial community.
Bloomberg Trading Room
Heriot-Watt University opened its very own Bloomberg Trading Room in September 2018. Equipped with 12 state-of-the-art Bloomberg Terminals, this world-class facility provides opportunity to learn real-world financial skills. You will be able to gain a Bloomberg Certificate to show that you can use the industry-standard software which provides live financial data and trading tools to the world's leading banks and organisations.
September 2023 entry
The deadline for applications from Scottish and RUK students is 31st August 2023. For EU and overseas applicants, we guarantee to consider applications submitted by 1st August 2023.
Accreditation
We have links with several professional bodies, in particular the Chartered Financial Analyst Society of the UK, the Actuarial Profession and the Chartered Institute for Securities and Investment.
Chartered Financial Analyst Institute® University Affiliation Program
Our MSc Investment Management programme is recognised as an affiliated degree by the Chartered Financial Analyst Institute (CFA®) through their University Affiliation Program.
This means that MSc Investment Management has been acknowledged as incorporating at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK) and placing emphasis on the CFA Institute Code of Ethics and Standards of Professional Conduct within the program. This MSc will position you well to obtain the Chartered Financial Analyst® designation, which has become the most respected and recognized investment credential in the world.
Entry into the CFA Institute University Affiliation Program signals to potential students, employers, and the marketplace that our curriculum is closely tied to professional practice and is well-suited to preparing students to sit for the CFA examinations. Through this partnership Heriot-Watt University has the ability to offer up to 3 scholarships each year for students going on to the CFA Program.
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and administers the industry gold standard CFA charter. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has more than 148,000 members in 163 countries and territories, including 142,000 CFA charterholders.
About the CFA Program
The CFA Program sets a standard for developing the skills, standards, competence, and integrity of financial analysts, portfolio managers, investment advisers, and other investment professionals worldwide. It is widely considered the investment profession's most rigorous credentialing program. Administered in English, the CFA curriculum and examinations are identical worldwide.
Bloomberg Experiential Learning Partner
Heriot-Watt University is accredited as a Bloomberg Experiential Learning Partner, recognising us as a leader in experiential learning in the area of finance.
Go Global
Some of our Postgraduate Taught Masters Programmes are eligible for Inter-Campus Transfer. Please contact goglobal@hw.ac.uk for further information.
Course content
| Semester 1 (Sept - Dec) | Semester 2 (Jan - April) |
|---|---|
|
Capital Markets |
Current Topics in Investment Management |
|
Portfolio Management |
Research Methods |
|
One from:
|
Two from:
|
|
One from:
|
Over the summer months students undertake a dissertation.
* Students who intend to sit the CFA examinations are advised to study Corporate Finance, International Accounting Standards, Comparative Financial Reporting, and Derivatives as their optional courses.
Captial Markets
Semester 1 (mandatory)
Examines the way capital markets and institutions function in practice, with particular emphasis on equities and bonds.
Portfolio Management
Semester 1 (mandatory)
Introduces portfolio management as a logical process, providing organisation and structure to what is a complex set of procedures.
Corporate Finance
Semester 1 (optional)
The aim of this course is to introduce you to contemporary topics in corporate finance and look at the major decisions facing a firm in this area.
Corporate Governance
Semester 1 (optional)
Develops understanding of issues relating to corporate governance and the financial research methods used to approach them including principal-agent theory, ownership structure and control, board of directors, CEO turnover, mergers and acquisitions and state versus private ownership.
Financial Analysis
Semester 1 (optional)
Looks at how to analyse the financial performance of an organisation through the use of published financial information.
International Accounting Standards
Semester 1 (optional)
Evaluate theories and empirical studies in the areas covered by international standards of accounting, analyse the outcome of the standard setting process from different theoretical perspectives, and assess observed practices in terms of regulatory and cultural frameworks.
Current Topics in Investment Management
Semester 2 (mandatory)
This is specialised course that sees senior investment practitioners come in each week to give guest lectures, which not only provide insights into the investment industry but also allow you to gain a real world understanding of the knowledge and theories you are studying.
