Experience Real Economics
Student Managed Investment Funds (SMIF) are popular experiential learning programs based on student management of real dollar portfolios. Student-managed funds promote student leadership, advance education and real-world training.
The SMIF program is considered prestigious, as it provides a unique experience of working and managing the real investment fund within the university environment and is proven to give a large competitive advantage for its alumni over a regular finance or economics job-seeking student.
Therefore, it is a very demanding program, with a limited number of positions, big time commitment and a high level of competence required on all levels of the structure.
Our Mission
We aim to expand learning opportunities by allowing students to take a leadership role in all management aspects of the fund, not just money management.
- Students are responsible for promoting SMIF activities and planning for the long run future of the program.
- Student managers provide a periodic review of all policies, strategies, performance, logistics, and new initiatives for the funds and bring new ideas to the fund’s Advisory Board in their end-of-year report.
- Students also work in smaller groups to orchestrate specific investment dynamics.
Earn Essential Skills
The organization offers hands-on experience managing investment portfolios, helping you develop key skills in economics, finance, and leadership. Through teamwork and collaboration, you’ll gain valuable real-world insights, while building a professional network that provides a competitive edge in the job market.
Real-World Experience
Manage actual investment portfolios and gain hands-on experience that sets you apart.
Diverse Skill Development
Enhance your expertise in economics, finance, and accounting through practical application.
Leadership Opportunities
Take on leadership roles and sharpen your decision-making and management skills.
Competitive Edge
Stand out in the job market with unique, real-world investment experience.
Collaborative Learning
Work in teams, fostering collaboration and interpersonal skills.
Global Networking
Connect with industry professionals and faculty advisors, expanding your professional network.
Organizational Structure
The organizational structure fosters effective investment decision-making through collaborative input from diverse student groups, while providing economics students with valuable hands-on experience in research and portfolio management.
Overview
The teams, composed of undergraduates and a senior leader, are coordinated by the Investment Committee, which meets weekly and makes investment decisions by majority vote. The committee includes undergraduates, MBA students, and faculty advisors. A faculty advisor executes trades and holds a veto if the committee violates investment policy; otherwise, the faculty advisor has one vote.
The organization has two main working groups for economics students: the Global-Macro Analysis Group (GMAG) and the Sector Analysis Group (SAG). These groups focus on international and domestic macroeconomics, industrial organization, money and banking, econometrics, and data analysis, helping develop research for the investment portfolio.
Top-Down Approach
The top-down investment approach starts with analyzing global economic factors and trends to guide strategic asset allocation, then narrows down to identify promising sectors and securities based on these conditions. This comprehensive, data-driven strategy helps investors make informed decisions by aligning their portfolio with long-term trends, ultimately optimizing returns through targeted sector and security selection.
The Steps
The top-down approach starts with a broad analysis of global conditions and macroeconomic factors, including interest rates, inflation, consumer spending, currency movements, and GDP growth. This informs asset allocation decisions.
Next, sectors and industries are analyzed to identify those likely to perform best in the current economic environment, with sector weights adjusted accordingly based on expected performance.
Finally, within each sector, security analysis identifies the best-performing stocks. The integration of economics, finance, and accounting is crucial for successful top-down investing.
