SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Postgraduate Diploma in Investment Management 
SAQA QUAL ID QUALIFICATION TITLE
94678  Postgraduate Diploma in Investment Management 
ORIGINATOR
Milpark Education (Pty) Ltd 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Postgraduate Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
This qualification is aimed at equipping learners with advanced theoretical and practical knowledge on equities, fixed income, derivatives, other alternative instruments and portfolio management as well as financial analysis, reporting and corporate finance. This qualification allows learners to develop an understanding of the ethical and risk environment in which they will operate. They will also build on their prior economics knowledge and learn how to model and forecast economic scenarios that will enable them to make predictions. Finally, learners can deepen their skills in specific areas - that is, global investments or company strategy and analysis.

This qualification builds on the Bachelor of Commerce in Investment Management, where the curriculum was aligned to the Chartered Financial Analyst (CFA) Level 1 curriculum. The curriculum of this Postgraduate Diploma was aligned to the CFA Level 2 curriculum. Learners who have completed the Postgraduate Diploma in Investment Management will be able to register for the CFA Level 2 examination.

The qualifying learner will:
  • Demonstrate knowledge of the ethical and risk management background against which investment management operates in order to operate efficiently in an investment management environment.
  • Demonstrate a basic understanding of advanced economic concepts and how to model those statistically in order to be able to later on forecast prices for financial instruments and/or markets.
  • Demonstrate an understanding of selected concepts in financial reporting, analysis and corporate finance from an American and South African perspective in order to be able to come to a conclusion about the entity analysed and make a recommendation/decision on whether to buy or sell.
  • Demonstrate advanced knowledge of equities and fixed income, with regard to analysis, forecasting/pricing and decision making in order to present a recommendation or make investment decisions.
  • Demonstrate basic knowledge of special fields like global investments, company strategy and analysis or performing an investment project so that the student can operate more efficiently in an investment management context.
  • Demonstrate advanced knowledge of selected concepts on derivatives, alternative investments and portfolio management in order to successfully manage investment portfolios and the risks attached to it.

    Rationale:
    With this qualification learners will acquire specific skills needed to perform professionally in an analyst or in fund manager's role at an entry level. Currently, most investment management companies have a similar qualification in a related discipline as an entry requirement into the role.

    The typical learner will be an individual who is either currently working or who aspires to work as a fund manager or analyst and/or in another role in the investment management arena where detailed investment knowledge is required. This new qualification will add value to the sector by addressing a need for the integration of theoretical knowledge with the responsibilities of entry level managers through practical application. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    RPL access may be considered for mature age applicants and applicants with non-South African school-leaving qualifications or previous tertiary education experience. However, Recognition of Prior Learning assessment will be considered only on condition that it is assessed as equal to a formal 360 Credits Bachelor's qualification.

    Entry Requirements:
    An applicant is required to have the following qualifications to gain access to this qualification:
  • Bachelor of Commerce or related Degree with majors in Banking and/or Investment Management.
  • Bachelor of Commerce with other majors or a Bachelors' Degree (for example, BCompt, B Accounting or BAdmin) can also be admitted provided that applicants submit proof of relevant experience (2 years recommended) in the financial services and/or other evidence of suitability for admission. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    The qualification comprises five compulsory modules and one elective, which amount to 120credits.

    Compulsory Modules:
  • Advanced Ethics and Risk Management in the Investment Industry, 15 Credits.
  • Economics and Statistics, 10 Credits.
  • Financial Reporting and Analysis and Corporate Finance, 25 Credits.
  • Equities and Fixed Income, 25 Credits.
  • Alternative Investments and Derivatives and Portfolio Management, 25 Credits.

