Students

AFIN8013 – Alternative Securities

2026 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Senior Lecturer
Duc Giang Nguyen
ducgiang.nguyen@mq.edu.au
Contact via Via email
4EaR 537
2pm-3pm on Friday
Credit points Credit points
10
Prerequisites Prerequisites
AFIN6012 or ACST6003 or Admission to MFin
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

In the era of significant market turmoil, institutional, as well as individual investors look beyond traditional investment vehicles such as bonds and shares. Alternative investments are the fastest growing, and probably the least understood, sector of the investment industry. The purpose of this unit is to explore the world of alternative investments such as investments in hedge funds, private equity / venture capital funds, real estate, and commodities, either directly or through funds of funds. The unit gives students a solid understanding of the industry knowledge and techniques that should be part of the toolkit of any money manager who advises private and institutional clients on the inclusion of alternative investments in their portfolio.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Examine the common features of alternative investments and their markets and distinguish among the principal classes of alternative investments. 
  • ULO2: Apply valuation techniques to price alternative investments.
  • ULO3: Assess the benefits, such as return enhancement and/or risk diversification.
  • ULO4: Construct and evaluate a portfolio with alternative investments.

General Assessment Information

Late Submission Penalties

If you submit your assessment late, 5% of the total possible marks will be deducted for each day (including weekends), up to 7 days. Submissions more than 7 days late will receive a mark of 0.

Example 1 (out of 100):

If you score 85/100 but submit 20 hours late, you will lose 5 marks and receive 80/100.

Example 2 (out of 30):

If you score 27/30 but submit 20 hours late, you will lose 1.5 marks and receive 25.5/30.

Extensions

Automatic short extension: Some assessments are eligible for automatic short extension. You can only apply for an automatic short extension before the due date.

Special Consideration: If you need more time due to serious issues and for any assessments that are not eligible for Short Extension, you must apply for Special Consideration. Need help? Review the Special Consideration page for further details.

Assessment Tasks

Name Weighting Hurdle Due Groupwork/Individual Short Extension AI Approach
Formal examination: Test 20% No Week 8 Individual No Observed
Formal examination 50% No University Examination Schedule Individual No Observed
Professional practice: Private markets analysis 30% No 15/05/2026 Individual Yes Open AI

Formal examination: Test

Assessment Type 1: Examination
Indicative Time on Task 2: 15 hours
Due: Week 8
Weighting: 20%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

The purpose of this assessment is for you to demonstrate your understanding and knowledge of key topics from the unit.

You will participate in a formal test. Feedback on your performance will help you assess your progress through the unit content.

Deliverable(s): Test Individual assessment
On successful completion you will be able to:
  • Examine the common features of alternative investments and their markets and distinguish among the principal classes of alternative investments. 
  • Apply valuation techniques to price alternative investments.

Formal examination

Assessment Type 1: Examination
Indicative Time on Task 2: 30 hours
Due: University Examination Schedule
Weighting: 50%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

The purpose of this assessment is for you to demonstrate the expertise you have gained in this unit.

You will participate in a 2-hour exam held during the University Examination period. Important information about the exam will be made available on the unit iLearn page. You should also review the MQ Exams website for general tips: 

Deliverable(s): Formal exam Individual assessment
On successful completion you will be able to:
  • Apply valuation techniques to price alternative investments.
  • Assess the benefits, such as return enhancement and/or risk diversification.
  • Construct and evaluate a portfolio with alternative investments.

Professional practice: Private markets analysis

Assessment Type 1: Professional task
Indicative Time on Task 2: 25 hours
Due: 15/05/2026
Weighting: 30%
Groupwork/Individual: Individual
Short extension 3: Yes
AI Approach: Open AI

The purpose of this assessment is for you to develop investment skills in private markets.

You will apply quantitative and qualitative methods to analyze private market funds or private market data to produce a professional business report with actionable insights.

Skills in focus:

  • Communication skills 
  • Critical thinking and problem solving
  • Discipline knowledge
  • Digital skills
  • Work readiness

Deliverable(s): Written report [max 2,500 words] Individual assessment
On successful completion you will be able to:
  • Examine the common features of alternative investments and their markets and distinguish among the principal classes of alternative investments. 
  • Assess the benefits, such as return enhancement and/or risk diversification.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • Academic Success for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation.

3 An automatic short extension is available for some assessments. Apply through the Service Connect Portal.

Delivery and Resources

Recommended Text

Alternative Investments: CAIA Level I, 3th Edition. Donald R. Chambers, Mark J. P. Anson, Keith H. Black, Hossein B. Kazemi, CAIA Association.

Learning and Teaching Activities

Each week will include one lecture and one tutorial session, with supplementary reading materials provided to support your learning.

Tutorials are compulsory but are not assessed for marks. The tutorial session will take place immediately after the lecture on the same day and in the same location.

 

Unit Schedule

Week 1. Introduction to alternative investments 

Week 2. Fundamentals of alternative investments 

Week 3. Introduction to private equity 

Week 4. Venture capital 

Week 5. Leveraged buyouts (LBO) 

Week 6. Private debt (i) 

Week 7. Private debt (ii) 

Week 8. Mid-semester test 

Week 9: Real assets and mortgages 

Week 10: Real estate equity investments 

Week 11. Hedge funds 

Week 12. Hedge fund strategies 

Week 13. Revisions 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit connect.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Academic Success

Academic Success provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via the Service Connect Portal, or contact Service Connect.

IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/. 

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Unit information based on version 2026.04 of the Handbook