If you’re looking for an education with a focus on real-world experiences, it doesn’t get any more real world than Pace’s Finance 357 class and our Student-Managed Portfolio.
Students from Finance 357 were responsible for the portfolio’s 39 percent gain in 2013. The gain was not only a great return on investment, but paid off with a first place in the “Undergraduate Growth” category at the recent Global Asset Management Education Forum. Quinnipiac University and NASDQ-OXM sponsored the event, which attracted 140 schools from more than 40 different states.
This is an incredible accomplishment and once again demonstrates that Pace students can win in competition with the best students from the nation’s top universities. Our Student-Managed Portfolio’s performance over the last five years has held its own against some Wall Street firms too. Totally managed by students, the equity portfolio was up 26 percent in 2009, up 27 percent in 2010, down 3 percent in 2011, up almost 8 percent in 2012, and up 39 percent in 2013.
Each semester students from Finance 357 inherit the portfolio from the previous semester’s class. Unlike classes that learn by managing “pretend” portfolios, Finance 357 students invest real money. Alfred Goldstein, a generous supporter of Pace University, advanced the seed money for the portfolio. Students decide on the characteristics of the stocks they would like in the portfolio and then vote on which stocks to buy or sell. They don’t need their professor or anyone else associated with the University to approve their decision. In fact, Professor Ron Filante doesn’t even voice an opinion during class discussions to ensure the portfolio remains 100 percent student managed.
Pace University excels at giving students an education that combines excellent classroom instruction with real world experiences. Congratulations to the class of Finance 357 for excelling in the very real, competitive, risky, and roller coaster investment world.