    Elective Modules:
    Learners must register for one of the following electives, worth 20 Credits each:
  • Global Investments.
  • Company Strategy and Analysis.
  • Investment Project. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Demonstrate knowledge of the ethical and risk management background against which investment management operates in order to operate efficiently in an investment management environment.
    2. Demonstrate a basic understanding of advanced economical concepts and how to model those statistically in order to be able to later on forecast prices for financial instruments and/or markets.
    3. Demonstrate an understanding of selected concepts in financial reporting, analysis and corporate finance from an American and South African perspective in order to be able to come to a conclusion about the entity analysed and make a recommendation/decision on whether to buy or sell.
    4. Demonstrate advanced knowledge of equities and fixed income, in terms of analysis, forecasting/pricing and decision making in order to present a recommendation or make investment decisions.
    5. Demonstrate advanced knowledge of selected concepts on derivatives, alternative investments and portfolio management in order to successfully manage investment portfolios and the risks attached to it.
    6. Demonstrate basic knowledge of special fields like global investments, company strategy and analysis or performing an investment project so that the student can operate more efficiently in an investment management context. 

    ASSOCIATED ASSESSMENT CRITERIA 
    The following Assessment Criteria are applied in an integrated way to modules and specialised learning areas, where applicable, to determine competence in the Exit Level Outcomes:
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Various advanced ethical dilemmas facing the investment industry are considered and solved.
  • Different socially responsible investment strategies are identified and evaluated.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Different currency and economic scenarios are identified and linked back to the investment decision.
  • The way in which an economic scenario is forecasted with the help of statistical models is explained.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Very specific areas of financial statements are explained in detail.
  • The concept of earnings quality and how financial ratios are analysed is explained and examples are given.
  • Selected corporate finance concepts are explained and applied to a case scenario.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Different equity valuation models are applied to a case scenario.
  • Different fixed income valuation models are applied to a case scenario.
  • Main principles of credit analysis are explained.

    Associated Assessment Criteria for Exit Level Outcome 5
  • Different aspects of portfolio management are explained in detail.
  • Different categories of alternative investment tools and derivatives are valued and their use in a portfolio evaluated.

    Associated Assessment Criteria for Exit Level Outcome 6:
  • Additional appropriate and more detailed knowledge of a specialist area that relates to investment management is applied on an entrance-level or an investment project is conducted.

    Integrated Assessment:
    Integrated Assessment is used extensively across the qualification, particularly in case studies. Self and formative assessment takes place through case studies, assignments, including the writing of a proposal and executing a project. Summative assessments are integrated into the learning in that they take place at the end of each of the constituent modules of the programme.

    The quality of the assessment is vital in order to provide credible certification and recognition of achievement. The institution makes every effort to ensure credibility in assessment through the application of clear and rigorous procedures and practices. These procedures and practices are controlled by the principles of fairness, validity, reliability and practicability. By implementing these principles, all parties concerned (including learners, employers and learning institutions) may be assured of the credibility of the assessment process. It is in this way that accurate information about the learner's performance against the assessment criteria may be provided. 
    		•

    INTERNATIONAL COMPARABILITY 
    Dublin Institute of Technology Graduate Business School, Ireland:

    Postgraduate Diploma in Finance:
    This is an intensive one year full time qualification for non-finance graduates wishing to pursue a career in the financial services industry or a career in the finance function. The qualification offers graduates an excellent grounding for further postgraduate studies.

    Modules:
    Semester 1:
  • Corporate Finance I.
  • Economics.
  • Mathematics for Finance and Economics.
  • Financial Econometrics I.
  • Derivatives I.
  • Macroeconomics and International Finance.

    Semester 2:
  • Macroeconomics and International Finance.
  • Corporate Finance II.
  • Financial Econometrics II.
  • Financial Econometrics II.
  • Derivatives II.
  • Financial Statement Analysis.
  • Financial Services Governance and Regulations.
  • Macroeconomics and International Finance.

    Entry Requirements:
  • Applicants should have an Honours Degree or higher in any discipline.
  • Applicants may be required to demonstrate an aptitude test in Mathematics.

    Key Features:
  • Finance skills are developed assuming no past knowledge of the area.
  • Classes are small with the emphasis on individual and group learning.
  • The qualification is career focused, practical and develops technical competency.

    Ahmedabad University, Amrut Mody School Of Management, India:

    Post Graduate Diploma in Finance, Banking and Investment Management.

