Madison Investment Fund Receives Recognition
James Madison University's Madison Investment Fund (MIF), a student-led investment fund that serves as a money manager to the JMU Foundation placed second in the Value-style investment category at the RISE XIV Forum in Dayton, Ohio and placed as a finalist in the top four at the Georgetown Stock Pitch Conference (GSPC) sponsored by Georgetown University in Washington, D.C.
At the RISE conference, MIF had another stellar year, placing second in the value-styled investments category. This year represents the third year in a row that the MIF has placed in the two positions and the fifth year in a row that the MIF has placed in the top five.
The MIF’s faculty advisor, Associate Professor of Finance Elias Semaan, remarked “We are absolutely thrilled that for the third year in a row, MIF has managed to capture one of the top 2 spots at this prestigious conference that hosts 400 universities from across the globe. In the world of investments, having a top performance for a single year can easily be attributed to luck, but maintaining a consistent top performance is the true testimony to the investment philosophy of the fund and the discipline of its members.”
Three MIF portfolio managers, JP Kril, Karl Grabbi, and Christine Webb, presented the MIF’s investment philosophy, fund structure, and 2012 performance to a panel of investment professionals at RISE.
At the same time that a MIF team was presenting at RISE in Ohio, another MIF team was presenting at the Georgetown Stock Pitch Conference (GSPC) in Washington, D.C.
At the GSPC, MIF placed as a finalist in the top four, finishing right after University of California, Berkley and Georgetown University. The MIF team at the GSPC was comprised of portfolio managers Scott Salopek, Brendan English, and Josh Lancaster. The team pitched a long position in the technology company Qualcomm (QCOM). The investment thesis was based on fundamental and industry analysis, as well as a discounted cash flow model that incorporated probability distributions and Monte Carlo simulations.
Twelve business schools from across the country competed at this conference, including the University of Virginia – McDonough, the University of Pennsylvania- Wharton, New York University – Stern, the College of William and Mary –Mason, Rutgers University, and George Mason University.
MIF President-elect for the 2013-2014 school year, Scott Salopek was very proud of the MIF for its showing at the conferences, noting “this is the first year that we have attended and competed at the GSPC, and for us to place in the top four, while placing 2nd at RISE during the same weekend is a testament to the passion of our members. Many of the students from other funds we met at the conferences receive class credit for participating in their funds. In the MIF, all of our students join on a volunteer basis because they are passionate about investing and want to advance their education. I strongly believe our passion is what sets us apart.”