Student Managed Investment Fund SMIF
The CSULB Student Managed Investment Fund (SMIF) was created in August of 1995 to provide its members with a unique and valuable experience in managing an investment portfolio consisting of actual monetary assets, rather than the "paper" transactions traditionally used in investment courses.
SMIF is an honors level class, open to students of Finance by invitation of the College of Business Administration, Department of Finance at CSULB. The program was instituted to engage its members to a degree of "real world" experience by providing hands-on training in securities analysis and portfolio management, and exposing its members to career-enhancing opportunities within the investments industry.
The student managed investment fund portfolio is managed by a combination of senior-level undergraduate students concentrating in investments and second year MBA students specializing in finance. Students enrolled in this “honors level” course have taken a number of required prerequisite courses, and are subject to approval by the SMIF advisors.
The primary responsibility for the SMIF students, of course, is the management of the SMIF portfolio, which is a $100,000 portfolio that is funded through the Department of Finance. This is overseen by the university’s Finance and Investment Committee, to whom the SMIF students must report on their activities near the end of the school year, and, like most endowment funds, the SMIF portfolio has an objective that could be described as “growth of income.”
SMIF Portfolio Managers seek the opportunity to apply their knowledge of finance to gain career-advancing experience in professional portfolio management using real dollars in real time to learn the lessons that cannot be learned from strictly academic endeavors.
- Application Only -SMIF is an honors-type program and is therefore open to students by invitation only.
- Boot Camp - Applicants who seek to become members of the SMIF team will be required to attend three “SMIF Boot Camp” sessions
- Develop a custom Syllabus - incoming class develops a unique syllabus specifically tailored towards the class's ideas and ambitions.
- Presentations - SMIF teams must develop high-quality, professional presentations on the upcoming investment topics.
- Resources experienced faculty members, well-informed industry professionals, the latest textbooks, published reports from numerous well known investment firms, and other valuable resources.
- Tools - One indispensable tool used frequently by the SMIF class are the two Bloomberg terminals
Another major real-world component of the SMIF experience for recent SMIF classes has been their participation in the Annual Portfolio Management Request-for-Proposal (RFP) Competition conducted by the CFA Society of Orange County Foundation (CFAOCF), which allows student teams from local universities to experience first-hand the process that fund managers must go through in order to be allowed to manage institutional funds. CSULB SMIF students have won first place in the competition for each of the past five years, ever since the competition was established, through which they earned the right to manage, for one year, a second $100,000 portfolio that is overseen by the CFAOCF’s Investment Policy Committee and is managed separately from the $100,000 SMIF portfolio. Assuming that the CBA maintains administrative arrangements for the SMIF program that are acceptable to the CFAOCF, it is possible that this year’s incoming SMIF students will also be able to participate in the opportunities provided by this RFP competition.