    Purpose:
    This qualification grooms the learners in areas of international finance, mergers and acquisitions, the Indian financial system, wide range of financial services, financial projections etc. The Postgraduate Diploma in Finance, Banking and Investment Management provides a combination of accounting and analytical skill. Analytics has been emerged as a special branch of finance with the rapid growth of finance sectors like the stock market, mutual funds, derivatives, insurance etc. The qualification addresses the different outputs of accounting, how to raise funds, how to manage funds and interpret financial statements. The qualification enhances employment opportunities for graduates in the finance and accounting sector such as banking, mutual funds, insurance, stock market, equity market etc.

    Program curriculum:
    Semester 1:
  • Marketing Management.
  • Organisational Behaviour and Communication Skills.
  • Introduction to Finance.
  • Indian Business Environment.
  • Indian Financial System.
  • Financial Management.
  • Corporate Finance.

    Semester 2:
  • International Finance and Banking.
  • Investment and Portfolio Management.
  • Banking, Insurance and Financial Services.
  • Corporate Restructuring.
  • Entrepreneurship and Project Financing.
  • Contemporary Corporate Issues.
  • Information Technology and Overseas Project Management.
  • Grand Project.

    Business India Institute of Finance:

    Postgraduate Diploma in Finance:
    This qualification is carefully designed to cover all major areas that a learner needs in terms of theoretical knowledge, real world training followed by live case studies. It is ideal for learners who want to pursue careers in Banking, Financial Analysis, and Corporate Finance.

    Modules:
    Quantitative Analysis for Investment Management.
    The following topics are addressed in this module:
  • Basic Statistical and Probability Concepts.
  • Probability, Sampling and Estimation.
  • Hypothesis Testing.

    Economics:
    The following topics are addressed in this module:
  • Elasticity, Efficiency and Equity.
  • Perfect Competition, Monopolistic Competition and oligopoly.
  • Aggregate Supply and Aggregate Demand.
  • Fiscal and Monetary Policy.

    Financial Reporting and Analysis:
    The following topics are addressed in this module:
  • Financial Statement Analysis: An Introduction.
  • Understanding the Income Statement, Balance Sheet and Cash Flow Statement.
  • Financial Analysis Techniques.
  • Financial Statement Analysis: Applications.

    Corporate Finance:
    The following topics are addressed in this module:
  • Capital Budgeting and Cost of capital.
  • Measures of Leverage.
  • Dividends and Share Repurchases.
  • Working Capital Management.
  • Corporate Governance.

    Equity Investments:
    The following topics are addressed in this module:
  • Portfolio Management: An Overview.
  • Portfolio Risk and Return.
  • Basics of Portfolio Planning and Construction.

    Fixed Income:
    The following topics are addressed in this module:
  • Fixed Income Securities and their Characteristics.
  • Understanding Yield Spreads.
  • Valuation of Debt Securities.
  • Yield measures, Spot Rates, and Forward Rates.
  • Measurement of Interest Rate Risk.

    Derivatives and Alternative Assets:
    The following topics are addressed in this module:
  • Alternative Investments.
  • Investing in Commodities.
  • Derivative Markets and Instruments.
  • Forward, Future and Options.
  • Swap Markets and Contracts.
  • Risk Management Applications of Option Strategies.

    Portfolio Management and Wealth Planning:
    The following topics are addressed in this module:
  • Portfolio Management: An Overview.
  • Portfolio Risk and Return.
  • Basics of Portfolio Planning and Construction.

    Conclusion:
    Whilst the overall structure of these qualifications varies regarding the areas of study and credit the focus remains the same. Although the credit values of the international offerings are not available, these qualifications primarily all intend to equip learners with requisite knowledge and to hold their own in the finance and accounting sectors. Thus, the Postgraduate Diploma in Investment Management compares favourably with the international offerings. 
    		•

    ARTICULATION OPTIONS 
    Horizontally, learners may be able to articulate into a similar structured qualification on NQF Level 8 - for example, a Postgraduate Diploma in Business Management; Management; Financial Planning etc.

    Vertical Articulation is possible in that qualifying learners may articulate into a related Master's Degree - for example, a Master of Business Administration or structured Master of Commerce. 

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Milpark Education (Pty) Ltd 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.