College of Business student-analysts recently presented the Student Managed Investment Fund (SMIF) annual report to industry professionals during their advisory board spring meeting. The $1 million fund, established through the generosity of alumni, is managed by undergraduate students who are responsible for all investment research, portfolio positions, and reporting.
Since inception, the fund has managed institutional funds through periods of considerable uncertainty—trade wars with China, the COVID-19 pandemic, and elections. At present, the SMIF is considerably outperforming the benchmark (CPI + 4%) with annual gains of 37 percent in a market environment that has been, according to Associate Professor of Finance Dr. Bill McCumber, “challenging for the most experienced and thick-skinned professionals.”