Radford University’s Student Managed Investment Portfolio Organization recently won the Value Fund Category at a national investment education forum. Here is a press release from RU:
RU’s Student Managed Investment Portfolio Organization (SMIPO) earned first place in the Value Fund category at the Redefining Investment Strategy Education (RISE) XI Forum in Dayton, Ohio recently. SMIPO’s top placement results from its portfolio performance in 2010, with the fund producing the highest risk-adjusted returns in the Value Fund category. For the year, SMIPO delivered a 19.74% rate of return, trouncing the S&P500 benchmark return of 15.06%.
“Not only did we come together to have a winning presentation for one day, but we continually produced strong returns throughout the entire year, “ said Ashley Hall, outgoing president. “The commitment and teamwork in SMIPO has been phenomenal this year and we have learned that it takes each person in the organization performing their best work to be successful.”
In addition, SMIPO was among a select group of student portfolio managers – two from each fund category – who earned the opportunity to present its portfolio and strategy to a panel of industry leaders from the CFA Institute and asset management firms. RU SMIPO has earned the presentation privilege in six of the seven years in which it has participated at the prestigious financial forum.
“Competing at this event is beneficial as it is an opportunity to show how competitive RU is at the national level,” said Dr. Steven Beach, SMIPO advisor and associate professor of accounting and finance. “And a chance for the members to employ the professionalism expected of these COBE students.”
The members of the SMIPO team who made the presentation were: President-elect Chris Blake Landon Holbrook, John Howard, Dan Sestito, Elliott York, and Blaine Winslow.
SMIPO shifted its investment strategy and transitioned its portfolio to what is known as the “SMIPO Small to Mid-Cap Value Fund” on January 1, 2011. SMIPO’s previous investment strategy was characterized as “a large-cap blend fund”. The fund closed out its year on Dec. 31, 2010 valued at almost $490,000, up almost $80,000 from its January 1, 2010 valuation.
The organization’s results and its procedure for making the transition in categories were central to the group’s 15-minute presentation to a group of professional asset managers during which they reviewed the fund’s annual performance, its investing style, critical decisions and economic analyses and then received critical feedback and guidance on both portfolio management and individual presentation skills.