M Aster Of Finance In Alternative Investments

Master of Finance inAlternative Investments

TA B L E O F CO N T E N T SThe Isenberg MFAI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Faculty. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Partnerships and Resources. . . . . . . . . . . . . . . . . . . . 6Career Support. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8The University of Massachusetts Amherst. . .10Requirements and Curriculum. . . . . . . . . . . . . . . . . 12I S E N B E R G M A S T E R O F F I N A N C E I N A LT E R N AT I V E I N V E S T M E N T SA Message fromthe Program DirectorAs global financial markets become increasingly complex andinvestors seek greater diversification, there has never been moredemand for expertise in the field of alternative investments.While traditional investments are generally defined as long stocks,long bonds, and cash, alternative investments include asset classessuch as real assets, private equity and venture capital, commodities,hedge funds, and structured products. And thanks to our uniquepartnerships and faculty’s thought leadership, there is no betterplace to study alternative investments than the Isenberg School ofManagement at the University of Massachusetts Amherst.Isenberg’s finance department is recognized around the globefor its distinguished faculty, alternative investments research center,conferences, and connections with industry leaders. And with afocus on data-driven decision making, innovation, and collaboration,the Isenberg educational experience and large alumni network givestudents a strong advantage in today’s business environment. I inviteyou to explore this program guide to find out more about this excitingprogram. Please contact us if you have any questions.Bing Liang, PhDCHARLES P. MCQUAID ENDOWED PROFESSOR OF FINANCEMASTER OF FINANCE IN ALTERNATIVE INVESTMENTS (MFAI) PROGRAM DIRECTORISENBERG SCHOOL OF MANAGEMENT1

MFAI CAREERSWhether you are applyingstraight from an undergraduateprogram, switching your careerfocus, or seeking to deepenyour knowledge of alternativeinvestments, the Isenberg MFAIprovides you with the skills tothrive in alternative investmentsand to broaden your networkof finance professionals. Thisprogram is designed for studentswith a background in financeor quantitative experience insubject areas such as calculusand statistics.Alternative investments are arapidly growing but complicatedasset class requiring cutting-edgeinformation about best practices,ethics, and regulations as well asa full range of strategies. Firms,institutions, and governmentagencies increasingly invest in thisexpertise, and the MFAI deliversthe specialized knowledge youneed to distinguish yourself inthe industry.I S E N B E R G M A S T E R O F F I N A N C E I N A LT E R N AT I V E I N V E S T M E N T SWHO IT’S FORAbout the program.The Isenberg Master of Finance in Alternative Investments (MFAI)is the first of its kind. Working with the world’s leading experts inalternative investments, you learn to apply real-world solutions andpractices through a progressive curriculum, team-based learning,small classes, and hands-on problem solving.PROGR AM CURRICULUMOur 12-month, 10-course program prepares you for all aspects ofalternative investments, including creating and growing wealth as wellas managing risk across a broad array of asset classes such as hedgefunds, private equity, venture capital, commodities, sustainable finance,real estate, and more. A smart investment in your future, the IsenbergMFAI is comprehensive, relevant, and responsive to both student needsand the rapidly changing marketplace.Learn more at isenberg.umass.edu/mfai2Isenberg is accredited at the highest level by the Association to Advance CollegiateSchools of Business (AACSB). What does this mean for you? Your degree is monitoredand held to a higher standard. In fact, only 25 percent of U.S. business schoolsachieve AACSB International accreditation. Our programs create the strongestfoundation possible for your career advancement.3

Expert facultylead the way.Dedicated and student-focused, MFAI faculty members arealso gifted teachers and mentors committed to the successof students in and out of the classroom—and throughouttheir careers in alternative investments.I S E N B E R G M FA I FAC U LT YThe MFAI faculty at Isenberg are world-renowned scholarsand practitioners who use state-of-the-art technology andhands-on learning to instill confidence and competency and,in the process, coach students to be leaders in alternativeinvestments. They infuse case studies with real-worldexperiences that bring theory to life.Sanjay Nawalkha, PhDInstructs Sustainable Finance:Environmental, Social and GovernanceIssues on Capital MarketsThanks to the expertise ofIsenberg’s faculty, we were ableto create a balanced programthat incorporates the best ofindustry practices and the latestfindings of academic research.The faculty infuse their first-handknowledge into every aspectof the program.HOSSEIN KAZEMIMICHAEL AND CHERYL PHILIPP ENDOWEDPROFESSOR OF FINANCEDIRECTOR, CISDMCAIA ASSOCIATION SENIOR ADVISOR45

