History:
NDSU's Student Managed Investment Fund (SMIF) was formed during the 2006-07 academic year, at the suggestion of Dean Ronald Johnson, with two complementary objectives.  The first objective was to provide a unique educational experience for advanced business students by providing an opportunity to actively manage a significant portfolio of “real money.”  The second objective was to manage a portfolio in such as way as to provide competitive financial returns with appropriate levels of risk – i.e., to provide long-term performance equal to, or better than, professional portfolio managers. 

The group’s activities were ultimately made possible by a generous offer from Dean Tom Riley which allowed SMIF to manage an endowment portfolio of approximately $108,000 for the benefit of the Institute of Regional Studies.  The student founders of SMIF then proceeded to develop a roadmap for managing the endowment.  This process involves understanding the clients’ objectives and expectations with regard to investment risk return.  With this information in hand, and after considerable planning, SMIF portfolio managers developed a professional Investment Policy Statement describing how the portfolio would be invested – including guides for asset allocation (i.e., allocations to stocks, bond and cash) and security selection (i.e., which stocks to purchase). The Fund was initially deployed on March 14, 2007, with the purchase of approximately 25 individual stock issues and a bond mutual fund.

Students interested in participating with NDSU's student managed investment fund must first complete BUSN 441 Investment Analysis and Management, preferably in their junior year.  After completion of BUSN 441, students may apply to the program for one or two semesters by contacting the faculty advisor, John Elder, at john.elder@ndsu.edu .  
 

  Chris Nielsen, President Major: Finance Previously, I worked as a Branch Office Assistant for Edward D. Jones Investments in Bismarck and as a Teller for Wells Fargo Bank in Fargo, ND. This summer I worked with Arctic Information Technology, an IT consulting firm in Anchorage, Alaska, as a Microsoft Business Solutions Intern. I will earn my Bachelors of Science degree in the Spring of 2009 and plan to take the CFA Level I Exam in June 2009. After graduation, I plan to work in the investment industry, possibly as a financial advisor.

Kelly Correll, Vice President
Major: Finance, Spanish 
Kelly has been a member of the Student Managed Investment Fund since January 2008.  He has completed 3 finance internships and is currently working as an Investment Analyst with the F/M Angel Investment Fund.  After graduation in May 2009, Kelly will take the CFA level I exam in June and pursue a career as a financial analyst

Ann Bergstedt, Member Major: Finance I am currently employed as an Investment Assistant at Western Investments in West Fargo, ND. This summer I worked with Investment Centers of America as a Wealth Management Intern in Bismarck, ND and as a Sales and Services Representative at American Federal Bank last year in Fargo, ND. This is my first year with SMIF. I will earn my Bachelors of Science degree in May 2009.

Steven Gould Major: Finance
Steve is in his final semester at NDSU, where he will earn a Bachelors of Science. His most recent employment was with LifeSTAGE wealth management group as an associate wealth advisor. Previously he interned at Waddell & Reed Financial Advisors. This is Steve’s first semester with the group

Alec Grande
Major: Finance; Minors: Economics and Accounting
Currently a Service Supervisor at Hornbachers in Fargo and has been there for over 5 years.  Plans to graduate December 08.  After graduation Alec plans to move to the Twin Cites and work for an investment bank and pursue an MBA in finance, although he is also considering law school.

Zachary W. Perry
Major: Finance; Minor: Economics
Zachary is currently employed as a business consulting assistant with a technology start-up, Green Square North Dakota, which specializes in Health Insurance Payer innovation. Previously, Zach was co-founder of a landscaping company in the greater St. Cloud, MN area. This is Zach's first year with SMIF and is interested in the practical investment experience this opportunity will allow. Zach will graduate in the spring of 2009, and following graduation he wishes to pursue a career in either business consulting or in the financial sector.

Thomas RolfstadMajor: Finance
Thomas is currently employed at First International Bank & Trust.  Previously, he had worked as the Development Director for the
Theodore Roosevelt Expressway and Interned with First International Bank & Trust.  This is his first year with the SMIF and will be graduating in the spring of 2009.


Douglas Wyckoff Major: Accountancy
Douglas is currently employed as the Student Coordinator of the Climbing Wall at the NDSU Wallman Wellness Center, and is also an ambassador to the NDSU College of Business.  He will be graduating in the fall of 2009.  After graduation, Douglas plans on pursuing a career in public accounting where he will specialize in the audits of financial institutions.

Ron Storhaug, Member
Major: Economics; Minors: Business Administration and Music
Ron is currently the Executive Commissioner of Governmental Relations and Intercollegiate Affairs for NDSU Student Government, where he specializes in Legislative policy and advising. He has had two internships with US Senator Kent Conrad, both in Fargo and in Washington, DC. Ron plans to graduate in May 2009 and move to Washington, DC to work in the Senate.

Matthew Serfling, Member
Major: Finance
Matthew is in his final semester at North Dakota State University, where he will earn a Bachelor of Science in Finance.  He is registered to take the CFA Level I Exam in June 2009. After graduation, he plans to continue his education, working towards a PhD in Finance.

Drew Zimmerman
Drew is a senior at NDSU majoring in Finance.  He works as an overnight logistics team member at the Target store here in Fargo.  When he graduates in the spring, he will pursue a career centered around financial advising and consulting.


Blake Harris

Faculty Advisor:
Dr. John Elder
John is Professor of Finance. He has published numerousarticles in prominent academic journals, including the JFQA, JMCB, Journal of Financial Research and Journal of Futures Markets. His research has been cited by the U.S. Congress (cf. Joint Economic Committee), popular textbooks (cf. A Guide to Econometrics) and practitioners(cf. Institutional Shareholder Services). He also serves on the Investment Advisory Committee at State Bank & Trust Investments and holds the Chartered Financial Analyst (CFA) charter. He completed his PhD in economics with a concentration in finance at the University of Virginia.