SVKM’s NMIMS Anil Surendra Modi School of Commerce (ASM SOC)

Course Outline

Academic Year: 2024 – 25

Course Code 742FI0C027

Course Title Alternate Investment Markets

Prof Jagabandhu Padhy
Course Instructor/s Prof. Prashant Mushtagi
Prof. Mangesh Jadhav
Course Credit 4
Program and
SY B.Sc. Finance Semester - IV
Semester
i) Intermediate knowledge about the Time Value of
Money
ii) Intermediate knowledge about calculating PV
Pre-Requisite and FV for Single Cashflows, Multiple Uneven
Cash flows and Annuity Cash flows.
iii) Basic knowledge about the cost of capital and
valuation of equity and debt instruments

PLO 2a –Analysis and interpretation of the data

which is used in Decision Making
PLO 2b- Demonstrate the ability to develop
models/frameworks to reflect critically on specific
Learning
business contexts
Objectives*
PLO5a - Giving an Insight into Global Environment
and its Impact on business
PLO5b– In-depth Knowledge of the Finance
Domain and Various Financial products

i) Explain the various avenues of

alternative investments, their risks, and
rewards associated with it globally as well
as in the Indian context
Learning
ii) Appraise the value of various alternative
Outcomes**
instruments, such as Real estate, Hedge
Funds, Private Equity, and Commodities etc.,
by using various tools &techniques
iii) Analyze the various trading strategies and
 regulatory framework of Alternative
Investments

This course is designed to acquaint students

with the various concepts and to give them
an overview of Alternative Investments.
Students will understand various asset classes,
Course Description
markets, and participants and demonstrate
trading strategies This course will facilitate
calculation of fair values of alternative
investment instruments

Evaluation Pattern

Specific
% Intended CLOs to be
Assessment AOL Instruments
Weightage Assessed
Methods / Task
CLO 1 CLO 2 CLO 3
Mid Term 20 Written Exam Yes Yes No
Research Paper 15 Group Project Yes Yes Yes
Presentation 15 Group Presentation Yes Yes Yes
Term End Exam 50 Written Exam Yes Yes Yes
Total 100

Course Session Plan for 4 Credit Courses (60 hours):

