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Student Managed Investment Fund (SMIF)

The Student Managed Investment Fund (SMIF) provides valuable, real-time experiential learning in securities analysis and portfolio management. Managers gain real world experience in topics and theories that are discussed in the classroom. SMIF is the capstone to investment studies in a sequence of courses developed by the finance department.

History

SMIF was created in 1993 to provide a "hands-on" experience in research, investing, portfolio management, and the dynamics of the equity markets. The Board of Trustees started the program with a transfer of funds from the University's endowment.

Managers are chosen through a rigorous selection process that encompasses an application, formal interview, and written research report. The existing managers make all decisions with oversight from SMIF faculty advisors. Once selected, managers take courses in an "investment track" consisting of Financial Management, Fixed Income & Derivatives, Investments and Security Analysis, and Portfolio Management.

The managers also receive one unit of academic credit for their participation in the Fund. Meetings are held at least once a week throughout the entire year to evaluate the status of the portfolios and execute any other administrative duties that are pertinent to its success.

SMIF is completely equity based and is split into a Growth Fund and a Value Fund. The two funds are each comprised of approximately eight managers. A General Manager actively participates in both funds and ensures the professional management of SMIF as a whole."

Managers act as security analysts and portfolio managers. Through many different research sources, information is gathered in an attempt to lead to a buy or sell decision. Practical investment knowledge, exercised through field trips, internships, and a close working relationship with market professionals, has enhanced the educational experience for the fund managers.

The Fund maintains working relationships with alumni and other professionals in the financial services industry, acting as mentors for the managers of the portfolio. The managers work with faculty advisors from the finance department as well as with an advisory board consisting of investment professionals in the Richmond community. Each year, the Fund continues to improve and plays a unique role in the finance curriculum. Through high caliber students, determination, and professional conduct, SMIF will remain one of the most unique and prestigious programs offered at the University of Richmond.

Current Managers

Heuvel

Payton Van Den Heuvel, General Manager
Payton is pursuing a major in Business Administration with a concentration in Finance and a minor in History. He is from Milwaukee, Wis. This past summer, Payton worked at Jefferies as an investment banking summer analyst within their Logistics and Transportation Group. Previously, he worked as an investment banking summer analyst at Boxwood Partners where he focused on the Home Service Franchising Industry. After graduation, Payton will continue with investment banking at Harris Williams. Outside of SMIF, Payton is the treasurer of his fraternity and a member of the club soccer team.

Gridley

Stephanie Gridley, Head Value Fund Manager
Stephanie is pursuing a major in Business Administration with a concentration in Finance and a minor in Mathematics. For the past two summers, she interned as a Global Markets Summer Analyst at UBS focused on FX, Rates, Structured Products, and Global Equity Derivatives. She will be returning to UBS in New York City as a full-time analyst in the Rates Sales Division following graduation. Outside of SMIF, Stephanie has enjoyed being treasurer of the Club Field Hockey team on campus, as well as being a part of several other student organizations and extracurricular activities.

Cook

Alex Cook, Head Growth Fund Manager
Alex is pursuing a degree in Business Administration with a concentration in Finance. This past summer, Alex interned at Credit Suisse as an investment banking summer analyst in the Financial Institutions Group. After graduation, he will be returning to Credit Suisse as a full-time investment banking analyst in New York City. During his sophomore summer, Alex interned with Macquarie in their Asset Management division on the U.S. Core Equity team where he performed investment research and analysis on small and mid-cap financial technology companies. During his sophomore year, Alex interned part-time outside of his classes at Marriott & Co, LLC here in Richmond as an investment banking intern focusing on sell-side M&A. In addition to SMIF, Alex serves as co-president of Finance Society and vice president of Gateway Capital Management. 

