The Art and Science of Student-Managed Investment Portfolios

Yerkes, Rustin T.

doi:10.3905/jot.2018.13.1.039

Cited by 4 publications

(5 citation statements)

References 12 publications

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“…This challenge among the SMIF managers in adopting ESG screens is consistent with the observations of Clinebell (2013) and Yerkes (2018). They noted that a SMIF would face a challenge in balancing traditional risk-return objectives and selecting companies based on ESG screening.…”

Section: Findings and Discussionsupporting

confidence: 79%

“…Among the various benefits they mentioned, making the fund sustainable is the most important factor, leading to the necessity of registration. Yerkes (2018) supported this viewpoint of making the fund managed by a SMIF perennial. He stated that in doing so, a SMIF would closely replicate the professionally managed funds in terms of assets under management.…”

Section: Catching Up With Realities Of Real-world Fund Managementmentioning

confidence: 85%

“…Consequently, a student-managed investment fund (SMIF) is an improvement over simulation. As students manage real funds in a SMIF, they would be more cautious in their analysis as there are real repercussions for losing money from trades (Yerkes, 2018).…”

Section: Introductionmentioning

confidence: 99%

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Student-managed investment funds (SMIFs) in India: the perspectives of student fund managers

Joseph

Jose²,

Iyer³

2022

JIEB

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Purpose This paper aims to explore how the student fund managers perceive the benefits of being part of the fund. Furthermore, this paper examines the country-specific challenges of setting up and managing a student-managed investment fund (SMIF) in India. Design/methodology/approach Qualitative content analysis technique is used to identify, compare and retrieve critical themes about the present state of SMIF clubs in India. The data collection method involved structured, in-depth online interviews with ten student fund managers from various higher educational institutions in India. Findings Some of the study’s key findings indicate that the existence of SMIFs as part of learning facilitates group decision-making and peer learning. Additionally, this study brings to light specific issues related to registration, incorporating real-world practices and integrating SMIF into the academic curriculum. Social implications The outcomes of this study shall be of use to students and the teaching fraternity across Indian colleges and universities who aspire to set up SMIFs as part of experiential learning. This study will also help existing SMIF clubs in India understand how their counterparts work and can consequently improvise their organizational structure and functioning. Originality/value To the best of the authors’ knowledge, this is the first interview-based evaluation of the present structure of SMIFs structured as clubs in India.

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Section: Findings and Discussionsupporting

confidence: 79%

Section: Catching Up With Realities Of Real-world Fund Managementmentioning

confidence: 85%

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Student-managed investment funds (SMIFs) in India: the perspectives of student fund managers

Joseph

Jose²,

Iyer³

2022

JIEB

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“…D'Souza and Johnson (2019) note that the capital base of the SMIF at Loyola University Maryland was carved out of the university's endowment funds, and Horstmeyer (2019) describes a similar SMIF funding scenario at George Mason University. Yerkes (2017) suggests that the "source of funds is likely to determine the organizational structure of the fund" (p. 44), and a wealth of case studies detail the structure and organization of funds at various universities, for example, the University of Wisconsin-La Crosse's Spellman Portfolio (Krueger, 2011), Saint Louis University's Applied Portfolio Management (Betker and Doellman, 2019), and Bryant University's Archway Investment Fund (Ascioglu and Maloney, 2019). These, and similar case studies, describe the source of funding, Studentmanaged investment funds: a review investment policy (see Stream 2 of this review for more on SMIF investment policies), ties to the university and the roles of students and faculty.…”

Section: Findings 41 Stream 1: Best Practicesmentioning

confidence: 99%

Student-managed investment funds: a review and research agenda

Abukari

Oldford

Willcott

2021

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PurposeIn recent years, student-managed investment funds (SMIFs), experiential learning programs at an increasing number of universities, have attracted significant scholarly interest. In this article, we review the academic literature on this pedagogy.Design/methodology/approachWe use the systematic review method to assess a sample of 85 articles published in 30 journals during the period 1975 to 2020.FindingsOur literature review reveals four streams of research: best practices and challenges, investment management, innovation and trends and SMIFs in a research setting. We also propose future research directions, including specific gaps in the literature, a focus on innovations to traditional programs, systematic investment performance and expansion into behavioral finance issues.Originality/valueWe contribute a comprehensive view of the body of scholarship on SMIFs, identifying existing streams of research and future research directions that will help guide the development of SMIF research into a cohesive and productive space.

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“…Earlier studies, such as Hirt (1977), Bear and Boyd (1984), Markese (1984), Kester (1986) and Tatar (1987), provide discussions on the scope and characteristics of SMIPs at various universities. While Lawrence (1990) conducts the first survey to profile and discuss the characteristics of established SMIPs, more recently, Yerkes (2018) provides a comprehensive overview of the literature on student funds and discusses key benefits and challenges, as well as best practices for overcoming challenges such as behavioral differences in student decision making.…”

Section: The Educational Fixed Income Fund (Efif) and The Educational Investment Fund (Eif)mentioning

confidence: 99%

A tale of two SMIPs: equity and fixed income

Howe

Kotomin

Liao

et al. 2019

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Purpose The purpose of this paper is to document and compare the characteristics of two student-managed investment funds at the University. Design/methodology/approach This study uses a case study approach to achieve this purpose. Findings Consistent with other studies, this study finds considerable differences in funding, oversight and the structure of the courses in which the students manage the portfolios. This is the case even though the portfolios are managed by students in courses offered by the same department at the same university. Originality/value This study presents different possible ways of obtaining funds and structuring courses in which the students manage investment portfolios.

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The Art and Science of Student-Managed Investment Portfolios

Cited by 4 publications

References 12 publications

Student-managed investment funds (SMIFs) in India: the perspectives of student fund managers

Student-managed investment funds (SMIFs) in India: the perspectives of student fund managers

Student-managed investment funds: a review and research agenda

A tale of two SMIPs: equity and fixed income

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