Classroom
Sessions Modules Pre-Read Study Material
Discussion
Introduction to
Alternative
Alternative
Investments: A
Investments
Primer for
Learning
Investment
Outcome: Students
Professionals PPTs, PPTs, Problem
will learn the
by CFA Practical Sheets, Handouts
1 and 2 basics of
Institute Problems with notes and
alternative
Research practical problems
investments and
Foundation
dynamics of risk
and CAIA
reduction
Association,
through
2019
diversification
Alternative PPTs, PPTs, Problem
Types of
Investments: A Practical Sheets, Handouts
3 and 4 Alternative
Primer for Problems with notes and
Investments
Investment practical problems
 Learning Professionals
Outcome: Students by CFA
will learn the Institute
basics of Research
alternative Foundation
investments and and CAIA
dynamics of risk Association,
reduction 2019
through
diversification
Risks and
Diversification in Alternative
Alternative Investments: A
Investments Primer for
Learning Investment
Outcome: Students Professionals PPTs, PPTs, Problem
will learn the by CFA Practical Sheets, Handouts
5 and 6
basics of Institute Problems with notes and
alternative Research practical problems
investments and Foundation
dynamics of risk and CAIA
reduction Association,
through 2019
diversification
Introduction to
Hedge Funds,
History of the
industry Alternative
Investments: A
Learning Primer for
Outcome: Investment
Students will Professionals PPTs, PPTs, Problem
learn the by CFA Practical Sheets, Handouts
7 and 8 concepts of Institute Problems with notes and
hedge funds Research practical problems
and private Foundation
equity and and CAIA
practically Association,
apply the 2019
valuation
methodologies to
start-ups
Alternative
Size and growth PPTs, PPTs, Problem
Investments: A
of the industry, Practical Sheets, Handouts
9 and 10 Primer for
Hedge Fund Problems with notes and
Investment
Strategies practical problems
Professionals
 by CFA
Learning Institute
Outcome: Research
Students will Foundation
learn the and CAIA
concepts of Association,
hedge funds 2019
and private
equity and
practically
apply the
valuation
methodologies to
start-ups
Introduction to
Private Equity,
Private Equity
investment
process Alternative
Investments: A
Learning Primer for
Outcome: Investment
Students will Professionals PPTs, PPTs, Problem
by CFA Practical Sheets, Handouts
11 and 12 learn the
concepts of Institute Problems with notes and
Research practical problems
hedge funds
Foundation
and private
and CAIA
equity and
Association,
practically
2019
apply the
valuation
methodologies to
start-ups
Valuation for
Private Equity, Alternative
Private Equity Investments: A
financing Primer for
Investment
Learning Professionals PPTs, PPTs, Problem
Outcome: by CFA Practical Sheets, Handouts
13 and 14
Students will Institute Problems with notes and
learn the Research practical problems
Foundation
concepts of
and CAIA
hedge funds
Association,
and private
2019
equity and
 practically
apply the
valuation
methodologies to
start-ups
Due Diligence by
potential
Investors in
Hedge Fund and
Private Equity Alternative
Investments: A
Learning Primer for
Outcome: Investment
Students will Professionals PPTs, PPTs, Problem
by CFA Practical Sheets, Handouts
15 and 16 learn the
concepts of Institute Problems with notes and
Research practical problems
hedge funds
Foundation
and private
and CAIA
equity and
Association,
practically
2019
apply the
valuation
methodologies to
start-ups
Factor Models
for hedge funds
Alternative
Learning Investments: A
Outcome: Primer for
Students will Investment
learn the Professionals PPTs, PPTs, Problem
concepts of by CFA Practical Sheets, Handouts
17 and 18 hedge funds
Institute Problems with notes and
and private Research practical problems
equity and Foundation
practically and CAIA
apply the Association,
valuation 2019
methodologies to
start-ups
non-normality of Alternative
hedge fund Investments: A PPTs, PPTs, Problem
returns Primer for Practical Sheets, Handouts
19 and 20
Investment Problems with notes and
Learning Professionals practical problems
Outcome: by CFA
 Students will Institute
learn the Research
concepts of Foundation
hedge funds and CAIA
and private Association,
equity and 2019
practically
apply the
valuation
methodologies to
start-ups
Alpha
calculation and
Funds of Funds
in Hedge Funds
and Private Alternative
Equity Investments: A
Primer for
Learning Investment
Outcome: Professionals PPTs, PPTs, Problem
Students will by CFA Practical Sheets, Handouts
21 and 22 learn the Institute Problems with notes and
concepts of Research practical problems
hedge funds Foundation
and private and CAIA
equity and Association,
practically 2019
apply the
valuation
methodologies to
start-ups
A synopsis of the
market,
Commercial versus Alternative
residential Investments: A
Primer for
Learning Investment
Outcome: Professionals PPTs, PPTs, Problem
by CFA Practical Sheets, Handouts
23 and 24 Students will
learn the Institute Problems with notes and
dynamics of real Research practical problems
Foundation
estate investment
and CAIA
through various
Association,
contemporary
2019
concepts of REIT
and
 Real Estate
Securities
Characteristics,
forecasting cash
flows, REITS, LTV Alternative
Investments: A
Learning Primer for
Outcome: Investment
Students will Professionals PPTs, PPTs, Problem
learn the by CFA Practical Sheets, Handouts
25 and 26 dynamics of real
Institute Problems with notes and
estate investment Research practical problems
through various Foundation
contemporary and CAIA
concepts of REIT Association,
and 2019
Real Estate
Securities
Characteristics,
forecasting cash
flows, REITS, LTV Alternative
Investments: A
Learning Primer for
Outcome: Investment
Students will Professionals PPTs, PPTs, Problem
learn the by CFA Practical Sheets, Handouts
27 and 28 dynamics of real
Institute Problems with notes and
estate investment Research practical problems
through various Foundation
contemporary and CAIA
concepts of REIT Association,
and 2019
Real Estate
Securities
Valuing real estate Alternative
properties Investments: A
Primer for
Learning Investment
Outcome: Professionals PPTs, PPTs, Problem
Students will by CFA Practical Sheets, Handouts
29 and 30 learn the Institute Problems with notes and
dynamics of real Research practical problems
estate investment Foundation
through various and CAIA
contemporary Association,
concepts of REIT 2019
 and
Real Estate
Securities
Valuing real estate
properties
Alternative
Learning Investments: A
Outcome: Primer for
Students will Investment
learn the Professionals PPTs, PPTs, Problem
dynamics of real by CFA Practical Sheets, Handouts
31 and 32
Institute Problems with notes and
estate investment
Research practical problems
through various
Foundation
contemporary
and CAIA
concepts of REIT Association,
and 2019
Real Estate
Securities
Decisions such as
buying or
renting/using own
funds or taking a
loan/buying a new Alternative
or used property Investments: A
Primer for
Learning Investment
Outcome: Professionals PPTs, PPTs, Problem
by CFA Practical Sheets, Handouts
33 and 34 Students will
learn the Institute Problems with notes and
dynamics of real Research practical problems
Foundation
estate investment
and CAIA
through various
Association,
contemporary
2019
concepts of REIT
and
Real Estate
Securities
Decisions such as Alternative
buying or Investments: A
renting/using own Primer for
funds or taking a Investment PPTs, PPTs, Problem
loan/buying a new Professionals Practical Sheets, Handouts
35 and 36
or used property by CFA Problems with notes and
Institute practical problems
Learning Research
Outcome: Foundation
Students will and CAIA
 learn the Association,
dynamics of real 2019
estate investment
through various
contemporary
concepts of REIT
and
Real Estate
Securities
Publicly traded
Real Estate
Securities Alternative
Investments: A
Learning Primer for
Outcome: Investment
Students will Professionals PPTs, PPTs, Problem
learn the by CFA Practical Sheets, Handouts
37 and 38 dynamics of real
Institute Problems with notes and
estate investment Research practical problems
through various Foundation
contemporary and CAIA
concepts of REIT Association,
and 2019
Real Estate
Securities
REITs in Indian
context
Alternative
Learning Investments: A
Outcome: Primer for
Students will Investment
learn the Professionals PPTs, PPTs, Problem
by CFA Practical Sheets, Handouts
39 and 40 dynamics of real
Institute Problems with notes and
estate investment
Research practical problems
through various
Foundation
contemporary
and CAIA
concepts of REIT Association,
and 2019
Real Estate
Securities
Structured Alternative
products, Investments: A PPTs, PPTs, Problem
Protection for Primer for Practical Sheets, Handouts
41 and 42
risk aversion, Investment Problems with notes and
leveraging for Professionals practical problems
confidence by CFA
 Learning Institute
Outcome: Research
Students will Foundation
learn the and CAIA
dynamics of non- Association,
conventional 2019
investments in
commodities, art,
etc
Convertible
securities, Art
and wine,
Advantages and
disadvantages of
Alternative
commodity
Investments: A
investing, Oil
Primer for
and Crude,
Investment
Precious metals
Professionals PPTs, PPTs, Problem
and base metals,
by CFA Practical Sheets, Handouts
43 and 44 agricultural
Institute Problems with notes and
products
Research practical problems
Learning
Foundation
Outcome:
and CAIA
Students will
Association,
learn the
2019
dynamics of non-
conventional
investments in
commodities, art,
etc
Global Alternative
Commodity Investments: A
Markets, Primer for
Regulators Investment
Learning Professionals PPTs, PPTs, Problem
Outcome: by CFA Practical Sheets, Handouts
45 and 46
Students will learn Institute Problems with notes and
the dynamics of Research practical problems
alternative Foundation
investments in and CAIA
Indian and Global Association,
concept 2019
Indian Alternative
Commodity Investments: A PPTs, PPTs, Problem
Primer for Practical Sheets, Handouts
47 and 48 Markets, Trading
Investment Problems with notes and
Strategies Professionals practical problems
Learning by CFA
 Outcome: Institute
Students will learn Research
the dynamics of Foundation
and CAIA
alternative
Association,
investments in 2019
Indian and Global
concept
Factors affecting
Global Alternative
Commodities Investments: A
Markets. Primer for
Learning Investment
Outcome: Professionals PPTs, PPTs, Problem
by CFA Practical Sheets, Handouts
49 and 50 Students will learn
Institute Problems with notes and
the dynamics of Research practical problems
alternative Foundation
investments in and CAIA
Indian and Global Association,
concept 2019

