The SMIF is a student-founded and student-run investment research and management organization that invests a portion of Barry’s endowment. Here Logis and Best compare their experiences.
Victoria Logis ’14 and Marvin Best ’20, ’22 both joined Barry’s Student Managed Investment Fund (SMIF) as students.
What is SMIF?
The Student Managed Investment Fund (SMIF) is a student-founded and student-run investment research and management organization. SMIF began in 2012 when a few Andreas School of Business Students became interested in developing a program that would give students real-life investing experience. Barry University’s Board of Trustees allocated the initial funds from the University’s endowment to help kick-start the program. SMIF is governed by an Advisory Board composed of highly successful executive-level practitioners in the field of investments.
Here Logis and Best compare their experiences.
What did the fund look like when you started investing?
VL When I started in 2013, it was $50,000. When I graduated a year later it was $100,000.
MB When I joined in the beginning of last year, it was $1.1 million. Now it’s $1.2 million.
Biggest win with SMIF?
VL When we go to high schools to teach students about finance. It gives us the chance to mentor others, and they benefit from what we learn.
MB I’m in charge of our new partnership with Big Brothers Big Sisters of Miami. Every week, 40 to 50 students participate in a financial leadership program and a program called FinFit Thursdays that talks about developing budgets, scholarships, credit, and investing.
Lessons learned?
VL Before you ask a professor a question, go and do research. As long as your professor or mentor sees that you are researching first, they will look at you differently. I wish I had done that more often.
MB My biggest takeaway is that it’s not easy leading a team, but you have to be able to relate to people. Starting off as a regular member, I was in the back listening and taking it all in. This semester I was given the community director role, so I had to learn how to delegate to people that are in the position I was in a year ago.
What would you do differently?
VL I would develop SMIF as a case study to market it to students. Look at where SMIF students are now after participating in the program—it attracts the best students.
MB I would have joined SMIF earlier. I was in student government, but not a finance person. I think SMIF has done for me, in the past year, more than I have done for myself in the past three or four years: the connections I’ve made, the alumni, the networking.
What would you tell other students who are interested in SMIF?
VL When you start at SMIF, you may be shy, wondering if it’s for you. Later you develop into a leader and you ask how you can give back. You build on your leadership skills and also build your résumé.
MB Jump in blindly. Don’t think you need to have a lot of experience to be helpful. It’s really about teaching and mentoring, and leadership development.
How are you using your SMIF experience?
VL I definitely became more confident. I applied for a position on LinkedIn and got a call within a day. Every time I have an interview, I reference SMIF. I stay in touch with the people from SMIF, and one is my best friend. I always think about my fellow Barry students and those at SMIF whenever there are job openings, because of the relationships we have built. It’s about connections and relationships.
MB I joined the Miami Finance Forum through SMIF. That has helped me connect with professionals who are mentoring me and connecting me to the job market. SMIF has given me more than just a network, it has given me confidence.