Campus: Long Beach -- March 27, 2006

SMIF Group at CSULB Receives Rights to Manage $100,000 Portfolio from CFA Society of Orange County

California State University Long Beach’s Student-Managed Investment Fund (SMIF) recently received the rights to manage a real-dollar portfolio of $100,000 provided by the Certified Financial Analysts Society of Orange County (CFAOC).

CSULB earned the right to manage the portfolio for the 2006 calendar year as the winner of the CFAOC Foundation’s Annual Request for Proposal (RFP) contest. It’s the first time the foundation has made an award of this kind.

“The student team demonstrated a high level of understanding, knowledge, and commitment to the investment field based upon an extensive review of their written proposal to our Foundation’s RFP and the oral presentation of their proposal to our investment policy committee,” said Krista S. Zipfel, chair of the CFA Society of Orange County Foundation.

“The team presented its investment philosophy, economic and market outlook, portfolio management strategy and security selection process,” she added. “This award reflects favorably on the quality of the program and students at California State University, Long Beach.”

The 16-person SMIF team was led by five actual presenters who gave a 45-minute presentation to the foundation board with a question-and-answer session afterwards.

“I think we did a good job,” said Eric Kingsbury, a 26-year-old finance major from Aliso Viejo, who was one of the CSULB presenters. “We were very well prepared and did the best we could. It was a little nerve-racking and a lot of stress, but I wanted to do it for the personal growth.”

“I thought our presentation was strong and we were confident,” said Van Ha, a 21-year-old finance major from Midway City. “We felt that our philosophy was a better fit for what the foundation was looking for.”

Offered through CSULB’s College of Business Administration (CBA), SMIF began in 1995 and is a year-long, honors-type program which gives 16 selected finance students the opportunity to participate in the management of a real-money portfolio, exposing them to real-life management experience.

Typically, the students research and plan during the fall semester, then make investments in the spring. Until recently, SMIF has annually been given a $50,000 portfolio from the CBA to invest. In a separate move, the college increased the portfolio to $100,000 to go along with a similar portfolio provided by the CFA Society of Orange County.

“In essence, the students in our SMIF program are now managing two $100,000 portfolios,” said CSULB Finance Professor Dick Runyon, who along with associate professor Peter Ammermann and lecturer Daniel Ham, oversees the SMIF program. “This is a real opportunity to work with real money.”

The primary goal of the CFA Society of Orange County Foundation and its benefactors, many of whom hold the Chartered Financial Analysts (CFA) designation, is to provide outstanding students in the field of economics and finance who demonstrate an active interest and desire to pursue professional investment careers with an opportunity to manage a real dollar portfolio and learn from active investment professionals.

Media Contacts: Rick Gloady, 562/985-5454,
Shayne Schroeder, 562/985-1727,

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