Carleton’s Sprott School of Business announces $1M investment to student-run fund
The Sprott School of Business at Carleton University is investing $1 million in its student-managed equity portfolio, The Fund @Sprott. The investment, which will be divided in two $500,000 payments over two years, will provide a superior, hands-on learning experience for undergraduate business students eyeing careers in investment management.
“This investment allows more students to get involved in the Fund and gain invaluable experience that will them an edge when it comes to competing for jobs,” says Jerry Tomberlin, dean of the Sprott School of Business. “Although there are many U.S. schools that have student-managed funds, there are only a few in Canada. We’re proud to provide this opportunity to our students.”
The Fund is run by a select group of undergraduate finance students in the Sprott School of Business and overseen by a faculty advisor. Students manage real money and gain real-world investment management experience.
“I was ecstatic to learn of this investment,” says Ben Cimon, portfolio manager and fourth-year Bachelor of Commerce student, specializing in finance and accounting. “This is a game-changing amount of capital for us that will open many doors in terms of enhanced student learning opportunities, overall student involvement and involvement of finance professionals.”
“I’m a strong supporter of experiential learning,” says Professor Howard Nemiroff, faculty advisor for the Fund. “Finance students interested in investment management are faced with a very competitive landscape once they leave university. Having experience in managing money and using the sophisticated industry tools at this stage in their careers is a huge asset moving forward.”
Over the last three years, 25 students have left their mark on the fund. Graduates of the Fund have gone on to careers in financial services and investment banking with such organizations as Barra MSCI, Morgan Stanley, Barclays, TD Waterhouse, RBC Capital Markets, Bank of Canada, Export Development Canada and Direct Energy.
“There’s no comparison between classroom experience and the experience I’ve gained through the Fund because there’s very little real-life impact of the decisions you make in course projects, other than your grade,” says Cimon. “Above all else, this experience provides students with the confidence to walk into a job interview and say ‘yes, I’ve done that before and I know how it works.’ It’s certainly helped me – I started with an asset management company this month.”
About The Fund @Sprott
The Fund is a student-managed equity portfolio that was established in September 2007 with $50,000 of endowment capital. The students involved in the Fund have managed to grow the capital base by 16.4 per cent, despite one of the worst economic recessions in history. Administration of the Fund follows a top-down approach to stock selection, whereby analysts sell their picks to sector managers, who in turn sell their picks to the other managers through roundtable discussion. Decisions are guided by a charter that outlines risk parameters, portfolio composition and exit strategies.
Website: sprott.carleton.ca/thefund
About the Sprott School of Business
Located in Ottawa, Carleton University’s Sprott School of Business explores complex business issues through its innovative programs, interdisciplinary research and collaborative partnerships, which are aligned along three core strengths: international focus, innovation, and responsible management. The school delivers academic programs at the undergraduate through to doctoral levels, as well as a range of professional development certificates and courses. Website: sprott.carleton.ca
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For more information or to arrange an interview, please contact:
Kim Swartz
Media and External Relations Officer, Sprott School of Business
613-520-2600 ext. 1573
kimberley_swartz@carleton.ca