LHBS Students Earn First Place in 2024 Student Managed Investment Fund Competition

Monmouth University earned first place at the 2024 Student Managed Investment Fund Conference and Competition held in Chicago, IL, on Oct. 2 and 3. Monmouth's fund, managed by students in the Leon Hess Business School, achieved a 45.2% return last year and is currently valued at over $600,000 in assets. This was Monmouth's first year competing at the event, which drew over 300 attendees and featured 23 university teams.

Seniors Dom Acerra, studying finance, and Nick Brewer, studying finance and economics, represented Monmouth at the conference alongside John Burke, specialist professor of finance and economics.

"We had a fantastic time exchanging ideas and stories with students and faculty from universities operating student-managed investment funds across the country," said Burke. "I'm especially proud of our team and all of the students that manage our fund for bringing home the first-place trophy in our first year of competition!"

The two-day conference featured panel discussions led by industry leaders, breakout topic sessions, and keynote speakers.

"I learned a lot more about the different opportunities and paths I could take with my major after graduation," Brewer said about his experience at the conference. "Finance is a very broad industry, and hearing [speakers'] stories and career choices gave me a chance to think about the road ahead."

Acerra added that attending the conference was highly rewarding: "Every student there had the opportunity to listen to speakers who shared valuable knowledge about the finance industry and what it takes to succeed in the workplace," he said. Winning, however, was "the highlight of the event."

Monmouth's fund is managed by students in the BF-452 Hawk Capital, Portfolio Management course taught by Burke. Since opening with an initial seed amount of $10,000 in 2010 and receiving investments from the University endowment as well as Peter Cancro, the founder of Jersey Mike's, the fund's current balance of over $600,000 is a result of capital appreciation. To achieve this, students in Burke's class are responsible for tracking the performance and developments of their assigned sectors of the fund. For stock selection, Acerra explains, each student creates valuation models and comprehensive reports covering their company's background, industry outlook, financial performance, and other relevant factors. Reports are then presented to the class and buy/sell decisions are put to a vote. "This collaborative approach taught me the importance of thorough research, collaboration, and effective communication in investment decisions," he added.

Raj Devasagayam, dean of the Leon Hess Business School, commended the students' success in managing their fund and earning first place at the nationwide competition. "This outstanding student accomplishment speaks volumes about the excellence of the Leon Hess Business School faculty and their steadfast commitment to impactful experiential learning. The ability to not only compete but excel among esteemed peers nationwide is a testament to the strength of LHBS academic programs and the talent of our students."

As seniors, Acerra and Brewer both value their time spent in the Leon Hess Business School and the faculty that prepared them for future careers in the industry.

"I don't think I could've received a better education anywhere else," said Brewer. "Thanks to professors like Bochen Li and John Burke, I really value what I've learned so far and I feel fully able to apply it outside the classroom."

Acerra concluded, "The LHBS has played a significant role in preparing me for a career in finance. I have had many great teachers in my time here and am very grateful for all that I have learned from them."