Kent State University students will soon manage $500,000 of the school’s assets under a new effort designed to give them real-world experience.
As many as 30 finance students will make up the Student Managed Investment Fund team that will work with the Kent State University Foundation.
“We think this [program] will drive enrollment in the finance program” even as the number of high school seniors decreases, said Steven Dennis, Firestone chair of corporate finance and chair of the finance department at Kent State.
Dennis will advise the students.
Currently, there are about 450 students majoring in finance at the university, Dennis said.
The goal is to use the Student Managed Investment Fund, along with other programs in the finance department, to help recruit students.
“We’re trying to hold our own or grow enrollment,” Dennis said.
The initial $500,000 the students will invest is a small portion of the Kent State University Foundation’s assets.
At the end of fiscal 2016, the foundation’s endowed assets totaled $110.7 million, while the foundation’s total assets amounted to $184.4 million.
The Kent State University Foundation receives donations that are invested. The investments generate money — investment income — that is used for scholarships and a variety of other purposes.
Students will apply for positions on the Student Managed Investment Fund team, Dennis said. Applicants will be vetted by faculty advisers and an Investment Advisory Board, Dennis said.
The positions will include senior officers to oversee operations of portfolios, lead analysts for each of the 10 sectors of the stock market and additional students to oversee the performance of the economy.
The program will be an extracurricular activity, except for senior officers, who will earn course credits.
The Student Managed Investment Fund team will document performance of the funds at weekly meetings and provide quarterly performance reports to Kent State University and the foundation. In addition, an annual written performance report and oral presentation will be given in mid-February to mid-March of each year. Students also will compete in the Global Asset Management Education Conference in New York City.
Katie Byard can be reached at 330-996-3781 or kbyard@thebeaconjournal.com.
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