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Deutsch Intern
    Chair of Business Management and Corporate Finance

    Seminar: Securities Management

    Securities Management

    Theoretical part

    So far, the seminar has mainly focused on the analysis of interest-bearing securities on the one hand and equity securities such as shares on the other. Due to the general low interest rate trend in the debt capital markets, interest-bearing securities are becoming less attractive. As a result of this development, further forms of investment are being integrated into the event cycle. The focus here is particularly on the real estate sector. For this reason, the Securities Management event was expanded to include a completely new real estate analysis segment and converted into an asset management seminar. The new real estate segment focuses on the following areas:

    a) Property valuation
       a. Multiples
       b. Market values
       c. Substance values
       d. Liquidation values

    (b) the nature of the real estate investment
       a. Direct
       b. Indirect
           i. Closed-end real estate funds
           ii. Open-ended real estate funds

    c) Real estate financing and refinancing
       a. Loan
       b. Collateral
       c. Pfandbriefe/Covered Bonds

    d) Taxation of real estate investments

    e) Real estate development
       a. Market analysis
       b. Building regulations
       c. Authorisation procedure

    f) Current developments
       a. Rental price brake
       b. Brokerage law

    Practical part

    The number of participants is limited to a maximum of 18 students in order to be able to organise the event sensibly. New participants can only move up for former fellow students. As a rule, it is necessary to have attended the theoretical part (does not apply to participants with a bank apprenticeship or comparable training). In order to obtain the certificate, which is only possible in connection with the theoretical part, one must take part in the practical part regularly and actively for two semesters.

    In terms of content, the practical part has two focal points:

    Each participant has a special area to attend to, i.e. in each session he must present the most important market events in a few sentences and observe the custody account positions belonging to his special area.
    A securities fund provided by Castell-Bank Würzburg is managed (current value approx. EUR 13,000). Each participant has to provide investment suggestions and to take part in the general discussion. All participants must participate in this fund with 15 EUR at the beginning of the respective accounting period (02.11. or 02.05.). At the end of the accounting period you will receive a repayment depending on the development of the fund assets relative to the DAX (German Stock Index), which is between 0 and 65 EUR.