|Funding for:||UK Students, EU Students, International Students|
|Funding amount:||Includes payment of full tuition fees + annual maintenance grant|
|Placed On:||18th January 2019|
|Closes:||28th February 2019|
This is a 1+3 years studentship between the Department of Accounting and Finance at Lancaster University Management School (LUMS) and our industry partner Invesco, funded by the ESRC – Northwest Social Science Doctoral Training Partnership. The PhD Studentship includes payment of full tuition fees and an annual maintenance grant of at least £16,210 (tax-free) in years 1, 2, 3 and 4. The start date is 1st October 2019 and the supervisors are:
Description of the project:
To remain compliant with risk-return targets in the prevailing low-yield environment, many investors have structured their asset allocation to transparent and individual factors. With low interest rates an efficient implementation of such offerings is key, be it passive indexation products or advanced style factor offerings. In this vein, this research project is aimed at theoretically investigating optimal rebalancing of various factor strategies and empirically devising transaction cost models that aid and guide their practical implementation. As such we seek to further the academic profession’s understanding of the underlying economic mechanism and to provide the investment management industry with guideposts to efficiently harvest factor premia. Notably, the PhD student can draw from a proprietary data set of the industry partner that provides a deep history of transaction cost data collected in the implementation of factor-based investment products. Thus, the PhD Candidate will enjoy the unique opportunity to pursue a first-class formal finance education while keeping close ties to the investment management industry. In particular, the PhD student will get comprehensive insight into the Invesco Quantitative Strategies Team with more than 60 investment professionals managing over USD 40bn within a broad range of investment strategies and asset classes.
The successful candidate will automatically be enrolled into the department’s 4 year PhD programme in Accounting and Finance. The admission criteria are:
How to apply:
Please send your CV (including marks’ transcripts) and a motivation letter directly to Prof Mark Shackleton (firstname.lastname@example.org), Dr Sandra Nolte (S.Nolte@lancaster.ac.uk) and Dr Harald Lohre (email@example.com); and apply formally to the department’s PhD programme. More details can be found under www.lancaster.ac.uk/lums/our-departments/accounting-and-finance/phd/
Please apply before 28th February 2019.
Type / Role: