Students learn to design and analyze fixed income securities and alternative investments. The
importance of interest rates, credit risk, and product features in the valuation of these assets
is emphasized. Topics include an introduction to fixed income investments, fixed income markets,
yield curves, bond pricing, valuation and volatility, credit analysis for firms and individuals,
asset backed securities, real estate, hedge funds and private equity.
- Examine and describe various types and structures of debt instruments.
- Differentiate between different types of bond issuers.
- Interpret quantitative measures including price, yield to maturity, and duration for various
fixed income securities.
- Examine the risk-return characteristics of fixed income securities.
- Apply the 4 Cs (capacity, collateral, covenants and character) of credit analysis.
- Explain how asset-backed securities are created.
- Contrast alternative investment asset classes versus traditional stock and bond investments
and their roles in a portfolio.
- Estimate the value of a real estate investment using various methods.
- Contrast different private equity and hedge fund strategies, fees, structures and benchmarks.
- Module 1: Defining Features of Fixed Income Securities
- Module 2: Fixed Income Markets
- Module 3: Fixed Income Valuation
- Module 4: Risk and Return
- Module 5: Fundamentals of Credit Analysis
- Module 6: Asset Backed Securities
- Module 7: Alternative Asset Classes
- Module 8: Real Estate
- Module 9: Hedge Funds
- Module 10: Private Equity
Required text and materials
Students will need to source the following e-textbook on their own:
Petitt, B., Pinto, J. E., Pirie, W. L., CAIA Association, Chambers, D. R., Kazemi, H., … Anson,
M. J. (2018). Fixed Income and Alternative Investments. Hoboken (NJ): John Wiley &
Type: e-textbook: ISBN: 9781119545255
The required e-textbook is available for purchase directly from the TRU Bookstore and search for the course
under “Digital Access Codes and Online Components Search Engine”
Please be aware that due to COVID-19 safety guidelines all in-person exams have been suspended. As such, all final exams are currently being delivered through ProctorU, which has an approximate fee of $35 involved. There will be more information in your course shell, on how to apply, if your course has a final exam.
To successfully complete this course, students must achieve a passing grade of 50% or higher on
the overall course and 50% or higher on the mandatory final exam.
|Assignment 1: Fixed-Income Securities, Markets and Valuation
|Assignment 2: Fixed-Income Risk and Return, Credit Analysis and Asset-Backed
|Assignment 3: Proposal and Research Paper
|Final Exam (mandatory)
Open Learning Faculty Member
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of your course.