Program
The Ted Rogers School of Management's Student-Managed Investment Fund (SMIF) was launched in Fall 2020 as an important part of the experiential learning initiative. The fund had $500,000 in seed capital from the University Endowment. Its mission is to complement student in-class knowledge with real-life learning in equity research, analysis, selection, and management through hands-on experience with a real-money portfolio. Students selected and enrolled in FIN65A/B and FIN75A/B will collectively manage the SMIF.
Since the inaugural term of Fall 2020, many faculty members of the Finance Department, including Dr. Yuanshun Li, Dr. Allen Goss, and Dr. Alan Kaplan, together with the School of Accounting and Finance (SAF) Advisory Board and TMU’s Treasury & Investing Services have contributed toward guiding the students managing the portfolio and ensuring the fund complied with the Statement of Investment Policies and Procedures. Currently, Stuart Morrow, a member of the SAF Advisory Board and an investment veteran, is the course instructor and Chief Advisor of SMIF, who advises and guides the students in this experiential learning journey. Dr. Yi Feng, Associate Professor of SAF, is the Course Coordinator who coordinates student recruitment and manages fund monitoring and compliance.
Program structure
FIN65A/B and FIN75A/B are open electives for students in the School of Business Management, Accounting and Finance, and other programs, subject to the Finance Department's consent. The two courses run simultaneously in the same room. The courses are offered in the evening to make it easier for those students on co-op.
Students in FIN65A/B will take on the role of an Analyst. They will assist Portfolio Managers (students in FIN75A/B) in producing Initial Sector Coverage Reports, updating portfolio holdings and providing research reports throughout the term. Students in FIN75A/B will take on the role of a Portfolio Manager. They will mentor Analysts (students in FIN65A/B) in producing the Initial Sector Coverage Report, recommending and defending investment decisions, creating a comprehensive Term Report and making the final Sector Term Presentation. Students in FIN75A/B will also assist the Chief Advisor in meeting all monitoring, compliance and reporting requirements, attending and representing SMIF at Advisory Board meetings.