Jointly offered by WMI and the Singapore Management University (SMU), the Master of Science in Wealth Management (MWM) imparts more than theoretical knowledge. It equips you with the skills and expertise required for a successful career as an asset manager or private banker.
Developed in close collaboration with the Swiss Finance Institute and Yale School of Management (SOM), this prestigious programme brings together renowned industry practitioners and eminent academics to create a holistic, industry-driven learning experience for both seasoned and aspiring wealth management professionals.
Key features
- Specialised curriculum in global wealth management with an Asian focus.
- Master’s degree awarded by SMU, with certificates awarded by Swiss Finance Institute and Yale SOM.
- Modular structure allows participants to meet professional obligations while pursuing the degree.
- Pedagogy includes case studies, team activities, pre-course assignments, computer-aided learning, industry talks and field trips.
- Recognised as a graduate programme associated with the CFA Institute.
- Internship opportunities with leading fund management companies and private banks.
- Scholarships and student loans available to qualified participants.
*Note: March 8 will be the final info session for the 2012/13 programme.
Internships
WMI believes in the importance of on-the-ground learning to complement education in the classroom. WMI facilitates the process of placing students new to the industry in internship positions with prominent financial institutions, providing opportunities for a more holistic learning experience.
Students without wealth management experience are strongly encouraged to take part in the internship programme to gain relevant experience and enhance employability.
Lester Gray, CEO, Asia Pacific, Schroder Investment Management
Programme structure
- Programme comprises five intensive two-week study blocks.
- Study Block IV is conducted overseas at the Swiss Finance Institute (Switzerland) and Yale School of Management (USA).
- Internships are conducted between study blocks.
Curriculum
Study Block I – July 2012: Building Blocks to Managing Wealth
| Financial Statement Analysis This course examines key financial accounting and reporting issues relating to corporations as well as the analysis and interpretation of financial statements prepared under international accounting standards. The objective is to attain technical and analytical proficiency in using financial reports to evaluate the operating performance and financial health of companies. Topics include financial ratios, profitability analysis, cash flow analysis, credit risk analysis, business combinations, leases, off-balance sheet transactions, intangible assets, impairment of assets, revenue recognition and foreign exchange accounting. |
| Macroeconomics for Financial Markets This course provides participants with a foundation in the economic concepts and theories necessary to understand and analyse the state and outlook of the global economy and their impact on financial markets. Basic concepts in macro-economics will be introduced. The role of monetary policy and exchange rate policy in managing interest rates, inflation and trade competitiveness will be discussed and the linkages to strategies for investment management will be highlighted. |
| Quantitative Methods for Investment Analysis This course covers basic techniques in data analysis with special reference to investment. A practical orientation will be adopted focusing on identification of appropriate techniques, execution of analysis and sound interpretation of results. Topics include probability distributions, confidence interval estimation, hypothesis testing, correlation and regression analysis, and time series analysis. |
| Global Financial Markets This course equips participants with the ability to decipher market dynamics. Participants will be able to determine what moves the market and why; how to stay close to the market and feel its pulse; how to make informed decisions about market movements, and how to make an educated conjecture about evolving trends. |
Dewin Lee, Head, Citigold Private Client
Graduate, Master of Science in Wealth Management (2010)
Study Block II – October 2012: Deepening Wealth Knowledge
| Corporate Finance This course focuses on decisions affecting corporations in the area of investment, financing/dividend payments and operational decisions. It equips participants with conceptual and analytical skills necessary to make both routine and non-routine financial decisions. It covers financial analysis and planning, capital budgeting, cost of capital, capital structure and dividend policy. It will include topics such as IPOs, Mergers & Acquisitions and Corporate Restructuring. Cases are used to illustrate the concepts and tools introduced in the course. |
| Analysis of Equities This course provides a blend of theory and practice to analyse equities as an asset class. It covers the process of fundamental analysis as a tool for security selection. It discusses a number of equity valuation techniques for specific industries and/or companies. These include both absolute and relative valuation approaches using asset values, earnings, dividends, cash flows and technical analysis. |