Mendelson

Emily Mendelson, ESG Manager
Emily is pursuing a degree in Business Administration with a concentration in Finance and a minor in Chinese Language Studies. This past summer, Emily interned at Stifel Financial Corp as an investment banking summer analyst. At Stifel, she worked within the Diversified Industrials group and will be returning as a full-time analyst following graduation. During her freshman and sophomore summers, Emily interned at Markel Insurance Company in the actuarial science, data analytics, and underwriting departments. Outside of SMIF, Emily is involved with Lakeside Consulting Group, Alpha Kappa Psi, Hillel, and is a member of the Honor Council.

Donsky

Tyler Donsky, Vice President of Recruitment, Value Fund
Tyler is pursuing a degree in Business Administration with concentrations in Finance and Management Consulting. After sophomore year, Tyler interned at JMP Securities, LLC as an equity research summer associate on the Clean Energy and Industrial Technology team. This past summer, he gained investing exposure while interning at Capstone Financial Partners, a Richmond, Va.-based wealth management firm. In addition to SMIF, Tyler is the senior analyst for the Spider Venture Fund, plays on the UR Club Hockey team, and holds a leadership position in his Greek organization.

Angelus

Carter Angelus, Value Fund
Carter Angelus is pursuing a major in Business Administration with a concentration in Finance and a minor in Computer Science. This summer Carter held an internship at Putnam Investments, an asset management firm in Boston. Outside of SMIF he is a member of Greek Life and enjoys basketball and other extracurricular activities on campus.

Coyle

Danny Coyle, Value Fund
Danny is from West Chester, Pa., and is pursuing a major in Business Administration with a concentration in Finance. This past summer, he interned with Spider Management Company in Richmond, Va. as an investment analyst intern. The summer prior, he interned at Merrill Lynch as a wealth management intern. In addition to SMIF, Danny is a member of many extracurricular activities and organizations such as Alpha Kappa Psi. Following graduation, Danny hopes to pursue a career in investment management.

Pilkington

Michael Pilkington, Value Fund
Michael is from Villanova, Pa., and is pursuing a major in Business Administration with concentrations in Finance and Marketing. After sophomore year, Michael interned at Permit Capital Advisors, LLC, an investment advisory firm outside of Philadelphia. This past summer, Michael worked as an investment research intern at Capstone Financial Partners, a wealth management firm located in Richmond, Va. In addition to his role in SMIF, Michael holds a position on the executive board of his fraternity and is a member of the University of Richmond men's club soccer team. 

Reid

Buford Reid, Value Fund
Buford is majoring in Business Administration with a concentration in Finance and a minor in History. After his freshman year, he interned with Cerberus Capital Management, a private equity firm in New York City, specializing in distressed investing. He then interned in New York City for Fidus Partners, an investment bank focused on the middle market. Most recently, he interned in Zurich, Switzerland, for Portfolio Advisors, an asset management firm. Outside of SMIF, Buford is involved in the International Business Student Association and is a Richmond Club Hockey and Lacrosse Team member.

Zhu

Ying Zhu, Value Fund
Ying is an international student from China, majoring in Business Administration with a concentration in Finance and Computer Science, with a minor in Mathematics. Last summer, she worked as a wealth and asset management intern for a non-profit organization. On campus, Ying is a member of the DSP fraternity as well as a tutor for Finance and Calculus in the Academic skills center. Outside of Finance, she enjoys traveling, watching movies, and playing the drum set.

Cannon

Brock Cannon, Growth Fund
Brock Cannon is pursuing a major in Business Administration with concentrations in Finance and Business Analytics. Most recently, Brock gained investing exposure working at CAZ Investments, an alternative investments firm based in Houston, Texas. He will continue to work with CAZ throughout the fall semester, assisting with private market deal due diligence and investor presentations. Aside from SMIF, Brock participates actively in several on-campus organizations and extracurriculars. After graduation, Brock looks to pursue a career in equity research.

Chinai

Mihir Chinai, Growth Fund
Mihir Chinai is from Old Greenwich, Conn., majoring in Business Administration with a dual concentration in Finance and Business Analytics. After his sophomore year, he worked at Tresata, a data analytics consulting firm based in the Charlotte area. This past summer he worked at Virtu Financial as an execution services trading intern. On-campus, Mihir is a member of Greek life as well as the vice president and treasurer of the Club Golf team. 

