Category 5 Student Managed Investment Fund

Who We Are

The Category 5 Student Managed Investment Fund (SMIF) is both an investment portfolio and a sequence of classes at Miami Herbert. The Fund, part of the University of Miami Endowment, was established in 2012 through a generous gift from Mr. Mark Coe and has since received additional donations. Today, its over $2 million in assets are managed by University of Miami Undergraduate and Graduate students and overseen by Dr. Andrea Heuson and Dr. Jason Damm.

The Fund provides students with real-world investment management and decision-making experience in both asset allocation and security selection. Participants are active as analysts, who focus on stock selection decisions in one of six sectors; and portfolio managers, who focus on allocation of decisions and risk management.

The Fund meets every Wednesday night at 6:30pm during the semester. Students can apply at the start of each new semester.

What we do

The fund has two main objectives:

Investment Objective:

Seeking to maximize total return over time while maintaining a total risk level approximately equal to or less than that of a broad market domestic (U.S.) stock market index.

Educational Objective:

Providing a hands-on experience to graduate and undergraduate students in equity research and portfolio management. Please find our most recent Annual Report here.

Who can apply

Undergraduate Students with a GPA of 3.2 or higher, who have received a grade of A- or better in FIN302, and have taken, or are currently enrolled in FIN320.

Graduate Students with an undergraduate GPA of 3.2 or higher.

Application Process

In order to get access to the application or with any other questions, please reach out to Professors Andrea Heuson at aheuson@miami.edu and Jason Damm at j.damm@miami.edu

For more information and answers to questions, please click here.