The “Flyer Investments Fund” is the third largest student-run investment portfolio in the nation and the largest handled exclusively by undergraduates, UD said. Students decide which stocks to buy, sell or hold, and consistently beat the Standard & Poor’s 500 benchmark fund, the university said.
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“We are thankful to the foundation donors who are making this experience possible for our students. We believe our students are among the first in the country to have an opportunity to manage money from a community foundation,” School of Business Administration Dean John Mittelstaedt said in UD’s release.
Students will report quarterly on the performance of the foundation’s portfolio. They will also charge the foundation a management fee. UD’s announcement did not say what that fee will be.
“We are thrilled to make possible this real-world investment management opportunity to the students of the University of Dayton’s Davis Center for Portfolio Management and so grateful for the foundation’s donors who have generously designated a portion of their charitable funds to this asset pool,” Michael Parks, foundation president, said in UD’s statement.
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Davis Center alumni, who now number more than 600, have gone on to work at top investment firms, including BlackRock, Citi, Citadel, Cleveland Research, Goldman Sachs and JP Morgan, the university said.
“It is going to be an amazing experience to manage the foundation portfolio,” said Jake Blewitt, senior manager of the Davis Center, a UD senior majoring in finance.
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