Master of Science in Applied Finance (MAF)

Postgraduate studies at Singapore Management University (SMU) are tailored to groom a new breed of leaders and entrepreneurs through a proven innovative teaching platform and world-class research.

Established in 2002, SMU’s Master of Science in Applied Finance (MAF) is a career-oriented programme designed to provide students with cutting-edge knowledge and competency, to meet the challenges of an increasingly complex global market and thrive in this dynamic industry.

The rigorous MAF programme, with its core and elective courses, offers a challenging learning environment, imparting students a sound blend of financial theory and practice. The programme encourages students to think creatively and acquire a substantial base of new concepts, knowledge, analytical tools and perspectives to facilitate sound financial decision-making.

Singapore Management University (SMU) offers the Master of Science in Applied Finance (MAF) programme by coursework. This landmark programme aims to raise the standard of practitioners’ knowledge and skills in applied finance which has been identified as an area of critical training by the Economic Review Committee and the financial industry.

Besides covering the critical components required to meet the high academic standards of a MAF degree at SMU, the curriculum is also designed to align with the FULL Chartered Financial Analyst (CFA) examination requirements, enabling students to pursue a CFA designation as well. Upon successful completion of the programme, participants will receive their MAF degree conferred by SMU.

• Practitioners in finance or related fields who wish to pursue their CFA designation.
• Professionals who wish to enhance their knowledge and skills in applied finance.
• Those who wish to attain the relevant qualifications in order to obtain an ideal job or enhance their career in the banking and finance industry.

The Master of Science in Applied Finance (MAF) programme aims to equip practitioners with confidence, knowledge and skills in applied finance.

Through the MAF programme, our graduates will be able to:

• Communicate confidently and possess the maturity to handle corporate and financial challenges.
• Have a good understanding of the principles and practice of finance built on a substantial base of new concepts and knowledge.
• Apply this conceptual understanding to real-world business situations.
• Integrate and analyse financial information, and formulate appropriate strategies.

MAF is an intensive programme where candidates must complete 9 core modules, 4 elective modules and Postgraduate Professional Development Series workshops to meet the requirements of SMU’s Master of Science degree. Students may choose to specialise in either one of the track electives - Fund Management, Fintech, or Real Estate.

The MAF Full-Time Programme offers a springboard to students who are interested in working for local or global financial institutions as well as an opportunity to develop their personal and professional networks. All candidates are required to complete 9 Core Modules and 4 Elective Modules in order to be conferred the SMU’s Master of Science degree. It strengthens your understanding of the finance world and helps to enhance your career prospects while providing opportunities to develop your personal and professional networks.

The MAF Full-Time is a full-time course that spans 4 terms. Class sessions are 3½ hours each per module, and are held on weekdays and Saturdays. The class profile of MAF Full-Time is a good mixture of candidates from local and overseas, including candidates from MAF China.

There will also be internship opportunities for the MAF full-time students which will start in Term 4, for a duration of between 10 weeks to 5 months.

In addition, students must complete the SMU Postgraduate Professional Development Series (PDS) and Career Development Series (CDS). PDS is designed to build awareness and develop leadership skills that will be critical in accelerating your professional and personal growth. While the SMU MAF degree develops and equips you with academic and technical capabilities, the PDS complements your studies with development in the areas of leadership, communication and interpersonal effectiveness. CDS equips students with the career management and employment-related skills required to enhance students' competitiveness and growth in their career pursuits.

The schedule below is for the full-time cohort. The part-time cohort will complete the same modules in a similar sequence, but over 5 terms instead of 4 as depicted below.

Term 1: 5 Core Modules

• Financial Statement Analysis
• Quantitative Methods and Economic Analysis
• Corporate Finance
• Fixed Income and Derivative Analysis
• Equity Analysis and Portfolio Management

Term 2: 4 Core Modules

• Advanced Fixed-Income & Derivatives Analysis
• Advanced Equity Analysis & Portfolio Management
• Advanced Financial Statement Analysis
• Advanced Quantitative and Economic Analysis

Term 3: Track Electives

Fund Management (Choose 4 out of 8)

• Sustainable Finance & Alternative Investments
• Structured Products
• Hedge Funds
• PE & VC Investing
• Advanced Corporate Finance
• Bank Risk Management
• Investment Advisory and Wealth Management
• Financial Modelling

Fintech (Choose 4 out of 5)

• Financial Data Science
• Machine Learning & Financial Application
• Quantitative Trading Strategies
• Fintech for Finance
• Innovation in Digital Payment

Real Estate

• Real Estate Investments & Finance
• Analytics in Finance & Real Estate
• Project & Infrastructure Financing
• Real Estate Valuation & Taxation

With a Master of Science in Applied Finance (MAF) degree, a graduate is equipped to work in a wide variety of industries. Based on the results of our annual survey, most candidates are likely to work in the finance sector, fulfilling a range of functions such as Securities and Investments, Business Finance, Banking Services, and Insurance.

• Employees in the Securities and Investments pathway provide investment analysis and guidance to help businesses and individuals with their investment decisions. Examples of such employers are JP Morgan, Standard & Poor's, and UOB Kay Hian.
• Employees in the Business Finance pathway manage and implement policy and strategy for capital structure, budgeting, acquisition and investment, financial modelling and planning, funding, dividends and taxation. They prepare, analyse and verify financial reports and related economic information to assist in making important financial decisions for an organisation. Examples of such employers are Goldman Sachs and Morgan Stanley.
• Employees in the Banking Services pathway provide loans, credit and payment services to businesses and individuals. Examples of such employers are Bank Julius Baer, Barclays Capital, Citigroup, and Credit Suisse.