The purpose of this paper is to document and compare the characteristics of two student-managed investment funds at the University.
This study uses a case study approach to achieve this purpose.
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.
This study presents different possible ways of obtaining funds and structuring courses in which the students manage investment portfolios.
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.
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