Are you a student who wants to dive deeper in the world of investment management? Do you want to learn how to invest in different asset classes (stocks, bonds, options, futures, forwards, private equity)  and measure  what is the impact  of those investments on a planet and humanity as a whole? Then Impact Investment Management is for you!

The minor Impact Investment Management  is designed to prepare students for the requirements of the investment management positions in companies and organizations, according to the latest developments in the business practice. Investors are increasingly aware that their assets create impacts in the world—both positive and negative. Their current investment portfolio is made up of enterprises, funds, real estate, and other financial instruments that exist in and influence a dynamic world. In recent years, “knowing what you own” has become the motto of sustainable and impact investors. Our decisions as consumers, investors, philanthropists, and citizens can have both positive and negative impacts. The recent developments have come about following a shift in how industry participants view the impact of responsible investing on financial performance.

This minor is intended to provide students with a body of knowledge related to investing and funding approaches used by impact investors. This will be done through a combination of lectures, discussions, and presentations by leading impact investors and thought leaders. The substantive areas covered will include: (1) financial instruments and financial markets (2) the differing financial return and  impact return expectations of impact investors; (3) how investors/funders and investment/wealth managers and advisors structure their portfolios and funds; (4) strategies used by impact investors to search for impact investing opportunities; and (5) various financial modelling and investment valuation techniques. As well as investor/funder perspectives, the minor will explore the role of financial innovation in creating opportunities to finance social enterprises, and the enabling regulatory framework and information intermediaries that are needed to support the development of robust social capital markets.

The goal of this minor is to provide the students with necessary tools and skills so they can act as change agents:

• Asses, in a complex field of stakeholders, the impact of the investors and their portfolio’s beyond its financial performance so it
• contributes to the transition of society and creates value for people, nature and direct stakeholders;
• Apply key valuation concepts, frameworks, models, value drivers, obstacles and insights in impact investing and explain how this differs from the traditional investing;
• Own your achievements and disseminate your knowledge on various platforms such as the Impact Cafe of Blue City;
• Possess sound research skills as evidenced in a transparent and systematic collection and analysis of data, reporting of research and findings and critically evaluate the credibility of your research.;
• Demonstrate problem-solving skills in creating a feasible recommendations  for a Impact Investing project;
• Discover  full potential as a human being and as responsible, global citizen who is aware of the boundaries of our planet;
• Act as change-agents for a zero-carbon economy and a safe space for humanity within planetary boundaries

Due to quantitative nature of the minor this minor is recommended to the students with business, technical or natural sciences background. However, it is also possible to conduct self- study to gain needed knowledge prior to the start of the Minor, using videos and small cases with solutions which will be provided before the minor (basic statistics, financial and managerial accounting). During the Minor especially in the first weeks in the interactive lectures the level of knowledge of students is assessed, some basic concepts refreshed in order to bring all the students at the same start level to enable optimal dynamics in the class

1. "Damodaran on Valuation: Security Analysis for Investment and Corporate Finance", A.Damodaran. (2006). Willey ISBN: 978-0471751212
2. "Project Valuation Using Real Options: A Practioner's Guide",
   Kodukula, P. & Papudesu, C., 2006, J.Ross Publishing. ISBN: 9781932159431 
3. Leuhrman.T.(1997) Using APV: A better tool for valuing Operations Harvard Business review may-june 1997:3-10
4. Ruback, R.S. (2002)  Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows  Financial Management   summer 2002:5-30.
5. Perold, A.F. (2004)  The Capital Asset Pricing Model  Journal of Economic Perspectives  18 Number 2, September 2004: 3-24
6. Cooper, I. and Nyborg K.G. (2007)  Valuing the Debt Tax Shield  Journal of Applied Corporate Finance  19: 50-59
7. Mason, S.P. (1996). Introduction to Options. Harvard Business School (286-104).
8. Perold, A.F., & Lee, W. (1995). Options and Put-Call Parity. Harvard Business School.
9. Chacko, G. Hecht, P., & Sjoman, A. (2006). Note on Forward Contracts and Swaps. Harvard Business School.
10. Helman, T. (2001). A Note on Valuation of Venture Capital Ideas. Valuation of Venture Capital Deals Note E-95.
11. Anshuman, V.R., Martin, J., & Titman, S. (2012) An Entrepreneur’s Guide to Understanding the Cost of Venture Capital. Journal of Applied Corporate Finance, 24(3):75-83
12. Ekskäret Foundation, 29K and The New Division . (2021). Inner Development Goals: Background, method and the IDG framework. Growth that matters, AB.
13. Sweeney, L. B. (2001). Systems Thinking: A Means to Understanding our Complex World. Waltham: Pegasus Communications.
14. Meadows, D. H., & Wright, D. (2015). Thinking in systems: A Primer. Chelsea Green Publishing.
15. Pruyn, P. (2022, May 31). An overview of constructive developmental theory (CDT). An Overview of Constructive Developmental Theory (CDT). Retrieved November 25, 2022, from https://peterpruyn.medium.com/an-overview-of-constructive-developmental-theory-cdt-667f3e015cc1
16. Reeder, N., Colantonio, A., Loder, J., & Rocyn Jones, G. (2015). Measuring impact in impact investing: An analysis of the predominant strength that is also its greatest weakness. Journal of Sustainable Finance & Investment, 5(3), 136–154. https://doi.org/10.1080/20430795.2015.1063977
17. Doz, Y., Hillström, E., Kosonen, M., Lähdemäki, J., & Wilson, K. (2017, March 17). Reflections on the "leadership under complexity” workshop. Helsinki; Sitra.
18. Sitra. (2021). (rep.). Guidelines for Responsible Investment. Helsinki: Sitra.
19. Institute For Sustainability Leadership. (2016). (rep.). In search of impact: Measuring the full value of capital. . Cambridge.
20. Institute For Sustainability Leadership. (2019). (rep.). Measuring the full value of capital. Update: Sustainable Investment Framework. Cambridge.
21. We are pushing the frontier of impact intelligence. The GIIN. (n.d.). Retrieved from https://thegiin.org/
22. Williams, E. M. (2018, January 25). Cambridge Impact Leadership Model. Cambridge Institute for Sustainability Leadership. Retrieved from https://www.cisl.cam.ac.uk/resources/cisl-frameworks/leadership-hub/cambridge-impact-leadership-model
23. Fit business - transforming business to thrive in the 21st Century. Future Fit Business. (2022, March 22). Retrieved November 25, 2022, from https://futurefitbusiness.org/

CONTACT HOURS

Block 1 = 8 weeks (11 hours per week) + Block 2 = 8 weeks (11 hours per week)

In Block 1 you will have classes for 9 weeks for about 11 hours per week.  The 11 hours per week will be split up into different days and different activities including central lectures, project groups, plenary activities, guest lectures and discussions.

Besides these scheduled hours, your team will also determine how/when to meet to work on your business.

The setup of Block 2 will be the same as for Block 1.

Block 1:

Financial Modelling and Valuation of Impact Investments

• 2 in class assignments
• Final Assignment

Project Impact Investments

• Project Proposal

Leadership and Professional Transformation

• Interview
• Portfolio

Block 2:

Financial Derivatives, Private Equity and Venture Capital

• 2 in class assignments
• Final Assignment

Project Impact Investments

• Research Report

Leadership and Professional Transformation

• Interview
• Portfolio

Costs

Books: EUR 150

Visits to clients and company visits: EUR 100

Total cost: approximately EUR 250

Kom naar onze online voorlichting

Voorlichting 2 april 20:30 - 21:00