A tale of two SMIPs: equity and fixed income

Thomas S. Howe (Department of Finance, Insurance and Law, Illinois State University, Normal, Illinois, USA)
Vladimir Kotomin (Department of Finance, Insurance and Law, Illinois State University, Normal, Illinois, USA)
Min-Yu (Stella) Liao (Department of Finance, Insurance and Law, Illinois State University, Normal, Illinois, USA)
Abhishek Varma (Department of Finance, Insurance and Law, Illinois State University, Normal, Illinois, USA)

Managerial Finance

ISSN: 0307-4358

Publication date: 8 March 2019

Abstract

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.

Keywords

Acknowledgements

The authors thank Gary Koppenhaver for establishing the EFIF, and Edgar Norton for drafting its investment policy. The authors also thank the Illinois State University Foundation and other major donors who have funded the SMIPs. The authors acknowledge the current and previous members of the EFIF and EIF advisory boards for their support.

Citation

Howe, T., Kotomin, V., Liao, M. and Varma, A. (2019), "A tale of two SMIPs: equity and fixed income", Managerial Finance, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/MF-08-2018-0399

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Publisher

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Emerald Publishing Limited

Copyright © 2019, Emerald Publishing Limited

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