6UNIQUE PARTNERSHIPSUNPAR ALLELED RESOURCESIsenberg’s partnerships extend the MFAI experience beyond theclassroom, creating access to industry thought leaders and executives,conferences, research opportunities, and more.As a hub for alternative investments research and practice, Isenbergprovides unparalleled resources and advanced teaching aides such asmultiple Bloomberg terminals and certification, as well as severaldatabases including the Morningstar CISDM Hedge Fund/CTA database,CRSP database for historical stock prices, Compustat for accountingdata, OptionMetrics for options data, Morningstar Direct mutual funddata, and Thomson Financials 13F institutional holdings data.Center forInternationalSecurities andDerivativesMarkets (CISDM)Under the direction of Professor Hossein Kazemi,the Isenberg‑based center hosts conferences, connectsacademic and business communities, and provides accessto the Morningstar/CISDM Database. CISDM places theIsenberg School at the forefront of academic institutionsthat conduct research into derivatives, alternativeinvestments, and asset and risk management.CharteredAlternativeInvestmentAnalyst Association(CAIA)In 2002, CISDM co-founded the Amherst-basedChartered Alternative Investment Analyst Association,which supplies credentials and support for alternativeinvestments professionals worldwide. Some of theprofessionals at CAIA will teach in the MFAI program,helping students to be well-prepared if they choose tosit for CAIA exams upon graduation.The Journalof AlternativeInvestments (JAI)Edited by MFAI faculty and housed at the Isenberg School,this official publication of the CAIA offers readers challengingideas, practical tools, and expert analysis on managingportfolios. MFAI students benefit from exposure to currentresearch in alternative investments as well as from the editors’resources and connections in the profession.I SEN BERG M FAI PA RTNER SHIP S A N D RESOURCESPartnershipsand resources.MFAI graduates interested in CAIAcertification can skip the Level I Examand be eligible for one of ten scholarshipsthe association will have available forstudents taking the Level II Exam.What’s more, the finance department and CISDM host conferences,events, and weekly seminars, attracting alternative investments scholarsand executives from the nearby financial centers of New York andBoston as well as from around the globe.7

BY THE NUMBERS 18.1TRILLIONPROJECTED ASSETS IN THEALTERNATIVE INVESTMENTSMARKETPLACE BY THE YEAR 202086%OF ISENBERG FINANCE STUDENTSACCEPT JOBS WITHIN 3 MONTHSOF GRADUATION*Fast trackto success.ALUMNI NETWORK SIZEALUMNI IN 82 COUNTRIESPL ACEMENT OPPORTUNITIESAlternative investments is the fastest-growing area in the asset management industryin both the United States and abroad. In fact, assets are projected to grow an averageof 11% a year through at least 2020, according to the accounting firm PwC. The MFAIreadies you for the future of finance by conferring both the know-how and the credibilityyou need to accelerate your career in just one year, with no previous job experiencerequired. In addition, Isenberg’s Chase Career Center will work with you to craft ajob-search strategy based on your individual strengths and career goals, prepare you forinterviews, and leverage Isenberg’s alumni network.Leading hedge funds, pensionfunds, money management firms,private equity firms, consultingcompanies, university endowments,and regulatory agencies are allseeking employees with expertisein alternative investments: GoogleBlackRockGoldman SachsThe World BankState StreetWellington ManagementFidelity InvestmentsVanguardThe Carlyle GroupOppenheimerFundsUBSDeloitteJPMorgan ChaseDeutsche BankISENBERG MFAI C AREER SUPPORT44,000 CAREERS IN ALTERNATIVEINVESTMENTSThe MFAI program prepares youfor some of the highest-payingfinance jobs, including: AnalystPersonal investment advisorRisk officerCompliance officerTraderPortfolio managerPension consultantResearcherFinancial economist*Data based on the 2017 BBA finance graduating class.89

Life at UMassand in thePioneer Valley.UMassAmherst isranked #1for bestcampus food.THE PRINCETONREVIEW, 201810THE UNIVERSIT Y OF MASSACHUSET TS AMHERSTThe UMass Amherst campus is home to a multiculturalcommunity in the scenic Pioneer Valley of WesternMassachusetts. The area is renowned for its outstandingquality of life, including a varied arts and culture scene,abundant outdoor recreation, and a unique entrepreneuriallifestyle. The town of Amherst is continuously voted one ofAmerica’s best college towns and is within easy access toBoston and New York.FOODCAMPUSRECREATIONCULTUREISENBERGWhether it is at small cafés,artisan bakeries, or farm-to-tablerestaurants, the sidewalks ofAmherst—and the surroundingtowns—are lined with options forgrabbing a quick bite or lingeringover dinner. The Pioneer Valleyis home to more than fifteenmicrobreweries and wineries.Isenberg’s location providesan ideal environment for ourstudents. Our building is inthe center of UMass’ attractivepedestrian campus, affordingeasy access to our award-winningfood services, the library, anda multitude of activities. Inaddition, UMass Amherst is partof the renowned Five CollegesConsortium, along with AmherstCollege, Hampshire College,Mount Holyoke College, and SmithCollege. Each school has a librarywith distinctive collections andstudents have open borrowingprivileges. A free bus systemlinks the Five Colleges to thesurrounding towns.The Amherst area is known forboth its picturesque scenery andvibrant seasons, from colorfulautumns to snowy winters. Hikers,bikers, skiers, and snowboardersare never more than a half-hourfrom their next adventure. Oncampus, the 120,000-square-footUMass Recreation Center featurestwo pools, tennis courts, weights,fitness classes, an indoor joggingtrack, a wellness center, and more.Home to artists, musicians, andacademics, the Amherst areacontinues to attract forwardthinkers, fueling a uniqueentrepreneurial culture. What’smore, the area is known for atop-notch music and arts scene.Catch outstanding performancesat venues like the Calvin Theaterand the UMass Fine Arts Center aswell as at Mass MoCA and Jacob’sPillow in the Berkshires. Stay localfor the weekend or make a quicktrip to see the sights of New YorkCity or Boston.Our school provides you withan ideal collaborative learningenvironment anchored by the newInnovation Hub, an ultra-modern70,000-square-foot space thatcomprises high-tech classrooms,a learning commons, businessanalytics labs, conference rooms,and the greatly expanded ChaseCareer Center.11