Grosso

Erica Grosso, Growth Fund
Erica is originally from Hoboken, N.J., pursuing a major in Business Administration with a concentration in Finance and a minor in Psychology. This past summer Erica interned at Barclays in the Sales and Trading division where she completed rotations in Rates Sales and EM FX Trading. After graduation, she is very excited to be returning to the Rates Sales team full-time. Outside of SMIF, Erica is the chapter secretary of her sorority and is a member of the American Marketing Association.

Monfre

Evan Monfre, Growth Fund
Evan is pursuing a degree in Business Administration with a concentration in Finance and a minor in Math. Last summer, he interned at Falcon Affiliates, a Richmond-based private equity firm that specializes in industrial service companies. In addition to SMIF, Evan is an active member in a number of organizations and extracurricular activities. He is also an Economics, Accounting, and Math tutor for Spider athletics. Outside of Finance, he enjoys golf, traveling, and Scuba diving.

Nadwodny

David Nadwodny, Growth Fund
David is pursuing a major in Business Administration with concentrations in Finance and Economics. Most recently, he joined a Private Equity firm, Albaron Partners, where he will continue working during the fall semester. Here he spent his time performing due diligence as well as assisting with model creation for the firm's most recent acquisitions. As Albaron Partners is a small, healthcare-focused private equity firm, he will spend his time working solely on healthcare deals. Prior to that, he interned at a wealth management firm, Convergent Financial Strategies, in Philadelphia. There he spent his time performing sector research as well as assisting in the development of an ESG scoring method for the firm. In addition to SMIF, David is a Robins School of Business Endeavor program mentor.

Phillips

Jack Phillips, Growth Fund
Jack is pursuing a major in Business Administration with concentrations in Finance and Business Analytics, as well as a minor in Healthcare Studies. Last summer, he interned as an investment banking summer analyst in the Technology, Media, and Telecom (TMT) group at Deutsche Bank, where he will be returning full-time after graduation. The summer before last, Jack interned at a Durham-based asset management firm and studied the effects of COVID-19 on the airline industry. Outside of SMIF, he is the co-president of Club Tennis and a member of Greek life. Jack likes to travel, hike, and film in his free time.

Silverman

Ryan Silverman, Growth Fund
Ryan is pursuing a major in Business Administration, with a concentration in Finance and a minor in Philosophy. This past summer, Ryan worked as an investment research intern at Capstone Financial Partners, a wealth management firm located in Richmond, Va. The summer beforehand, Ryan worked as a capital markets summer analyst for NFM Lending, a mortgage lending company in Linthicum, Md. Outside of SMIF, Ryan is involved in various campus organizations and activities. After graduation, Ryan looks to pursue a career in asset management. 

Willis

Nicole Willis, Growth Fund
Nicole is from Chatham, N.J., majoring in Business Administration with concentrations in Finance and Accounting. Most recently, Nicole interned at BNP Paribas in the Global Markets Sales and Trading division where she rotated in High Yield Credit Trading, Mortgage Trading, and Repo Sales. After graduation, Nicole will be returning to BNP Paribas as a full-time analyst apart of the Repo Sales team. Outside of SMIF, Nicole has enjoyed her time as a Student Ambassador and Finance tutor.


