← Investment Analysis and Portfolio Management

Managing and evaluating portfolios in thin markets

Module 05 / 5 · 70 min

Rebalance and plan liquidity where markets are thin, judge managers with risk-adjusted measures, and report eight quarters of a simulated pension fund to an investment committee.

In this module you will learn to

Calculate and interpret the Sharpe ratio, Treynor ratio and Jensen's alpha
Compute time-weighted returns over several quarters and compare them with a benchmark and inflation
Plan rebalancing and liquidity for positions that take weeks or months to trade
Prepare an investment committee report on portfolio performance under Ethiopian market scenarios

Built on

Erudite Africa course specification 2.d: Investment Analysis and Portfolio Management, Levels 1 and 2 (October 2026)
Erudite Africa Training Module: Ethiopian Context, programme overview and regulatory register (October 2026)
Capital Market Proclamation No. 1248/2021; ECMA Directives No. 980/2024 and No. 996/2024; ESX Rulebook (December 2024)
NBE directives as listed in the lessons: SBB/92/2024, SBB/95/2025, SBB/72/2019, FXD/01/2024, NBE/INT/13/2026; NBE Monetary Policy Committee release No. 7 (July 2026)
NBE financial sector data for FY2024/25 and ESX and ECMA market data, as compiled in Investopia sector research (October 2026)

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.