The learning experience continues: two decades and counting for CSULB’s SMIF program
ISSN: 0307-4358
Article publication date: 26 April 2019
Issue publication date: 28 May 2020
Abstract
Purpose
The student-managed investment fund (SMIF) program at California State University, Long Beach (CSULB), was launched in 1995 with one portfolio worth $50,000. In the two decades since then, the program has grown to include three portfolios with a combined value of more than $700,000, managed on behalf of three different clients. The purpose of this paper is to describe the creation, evolution and growth of the program including the development of the new quantitative approach and its subsequent implementation. The paper also discusses the ongoing organizational, educational and investment-management challenges associated with the program.
Design/methodology/approach
The paper includes a description of the development and evolution of the program along with a discussion of the investment results for one of its three portfolios.
Findings
The paper finds: the new quantitative approach implemented in the program is effective as insurance against “black swan” events; and SMIF-type programs can provide learning experiences both for students and faculty members.
Practical implications
The paper explains the practical application of the new quantitative approach as well as the educational benefits of a SMIF-type program.
Originality/value
The paper provides insight into the structure of CSULB’s SMIF program and discusses a unique quantitative approach to asset allocation and security selection.
Keywords
Citation
Ammermann, P., Gupta, P. and Ma, Y. (2020), "The learning experience continues: two decades and counting for CSULB’s SMIF program", Managerial Finance, Vol. 46 No. 4, pp. 513-529. https://doi.org/10.1108/MF-10-2018-0481
Publisher
:Emerald Publishing Limited
Copyright © 2019, Emerald Publishing Limited