Advisory Board Members

  • Rob Allen, Capstone Financial Partners
  • Nancy Bagranoff, University of Richmond
  • Perry A. Corsello, CFA, Virginia Retirement System
  • Christopher Dion, Lowe, Brockenbrough & Co.
  • John Earl, University of Richmond
  • Steve Fisher, Virginia Asset Management
  • Cederic Fortemps, Matrix Capital Markets
  • Patrick Galleher, Boxwood Partners
  • Steve Goddard, The London Company
  • Chris Haberlin, Davenport & Co.
  • Roberta Keller, Alexis Advisors
  • Ashley Long, 1607 Capital Partners
  • James Mallory, SunTrust Bank
  • Jeffrey McNeill, SunTrust Bank
  • Pat O'Hara, Agincourt Capital Management
  • Chris Pearson, Davenport & Co.
  • Matt Rosenthal, Aptimy
  • Gregory Sabo, Tone Capital, LLC
  • Doug Sandler, Riverfront Investment Group
  • Mark Schlegel, CFA, TFS Capital
  • John Sherman, Scott & Stringfellow
  • George Smith, Davenport & Co.
  • Don Steinbrugge, Agecroft Partners, LLC
  • Jerry Stevens, University of Richmond
  • Cody Tafel, Thompson, Siegel & Walmsley
  • Dennis Tarrant, Davenport & Co.
  • Dan Whitlock, Virginia Retirement Systems
  • Lonnie Whitlock, Lowe, Brockenbrough & Co.
  • Brad Young, Altius Associates

Portfolio

Current Growth Portfolio Holdings

Current Value Portfolio Holdings

Application Process

General Timeline:

  • The application process typically begins the week after winter break during junior year
  • The application involves a few essay questions and submission of a resumé
  • Students are screened
  • Applicants are given a company to write up an 8-10 page research report along with assignment of a current SMIF manager mentor
  • Research reports are submitted
  • Interview process is four interview sessions with two people each. Interviews are structured like sales and trading and investment banking interviews
  • Managers are chosen

Selection Requirements:

  • An overall grade point average of 3.2 or better
  • A grade of B or better in FIN 366 – Investments
  • FIN 366-Investments must be taken before fall semester of senior year to participate in SMIF
2018-19

General Manager
Jeremy Lacy

Growth Fund
Christian Berardo
Brad Gibson
Luke Knott
Bobby Piluso
Kate Schlinke
Keenan Shepard
Jack Tierney
Jess Wilson
Ying Wu

Value Fund
Pedro Balaban
Julian Baretta
Casey Begoon
Matt Freda
Chilton Gaines
Rishabh Jain
Ryan McCaffrey
Ryan Pasquali
Dennis Smith

Annual Report 

2017-18

General Manager
Joao Galbier

Growth Fund
Benjamin Barad
Haley Preschutti
Kieran O'Connor
Kylie Regan
Luke Perda
Oliver Merison
Raymond Kanyo
Anthony Faraino

Value Fund
Nelson Baetjer
Doug Butman
Ryan Byrnes
Alexander Cover
Connor Flanagan
Tyler Grosse
Elizabeth Sullivan
Cade von Gal

2016-17

General Manager

Megan Troy

Growth Fund
Christopher Hartman
Rob Ibarguen
Stathi Kyriakides
Matthew Leto
Rowland Mayor
Michael Walsh
Sean Walsh
Wanli Zhang

Value Fund
Matthew Celona
John Franceski
Han Kweon
Gregory Nodaros
Callie Reis
Dodo Stavrev
Ellie Sullivan
Natalie Swanson

Annual Report

2015-16

General Manager
Peter Donohue

Growth Fund
Matt Brookman
Connor Cole
Nate Cohen
Jack Clark
Divij Dugar
Tom Fickinger
Peter Ghiorse
Aaron Hamburger

Value Fund
Chris Ahn
Jill Cestaro
Mark Downey
Brian Gramolini
Brad Rigoli
Greg Stern
Kendall Stevenson
Bryce Yoo

Annual Report

2014-15

General Manager
Jake O'Donnell

Growth Fund
Kevin Alloway
George Appling
George Beck
Kelly Becker
Jared Bloom
Laura Levy
Saifali Shaikh
Michael Vivirito

Value Fund
Sean Baker
Marty Berkowitz
Abby Gilmartin
Connor Koorbusch
Camille Pittman
Skye Samse
Chris Silvey
Jack Stillwagon
Curtis Robbins