| Analysis of Fixed Income The course focuses on fixed income markets, products and basic analytical tools used in analysing fixed income securities. Topics include term structure of interest rates, yield curve dynamics, duration and convexity, bond portfolio management strategies and credit rating. The coverage includes more advanced array of fixed income instruments including high yield bonds, asset-backed securities, swaps and credit derivatives. |
Li Chao, Caliburn Capital Partners
Graduate, Master of Science in Wealth Management (2010)
Study Block III – January 2013: Specialisation of Wealth Needs
| Analysis and Applications of Derivatives This course covers concepts of derivative pricing for instruments such as forwards, futures, options, and swaps. Participants will develop an understanding of how these instruments work, how they are used, and how they are priced including basic valuation models such as the Black-Scholes model. |
| Private Equity and Venture Capital This course provides an introduction into the workings of the private equity and venture capital markets. It will discuss the principles of entrepreneurial financing from the perspective of an entrepreneur, and how venture capitalist looking to invest in promising startups. Investment principles and valuation models such as discounted cash flow models, P/E multiples, and alternative-pricing models will be covered. |
| Hedge Fund Investment This course provides participants with an understanding of theoretical and practical aspects of hedge fund investments, strategies, products and the risk/return of hedge fund investments. |
| Portfolio Management This course focuses on the process of fund management. It covers the basic concepts of investments, including risk and return, portfolio diversification and performance evaluation. |
| Trusts and Inter-Generation Wealth Planning The course provides participants an overview of wealth planning including an understanding of multi-jurisdiction legislation for international wealth transfers. Participants will learn to appreciate the use of trusts in inter-generation wealth planning. |
Ker Jyn, Investment Analyst
Graduate, Master of Science in Wealth Management (2008)
Study Block IV – March 2013: Global Wealth Outlook
| Client Relationship Management The course discusses the building blocks of great client experience, how to go about building a great client book and the investment advisory process. |
| Special Topics in Wealth Management The course covers topics relevant to wealth management such as Family Business and the Family Office. |
| Alternative Investing The course covers alternative investments including private equity, real estate and commodities. Other topics including behavioral finance will also be discussed. |
Elaine Bun, Graduate, Master of Science in Wealth Management (2008)
Study Block V – May to June 2013: Wealth Expansion and Development
| Structured Products This course covers the foundations and use of structured products by banks, financial institutions and investment managers. It covers equity structures, fixed income structures, currency structures, commodity structures and hedge fund wrappers. Some of these structures range from simple derivatives like warrants, option-embedded bonds, equity-linked notes, dual currency options, reverse floaters and similar forms of innovative financial instruments. Participants will develop an understanding of the risk, return and structuring of some of these products, and their use in investment management. |
| Ethics Participants will develop an appreciation and understanding of business, financial and personal ethics. It explores business responsibility from rival theoretical and management perspectives. Topics include Financial Management, Product Safety, Ethics and Corporate Responsibility, and creating an Ethical environment within the organisation. |
| Financial Advisers Law This course covers the essential aspects of the law as it affects financial advisers. The topics include the regulation of financial advisers, negligence liability, contractual liability and international legal issues in financial advice contracts. |
Advanced Study Project
| All participants are required to complete a project which allows them to apply the concepts and principles of wealth management in a commercial setting. Participants may focus their final projects on one of the following areas: 1. Private banking 2. Asset management 3. Innovative products, processes or services in wealth management |
Please visit SMU for the latest curriculum information.
Related Information
Conducted in an interactive and practical setting by lecturers who are currently renowned experts in their respective fields of financial specialty, I have benefited tremendously from this programme and it has definitely given my product specialist career a very strong boost.
Heng Koon How
Director, Commodities Product Specialist, Credit Suisse Private Bank