Research Methods
Semester 2 (mandatory)
Looking at both qualitative and quantitative techniques this course will equip students with the means to develop and carry out their own research projects and to evaluate the contributions of others.
Comparative Financial Reporting
Semester 2 (optional)
Provides an international perspective to the study of accounting by looking at the reasons for national differences, the tendencies towards harmonisation, the problems of multinational companies, as well as analysis and evaluation of financial reports prepared in other countries.
Derivatives
Semester 2 (optional)
Develops a thorough understanding of financial derivative instruments, and be able to appraise their application in risk management.
Emerging Financial Markets
Semester 2 (optional)
Supplements understanding of mainstream finance during the year, and applies it to the specific circumstances of emerging financial markets. This exposure is also designed to assist you with identifying possible dissertation topics and data sources.
Research in Finance
Semester 2 (optional)
Covers quantitative methods used in research in the area of finance and financial markets. It will extend knowledge from the main Research Methods course by equipping students with modern methodology applied for the time series analysis. The first part of the course is focused on the theory and the second one on practical applications in the computer lab.
Students will build models of stock and currency prices, evaluate them using different criteria and use them for the forecasts and formulation of trading strategies. They should perform their own work using real data from financial markets. By applying modern econometric methods, students will prepare themselves for their dissertation as well as for further research, either in academia or in the non-academic world.
Programme leader
The MSc Investment Management is delivered by a dedicated team of lecturers from the Accountancy, Economics and Finance subject disciplines within the School of Social Sciences who all have specialist knowledge in their respective subject areas.
Staff teaching on the programme are at the forefront of research and practice in finance and investment management and most are also members of the School's Centre for Finance & Investment (CFI) which brings Heriot-Watt academics with an interest in finance and investment together with senior practitioners from the local financial community, to explore areas of mutual interest and thereby increase the practical relevance of our teaching and research. The results of this feed directly into the teaching on MSc Investment Management, allowing you to benefit from the latest thinking and developments within the field.
Additional information
Guest lectures, given by investment practitioners, are an integral part of the programme and provide insights into some of the key issues facing the investment management industry today.
The MSc Investment Management programme includes the course Current Topics in Investment Management for which senior investment practitioners give guest lectures each week. This will allow you to gain a real world understanding of the material you are studying.
MSc Investment Management students and alumni are also invited to attend the Centre for Finance & Investment Annual Debate each October.
Entry requirements
A good Honours degree (first or second class), or its non-UK equivalent, in a relevant subject from a recognised British or overseas university.
No investment management experience is required but some prior knowledge of finance and/or accounting would be an advantage.
English language requirements
If your first language is not English, or your first degree was not taught in English, we'll need to see evidence of your English language ability.
The minimum English language requirement for entry to this programme is IELTS 6.5 (or equivalent) with no component lower than 6.0.
If you do not have IELTS 6.5, we offer a range of English language courses to help you meet the English language requirement for this programme prior to commencing your studies:
- 20 weeks English (for IELTS of 5.0 with no skill lower than 4.5)
- 14 weeks English (for IELTS of 5.0 with minimum of 5.0 in writing and no skill lower than 4.5)
- 10 weeks English (for IELTS of 5.5 with no skill lower than 5.0)
- 6 weeks English (for IELTS 5.5 with no skill lower than 5.5)
Fees
| Status | Full-time | Part-time | Per course |
|---|---|---|---|
| UK | £8320 | £4160 | £1040 |
| Overseas | £18520 | £9260 | £2315 |
Footnotes
- Your residency 'status' is usually defined as the country where you have been ordinarily resident for the three years before the start of your course. Find out more about tuition fees.
- Fee per course (module). Refer to the Course Content to see how many courses comprise the full programme.
- Overseas includes applications from European Union countries who do not hold Pre-Settled or Settled status in the UK. Read more about the application process for EU nationals.
Scholarships and bursaries
We aim to encourage well-qualified, ambitious students to study with us and we offer a wide variety of scholarships and bursaries to achieve this. Over £6 million worth of opportunities are available in fee and stipend scholarships, and more than 400 students benefit from this support.
View our full range of postgraduate scholarships.