SJU Finance Team's Portfolio Clinches Top Spot at National Competition
Friday, April 4, 2008
PHILADELPHIA (April 3, 2008) – Saint Joseph's University's Finance Team recently won the Top Portfolio Team Award for the Core Style of Management at the Undergraduate Level at the Eighth Annual Global Student Investment Forum 2008 in Dayton, Ohio.
The team, represented at the conference by seniors Laura Gowdy, Steven Wescott, Drew Ranieri, and David Curtis, and advised by Ahmet Tezel, Ph.D., associate professor of finance, was recognized for their success in managing a portfolio which yielded a return of 17.4 percent in 2007. The Standard & Poor's 500 Index (S&P 500) averaged a 5.5 percent return for the same year.
The event was part of R.I.S.E. (Redefining Investment Strategy Education), and was co-sponsored by the University of Dayton and United Nations Global Impact. Universities with student-managed portfolios were invited to display their successful styles of management, and only the top teams in each category were showcased.
SMI, a finance course offered every fall through the Erivan K. Haub School of Business, gives students the opportunity to manage 25 to 35 different stocks using real money. The class is designed to educate students on how to make tough financial decisions and gain confidence in investing. Created in 2004, this is the third time SMI has outperformed the S&P 500.
According to Tezel, credit for the team's achievement is attributed to both the 2006 and 2007 classes. "Where the investment style was growth in 2006, the new class in 2007 decided to implement large cap with a value tilt. The portfolio is very well-blended and diversified with 30 different stocks," he said. "We can be proud of our students as their focus, hard work and a little bit of luck led to their winning the undergraduate [core style] competition."