Student-Managed Investment Fund (SMIF)
Dr. Ken Martin, Program Director
Overview
Student-managed investments are funded through:
- The State Investment Council (SIC) Equity Fund.
- Open and/or download the SMIF: SIC Equity Fund Excel spreadsheet to see the latest results. After you open the file, click the “Enable automatic refresh” button.
- The Cheryl Glass Wetherbe and James C. Wetherbe Dean’s Excellence Fund for Student Investment.
- Open and/or download the SMIF: Wetherbe Fund Excel spreadsheet to see the latest results. After you open the file, click the “Enable automatic refresh” button.
The SIC Equity Fund
This fund was established in the Spring 2007 through the efforts of Gary Bland (State Investment Officer, SIC of New Mexico) and Garrey Carruthers (Dean, College of Business).
Through this fund, students act as sub-advisors to invest $5 million of the over $13 billion managed by the SIC. Led by Dr. Kenneth J. Martin, the students engage in a semester-long process of evaluating industries and companies to form recommendations for investing in individual stocks for the portfolio. During the Spring 2007 semester, the first investments were made on $2.5 million of the total $5 million. In the Fall 2007 semester, the remaining $2.5 million were committed.
Students focus their investment strategies on companies in the S&P 500 index, engage in fundamental analysis, and focus their efforts on fundamental valuation strategies.
James Wethebe, Class of 1971
The Wetherbe Fund
In 2006, James C. Wetherbe established the Cheryl Glass Wetherbe and James C. Wetherbe Dean’s Excellence Fund for Student Investment with the NMSU Foundation.
The fund was established with the $75,000 net proceeds from selling a 1957 Chevrolet automobile (a turquoise rag-top no less!) and from the proceeds of a Rolex watch, both of which were received as gifts from Mr. Wetherbe.
This fund is administered as a student-managed investment fund through prudent investment management techniques. The Finance faculty at NMSU decided to manage this fund using an asset allocation strategy by investing in selected Exchange-Traded Funds under the direction of Dr. Kenneth J. Martin. The first investments into the fund were made in January 2007.