Student Managed Investment Fund

Research Advisor: Barbara Davis

The purpose of the Centenary College Student Managed Investment Fund is to facilitate the academic objective of teaching the theory and practice of managing long-term investment portfolios with annual spending objectives through a real-world environment within the Frost School of Business. During the course of their working careers, many Centenary business school graduates will accept the obligation to serve in a fiduciary capacity with responsibility for the administration of endowment or pension funds. Accordingly, this fund is used to expose Centenary finance students to investment policy development, asset allocation strategy analysis, investment manager selection and evaluation, and investment performance measurement.

The SMIF began operations on April 23, 2004 with an initial contribution by a Centenary College donor of $100,000. The SMIF operates under guidelines of a written Investment Policy Statement with a “Spending Rule” of 5.5%. The SMIF is viewed as a separate investment manager within the Centenary College of Louisiana Endowment and Investment Fund. The blended benchmark for the SMIF is: 55% S&P500 / 15% MSCI-EAFE / 30% Bloomberg Barclays Aggregate Bond Index.

Since inception, there have been $151,581 tax deductible, contributions into the SMIF and $99,419 investment policy directed distributions to Centenary College. As of December 31, 2021, the ending market value was $262,411 and the dollar gain since inception has been $210,249. Since the beginning of operations, the annual compound rate of return has been 7.69% and SMIF blended benchmark return has been 8.03%.

Student presenters will focus on the 2021 returns for the large cap, mid to small cap, international equity, alternative asset categories, and fixed income investment components of the portfolio. Comparisons of the actual returns to the designated benchmarks will be made and explained.

  1. Large Capitalization Equity Funds
    Presenters: Gary Hewitt and Allie Moore
  2. Mid to Small Capitalization Equity Funds
    Presenters: Richard Polan and Hayden Weber
  3. International Equity Funds and Fixed Income Funds
    Presenters: Jules Reny and Mallory Stout
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