SMIPO Takes Top Honors at National Forum
Front row, left to right: John Howard, Elliott York, Chris Blake, Dan Sestito, Brandon Sabetta and Ross Marshall. Back row, left to right: Advisor Clarence Rose, Chris Winslow, Landon Holbrook, and Advisor Steven Beach.
Radford University’s Student Managed Investment Portfolio Organization (SMIPO) recently earned first place in the Value Fund category at the Redefining Investment Strategy Education (RISE) XI Forum in Dayton, Ohio.
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 percent rate of return, trouncing the S&P 500 benchmark return of 15.06 percent.
“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, SMIPO’s 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 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 outlined its strategy for making the transition in categories during a 15-minute presentation to a group of professional asset managers that reviewed the fund’s annual performance, its investing style, critical decisions and economic analyses. The group then received critical feedback and guidance on both portfolio management and individual presentation skills.