The Fund is Memorial University’s first student-managed investment portfolio. The project began in September 2018 with $150,000 in startup funding from alumni. Memorial students can use the Fund to gain the skills they need to pursue a career in capital markets. Here, students collaborate to make real-world investing decisions with real money under the guidance and advice of faculty and volunteer industry mentors. Besides, students can learn from industry experts in the Fund’s inclusive and friendly environment. The portfolio of the Fund now has a value of $270,000 and is comprised of 28 equities.
The Fund is housed in the White Trading Lab, which features state-of-the-art Bloomberg technology. The White Trading Lab is located in the faculty of Business Administration, and it is open to all students across Memorial University.
Julia, who is a final year of the Bachelor of Commerce program student and a sector manager of the Fund, shares the fantastic experience of being a part of The Fund team:
“My experience with The Fund has been incredible! This is my second year on The Fund and I joined because I wanted hands-on experience in the finance industry. I felt as if I understood the theoretical aspects of investments from my finance courses, but I wanted to expand that knowledge with real investing. The Fund allows me to be a part of a group of like-minded people, bringing together students from different years and faculties that all have a passion for finance. I’ve learned more in the last two years pertaining to investments, selecting and evaluating equities, and have had many in-depth conversations about valuations and value-based investing. The Fund offers seminars with industry professionals, which has helped me make professional connections and expand my knowledge on a number of topics including ESG, career opportunities in finance, and how to value specific industries. The Fund has helped me expand my knowledge, and allowed me to meet individuals that share an interest in investments!”
– Julia Druken
Recruitment
- Every academic term, the Fund hosts a recruitment event, with the main recruitment taking place at the start of the autumn semester.
- They’re searching for students who are curious, eager to learn and help one another, and who are willing to dedicate themselves to the group.
- It is preferred for students to be members of The Fund for the entire academic year and spend the majority of that time in St. John’s.
The Fund team members work together each year to perform equity research and make portfolio management decisions. They believe in and work to build an inclusive place for their team members to learn, where every voice is heard, and diverse perspectives are welcomed.
For any questions about our recruitment process, you can email thefund@mun.ca.
Applying for The Fund:
https://www.business.mun.ca/engagement/the-fund/apply.php
Structure
The Fund team is comprised of four key student roles:
Portfolio manager
Under the advice and support of the faculty advisor and the portfolio manager, they help guide sector managers and analysts in managing The Fund.
They are in charge of weekly position assessments, quantitative portfolio analysis, and investment decisions for the team.
Sector Manager
Analysts’ research reports are guided and supported by sector managers, who assist analysts in developing research, communication, and teamwork abilities. They collaborate with the portfolio manager to ensure high-quality research while also encouraging teamwork, collaboration, and constructive debate among team members.
Analysts
Analysts are in charge of selecting stocks, conducting research on stocks, and preparing research on investment opportunities. Our sector managers provide direct assistance to them.
General Member
A general member’s introduction role is for those who want to learn more about The Fund and what they do by attending stock pitches and seminars. They will not be needed to do an equity analysis, unlike analysts.
The Fund’s investment activities are supported by our faculty advisor, whose aim is to facilitate a quality experiential learning environment for our student team members.
Aryan, a fourth-year Business Commerce student, majoring in Finance, shares their experience of being an analyst at The Fund:
“I became a member of the Fund in the fall of 2021. My experience so far has been incredible; the hands-on experience I got while researching and analyzing different companies and markets was very valuable in developing a strong set of fundamentals. Pairing that with support from Mentors and other Fund members takes your learning curve to the next level. I have also gotten the opportunity to attend several webinars from our Mentors and Industry leaders and learn from their experiences and gain invaluable market insights. It’s a great organization for anyone interested in the field of Finance and I look forward to being a part of it going forward.”
– Aryan Falke
Governance
The Fund is governed by a board of directors to whom the students submit annual reports. The faculty adviser and industry mentors oversee daily activities and provide guidance and support to fund members throughout the program.
The investment charter of the Fund assures long-term management and procedures for the Fund’s operations. The students created an ESG investment framework to guide stock selection and analysis, ensuring that environmental, social, and governance aspects are considered in portfolio decisions. They also adhere to the United Nations’ Responsible Investment Principles.
Mentors are investing and finance professionals who assist student members in their learning and growth. The mentors gladly share their industry knowledge with the students, guiding their equity research and investing decisions. Mentors also engage in various one-on-one or small-group mentoring activities to assist students in their professional growth.
The students’ equity research at The Fund is based on a top-down, value-driven strategy that incorporates economic, industry, and business analyses. The analysts apply a range of valuation approaches, including discounted cash flow (DCF) and relative multiples (P/E, P/B, EV/EBITDA ratio), qualitative analyses of competitive positioning, corporate governance, and ESG concerns. Finally, all models are sensitivity tested against crucial assumptions, and the assessments include several scenarios. Overall, the Fund helps students obtain valuable communication and interpersonal skills while developing their investment analyzing abilities.
