Student Managed Investment Fund
The University of Dallas Satish & Yasmin Gupta College of Business received a $100,000
gift from an anonymous donor to create a Student Managed Investment Fund (SMIF) program
in the beginning of Fall 2013. The fund was managed by graduate and undergraduate
economics and finance students, who were responsible for all investment research and
The mission of the SMIF at the University of Dallas is to enhance students' academic
pursuits in the study of finance by offering exposure and participation in investment
research/analysis and portfolio management/strategies. The SMIF began with five to
six student members and an Advisory Board was organized for the purpose of providing
counsel and guidance for students.
SMIF follows a conservative management strategy, investing mainly in S&P 500 companies.
Specifically, SMIF results are evaluated against the S&P 500 Index.
- SMIF performance beats the market benchmark each quarter. In 2017, the SMIF total
return was 22.5%, 4% more than the market average.
Comparisons are made on a risk-adjusted basis through utilization of appropriate risk-adjusted
performance ratios such as the Sharpe Ratio, the Treynor Index, the Jensen Performance
Index, and Information Ratio. Members of the SMIF take a weekly review of the existing
portfolio, and a monthly risk-adjusted performance analysis of the portfolio is conducted
for a review/discussion of the SMIF portfolio and evaluating any revisions.
A portion of the returns generated by the Fund is dedicated to a scholarship program
for prospective and current students with a demonstrated interest in finance. Ultimately,
SMIF provides student managers with a competitive edge over peers in realizing their
career objectives and prepares students for the Chartered Financial Analyst (CFA)
Level 1 Exam.
One of the SMIF students received $830 scholarship for the Chartered Financial Analyst
(CFA) exams. The scholarship covers their CFA program enrollment fee and CFA exam
registration fee. Scholarships are awarded by the Satish & Yasmin Gupta College of