The Student Managed Investment Program: A Guide for Small, Not-for-profit, Private Schools

Wang, Daphne, Houmes, Robert, and Boylan, Robert, The Student Managed Investment Program: A Guide for Small, Not-for-Profit, Private Schools. Journal of Finance Education (2020) (Forthcoming).

Posted: 19 Oct 2020

See all articles by Daphne Wang

Daphne Wang

Jacksonville University

Robert Houmes

Jacksonville University

Date Written: March 1, 2020

Abstract

The student managed investment programs accord students the unique opportunity to gain “real world” investment experience, and their growth in numbers and size provides evidence of their educational efficacy. This study provides a qualitative analysis of the operations and performance of a small, not-for-profit, private university’s (the University) student managed investment fund. Our analysis begins with a discussion of applied “best practices” from both start-up and ongoing improvement perspectives. Evaluative emphasis is given to relevant topics that include undergraduate – graduate course curriculum, student–board engagement, funding needs, and sources as well as the importance of implementing and maintaining effective internal controls. In addition, recent events have highlighted the increasing financial challenges faced by smaller not-for-profit, tuition-driven schools. In juxtaposition with these practices, we further examine important issues related to the successful and sustainable funding of the program’s operations.

Keywords: student managed investment program, student engagement, internal controls, student investment program funding, CFA research challenge

JEL Classification: A20, G11

Suggested Citation

Wang, Daphne and Houmes, Robert, The Student Managed Investment Program: A Guide for Small, Not-for-profit, Private Schools (March 1, 2020). Wang, Daphne, Houmes, Robert, and Boylan, Robert, The Student Managed Investment Program: A Guide for Small, Not-for-Profit, Private Schools. Journal of Finance Education (2020) (Forthcoming)., Available at SSRN: https://ssrn.com/abstract=3682636

Daphne Wang (Contact Author)

Jacksonville University ( email )

2800 University Blvd. N
Jacksonville, FL 32211
United States

HOME PAGE: http://https://www.ju.edu/directory/shu-nu-daphne-wang.php

Robert Houmes

Jacksonville University ( email )

Jacksonville, FL 32211
United States

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