Introduction to
Alternative
Block Chain
Investments: A
Technologies
Primer for
Learning
Investment
Outcome:
Professionals PPTs, PPTs, Problem
Students should
by CFA Practical Sheets, Handouts
51 and 52 stay updated
Institute Problems with notes and
with emerging
Research practical problems
Alternate
Foundation
Investment
and CAIA
Instruments and
Association,
related
2019
compliances
Introduction to
Alternative
Block Chain
Investments: A
Technologies
Primer for
Learning
Investment PPTs, PPTs, Problem
Outcome:
Professionals Practical Sheets, Handouts
53 and 54 Students should
by CFA Problems with notes and
stay updated
Institute practical problems
with emerging
Research
Alternate
Foundation
Investment
and CAIA
Instruments and
 related Association,
compliances 2019
Alternative
Crypto Assets
Investments: A
Learning
Primer for
Outcome:
Investment
Students should
Professionals PPTs, PPTs, Problem
stay updated
by CFA Practical Sheets, Handouts
55 and 56 with emerging
Institute Problems with notes and
Alternate
Research practical problems
Investment
Foundation
Instruments and
and CAIA
related
Association,
compliances
2019
Alternative
NFTs
Investments: A
Learning
Primer for
Outcome:
Investment
Students should
Professionals PPTs, PPTs, Problem
stay updated
by CFA Practical Sheets, Handouts
57 and 58 with emerging
Institute Problems with notes and
Alternate
Research practical problems
Investment
Foundation
Instruments and
and CAIA
related
Association,
compliances
2019
Introduction to
SEBI (Alternate
Investment
Funds)
Regulations. 2012
Learning
SEBI(AIF) PPTs, PPTs, Problem
Outcome:
Regulations, 2012 Practical Sheets, Handouts
59 and 60 Students should
available at Problems with notes and
stay updated
www.sebi.gov.in practical problems
with emerging
Alternate
Investment
Instruments and
related
compliances

