Student Managed Funds – a panel discussion

Abstract

Purpose Student Managed Funds (SMFs) are extremely popular investment programs at many colleges and universities that provide their students with experiential learning opportunities to manage real money. However, the size, scope and specific features of these SMFs differ substantially. The purpose of this paper is to deliberate about a panel discussion on several important SMF issues that took place at the Southern Finance Association conference in November, 2016. Design/methodology/approach The panel includes one moderator and four panelists, all of whom serve as SMF faculty directors at their respective schools. Findings The panelists’ answers show that almost no two SMFs are created the same, supervised the same way by different faculty directors or managed the same way by their respective students. Originality/value The panelists provide insight about their respective SMFs and offer advice on how to create SMFs and how to supervise students managing SMFs in a more effective manner.

Student-Managed Commodity Fund—A New Frontier in Experiential Learning

“…Some of the biggest challenges of creating a SMIF are associated with dealing with red tape and establishing the structure of the program including investment guidelines and organizational bylaws. Holzhauer et al (2019) suggests that this process typically takes about a year. Another challenge described in the previous studies is access to a limited number of qualified students who are interested in participating in a SMIF (DeBoeuf, 2019).…”

“…It is an extremely time consuming but rewarding commitment" (Holzhauer et al, 2019, p. 8). It is important that university administration recognizes the time and effort involved in running such a program and rewards the faculty member formally or informally (Holzhauer et al, 2019).…”

“…Student-managed investment funds (SMIFs) are real monetary portfolios managed by university students who treat the portfolio as a financial manager would treat the funds of his or her clients (Gradisher et al, 2016;Lawrence, 1994). SMIFs have been recognized as premier tools for investment education among finance departments nationally and around the world (Holzhauer et al, 2019). Survey data from Lawrence (2008) and Rise Vision (http:// universityfinancelab.com/finance-lab-stats) indicate that about 10% of U.S. universities have a SMIF.…”

“…Survey data from Lawrence (2008) and Rise Vision (http:// universityfinancelab.com/finance-lab-stats) indicate that about 10% of U.S. universities have a SMIF. Modern SMIFs share information and ideas through the Student Managed Investment Fund Consortium (https://www.indstate.edu/business/SMIFC) and during professional meetings (Holzhauer et al, 2019).…”

Guest editorial

“…Special Issue No. 1: traditional SIM programs: From the University of Tennessee at Chattanooga, (Student Managed Funds – a panel discussion), submitted by Hunter Holzhauer, Arindam Bandopadhyaya, Deborah Harrell, Timothy A. Krause and Judson Russell (2020). From Austin Peay State University, (A student-managed investment fund course design structure), submitted by Michael D. Phillips, John X. Volker and Susan Cockrell (2020). From Truman State University (Variation in the structure and administration of student-managed funds), submitted by Charles M. Boughton and Katherine L. Jackson (2020). From Whitworth University, (Student investment groups: enhancing the liberal arts experience), submitted by Brian D. Bergquist, Dawn L. Keig and Timothy J. Wilkinson (2020). From Western Illinois University, (Structuring stock investment funds with a limited number of qualified students), submitted by David Deboeuf (2020). From California State University Long Beach, (The learning experience continues: two decades and counting for the CSULB’s SMIF program), submitted by Peter A. Ammermann, Pia Gupta and Yulong Ma (2020). From Stonehill College, (A five-year retrospective on an undergraduate SIMF program), submitted by Michael G. Mullen and Debra Salvucci (2019). From the University of Utah, (The essence of investing: experiential education with a student-run portfolio), submitted by Elizabeth Tashjian (2020). From the University of Connecticut, (Student managed fund (SMF) at the University of Connecticut: history, purpose, performance and the future), submitted by Chinmoy Ghosh, Paul Gilson and Michael Rokatomavo (2020). From the University of Arkansas, (Rebsamen investment fund integration in finance education), submitted by Samar Ashour, Craig G. Rennie and Sergio Santamaria (2020). From Memorial University in Newfoundland, Canada, (Confessions of a faculty advisor: development of a student managed investment fund program under constraints), submitted by Erin Oldford (2020).…”