In the weeks ahead, the Harbert College of Business will be entering a new era of student involvement with its official launch of the Auburn Student Investment Fund (ASIF). For those who were involved in or heard about the Auburn University Investment Club (AUIC) from past years, there is a reason to be excited for the start of this new organization. This is largely due to the fact that ASIF will be the first internally funded student investment group on campus. ASIF has cleared all internal hurdles and will be slated to manage an initial investment fund of $500,000 with the principal eventually growing to $1,000,000 once the funds have been earmarked from the University’s Endowment office.
This is a large leap ahead from years previous in the AUIC where Auburn’s only means of student investment interaction had been through participation in annual competitions held by the Birmingham-based investment bank Sterne Agee. These competitions were smaller in scale in which multiple southeastern schools were challenged to generate the highest returns possible from a budget of $50,000. It was not until this past year with the buyout of Sterne Agee by Stifel that these competitions ceased to exist. As a result, the Harbert College of Business and leaders within the AUIC saw it necessary to take matters into their own hands with the creation of ASIF. Previous AUIC leadership has worked hard with administration from the Harbert College of Business and Auburn University’s Endowment Office to establish ASIF.
With this new source of funding, students will experience firsthand what it is like to manage a permanent investment fund and will, therefore, be able to fully leverage the lessons learned in class in terms of market analysis and risk allocation. Officially, ASIF will be structured under the Harbert College of Business and Auburn University’s Endowment Office. All capital gains from the portfolio’s performance will be distributed back to the Harbert College of Business.
The Auburn Student Investment Fund will have positions available for Sector Directors, Analysts, and a Fund Administrator that will be open to all majors. Applications and interviews for these positions will be held at the start of the Fall Semester.
Look for flyers containing more information regarding the application process.
Questions can be sent to Ben Purinton at firstname.lastname@example.org