Text Books Used:

Certified Alternative Investment Manager (AIM), Taxmann, 2019
Alternate Investment Fund Manager, Taxmann, 2024

Reference Books Used:

Alternative Investments: A Primer for Investment Professionals by CFA
Institute Research Foundation and CAIA Association, 2019
Any Other Information:
SEBI website: www.sebi.gov.in

Research Embedded Learning

Case Studies used (Mention Number): 2

Research Papers used (Mention Number): 2

News articles/web resources used (Mention number): 1

Research-Based ICA Components:

Component Marks
Research Project 0
Research Assignment 0
Research Presentation 0
Writing a Research Paper 15
Any other, please NIL
mention

Out-of-Class Academic Collaboration (OCAC)

OCAC-Based ICA Components

Component Marks
Group Project 5
Group Assignment
Group Presentation 10
Workshops
Guest Lecture Series
Study Tours
Competitions
Exhibitions
Publications
Any other component,
please mention
Total Marks of Internal Continuous Assessment (ICA): 50 Marks

Distribution of ICA Marks: (Minimum 3 Components and Maximum 5 Components)

Description of ICA Marks

Presentation:
10
Individual / Group
Project:
5
Individual / Group
Assignments:
Individual / Group
Research Paper:
15
Individual / Group
Viva
Group Discussion
Quiz
Mid Term Test 20
Any Other
Total Marks 50

Prepared by Course Checked by the Program Approved by Associate

Anchor Chairperson Deans
Course Anchor Name: Name: Name:

Jagabandhu Padhy Dr. Richa Saxena

Signature: Signature Signature

Approved by Dean – ASM SOC