assignment i. Draft a code of personal conduct, justifying five areas, for professionals in the Securities and Funds Management industry of Ghana. (12 marks) ii. Discuss four reasons for a policy statement in Financial Investment. (8 marks) iii. A 40-year-old civil servant client of yours is 20 years away from retirement; A 35-year-old self- employed also needs an investment policy statement. In writing their investment policy statement how might their investment policy statements differ? (7 marks) b. Your broker two stocks as good to purchase; stock GAAB and stock PUFF. The two stocks each pay a GHS 1.5 dividend that is growing annually at 9 percent. Stock GAAB has a beta of 1.4 while stock PUFF's beta is 0.85. i. Which stock is more volatile and why? ii. If treasury bills yield 8 percent and you expect the market return to rise by 15.5 percent, what is your risk-adjusted required rate of return? iii. Using the dividend-growth model, what is the maximum amount you would be willing to pay for each stock? iv. Why are your valuations different? (7 marks) c. Distinguish between financial assets and real assets for each of the following characteristics. i. Divisibility ii. Marketability iii. Holding period iv. Information availability Correlation 1 2 3 1 5 5 7 3 2 1 2 3 1 7 3 1 2 3 7 5 5 7 3 Date S&P 500 Gold 3/1/2016 2059.73999 1289.199951 4/1/2016 2065.300049 1214.800049 5/1/2016 2096.949951 1318.400024 6/1/2016 2098.860107 1349 7/1/2016 2173.600098 1306.900024 8/1/2016 2170.949951 1313.300049 9/1/2016 2168.27002 1271.5 10/1/2016 2126.149902 1170.800049 11/1/2016 2198.810059 1150 12/1/2016 2238.830078 1208.599976 1/1/2017 2278.870117 1252.599976 2/1/2017 2363.639893 1247.300049 3/1/2017 2362.719971 1266.099976 4/1/2017 2384.199951 1272 5/1/2017 2411.800049 1240.699951 6/1/2017 2423.409912 1266.599976 7/1/2017 2470.300049 1316.199951 8/1/2017 2471.649902 1281.5 9/1/2017 2519.360107 1267 10/1/2017 2575.26001 1273.199951 11/1/2017 2647.580078 1306.300049 12/1/2017 2673.610107 1339 1/1/2018 2823.810059 1315.5 2/1/2018 2713.830078 1322.800049 3/1/2018 2640.870117 1316.199951 4/1/2018 2648.050049 1300.099976 5/1/2018 2705.27002 1251.300049 6/1/2018 2718.370117 1223.699951 7/1/2018 2816.290039 1200.300049 8/1/2018 2901.52002 1191.5 9/1/2018 2913.97998 1212.300049 10/1/2018 2711.73999 1220.199951 11/1/2018 2760.169922 1278.300049 12/1/2018 2506.850098 1319.699951 1/1/2019 2704.100098 1312.800049 2/1/2019 2784.48999 1293 3/1/2019 2834.399902 1282.800049 4/1/2019 2945.830078 1305.800049 5/1/2019 2752.060059 1409.699951 6/1/2019 2941.76001 1426.099976 7/1/2019 2980.379883 1519.099976 8/1/2019 2926.459961 1465.699951 9/1/2019 2976.73999 1511.400024 10/1/2019 3037.560059 1465.599976 11/1/2019 3140.97998 1519.5 12/1/2019 3230.780029 1582.900024 1/1/2020 3225.52002 1564.099976 2/1/2020 2954.219971 1583.400024 3/1/2020 2584.590088 1684.199951 4/1/2020 2912.429932 1736.900024 5/1/2020 3044.310059 1793 6/1/2020 3100.290039 1962.800049 7/1/2020 3271.120117 1967.599976 8/1/2020 3500.310059 1887.5 9/1/2020 3363 1877.400024 10/1/2020 3269.959961 1775.699951 11/1/2020 3621.629883 1893.099976 12/1/2020 3756.070068 1847.300049 1/1/2021 3714.23999 1728.099976 2/1/2021 3934.830078 1698 2/19/2021 3906.709961 1698.199951 1 2 2. 3 1 5 7 3 1 2 3 1 5 5 7 3 7 2 A B C D E F G 1 2 3 4 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 75 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 10/31/1995 11/30/1995 12/29/1995 1/31/1996 2/29/1996 3/29/1996 4/30/1996 5/31/1996 6/28/1996 7/31/1996 8/30/1996 9/30/1996 10/31/1996 11/29/1996 12/31/1996 1/31/1997 2/28/1997 3/31/1997 4/30/1997 5/30/1997 6/30/1997 7/31/1997 8/29/1997 9/30/1997 10/31/1997 11/28/1997 12/31/1997 1/30/1998 2/27/1998 3/31/1998 4/30/1998 5/29/1998 6/30/1998 7/31/1998 8/31/1998 9/30/1998 10/30/1998 11/30/1998 12/31/1998 1/29/1999 2/26/1999 3/31/1999 4/30/1999 5/31/1999 6/30/1999 7/30/1999 8/31/1999 4681.3 4754.9 5154.1 5395.9 5129.4 5267.3 5425.5 5762.3 6087.1 5745.9 5903.4 6462 6373.7 6598.7 6705.5 7555 7243 7760.6 7700.7 8396.6 9705.4 10154.9 9301.8 11129.8 10537.4 10198.3 10790.2 10512.3 10993.4 12255.5 11772.9 12541.1 13284.1 11511.7 9707.2 11936.2 10835.9 11922.1 9571.2 9927.7 10537.8 12656.4 14375.7 13122.3 13876.6 13500.4 13840.7 675 625.1 683.9 730.7 754.7 792.1 901.2 856.9 851.7 861 878.2 931.6 1022 1023.8 1135.3 1219.8 1244.6 1213.9 1200.7 1103.2 1289.3 1456 1305.7 1237.3 1236.1 1331.8 1512.1 1523.7 1555.6 1604.5 1644.4 1579.6 1626.6 1640.6 1520 1885.8 1990.8 2323.5 2105.9 2597.6 2406.9 2342.4 2226.7 2406.6 2577 2433 2467.4 142.4 #NA 155.6 91.9 165.3 96.9 164.9 106 166.6 107.1 161.6 102.8 163.6 125.5 159.9 137.3 162.9 147.9 165.3 130 176.6 126.6 183.2 151.6 181 140.9 193.5 157 228.4 152.8 248 177 267.4 162 268.5 164.7 306.4 170.3 343.1 165.3 378.1 195.3 363 212.9 354.8 199.7 409 220.5 342.7 192.1 378.8 204 426.9 202.4 461.1 211.8 600.1 210.6 658.4 250.3 680.1 239.4 644.9 250.6 663.5 240.8 723.6 235.8 484.2 189.7 379.4 208.7 445 201 509.5 214.5 487.2 222.5 488.6 208.2 520.2 209.4 546.1 235.3 592.5 248.5 576.1 242.1 582.2 236.8 536.7 232.7 550.6 232.7 1205 1177.7 834.6 853.7 740.8 748.4 808.9 982.6 828 771.4 933.8 1003.8 1031.1 1258.3 1310.6 1595.7 1500 1499.3 1605.2 1661.9 1929.6 2359.9 2069.8 2492.2 2233 2104.8 1897.1 2130.4 2701.6 2987.8 3630.6 3536.6 3994.3 4704.3 3791.1 3998.6 4543.5 5006.4 6147.8 7575.9 7346 8855.5 8665.4 8196.2 10096.8 9621.7 9384.1