About SMIF

 

The Chicago Booth Student Managed Investment Fund ("SMIF") was established in 2006 for the purpose of creating a real-world portfolio management environment which allows students to improve their equity research and stock-picking abilities. 

The initial commitment to the fund was $1 million provided from a portion of the Chicago Booth endowment.  The fund is managed by seven second-year Chicago Booth students, all of whom are members of the school’s Investment Management Group.  Each year, the existing Portfolio Managers ("PMs") select their replacements after evaluating applicants' investment management knowledge and ability to analyze stocks.  Two Chicago Booth faculty advisors provide regular oversight of the SMIF’s operating activities, including approval of stock selections and trades.  A faculty advisor also ratifies the selection of the new PMs each year.  A three-person Alumni Advisory Board meets at least once each year for the purpose of offering recommendations and feedback on stock selections, asset allocation and performance evaluation and benchmarking.

Objectives of the Fund
The Student Managed Investment Fund provides a unique opportunity for Chicago Booth students focused on entering the investment management field to apply equity research and portfolio management skills in a real-world environment.  The SMIF's objectives are balanced around three areas:

  • Performance – Most importantly, the PMs strive to achieve superior performance in the portfolio through rigorous research and analysis of new ideas, close tracking of existing positions and continuous management of industry exposure.  The SMIF is benchmarked against the Wilshire 5000 Composite.
  • Experiential Education –The PMs learn through managing the portfolio and other students in the Investment Management Group learn by pitching stocks to the PMs and receiving detailed feedback.  In addition, throughout the year the PMs host various stock pitch events and also coordinate and lead training sessions on such topics as building a financial model, constructing a compelling stock pitch and analyzing an industry.
  • Scholarship Funding – Every year, one or more scholarships are provided to Chicago Booth students from the proceeds of the SMIF.
 
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© 2016 Chicago Booth Student Managed Investment Fund
Chicago Booth SMIF - Student Managed Investment Fund