Student Managed Investment Funds

SMIF Program

The Student Managed Investment Fund (SMIF) Program at Duquesne University provides you with a compelling experience in money management and contributes to your preparation for successful careers in finance and investment management. You will learn to make evidence-based decisions investing in financial markets, which will enable you to leverage the experience in interviews for internship and career opportunities.

The SMIF Program at Duquesne University has two overarching goals:

To promote students’ career prospects in finance and investment management
To provide an opportunity for hands-on investment decision making while learning about finance and investments

Asset Management Group @ Duquesne

Any Duquesne student can participate in the SMIF Program through the Asset Management Group @ Duquesne (DAMG). Membership in DAMG engages students in opportunities for career development. These include guidance on internship and job-seeking strategies and networking with professionals from leading companies who are regularly invited as guest speakers. DAMG members learn about financial markets and the economy while gaining proficiency with the Bloomberg terminals in the Investment Strategy Institute.

Students who seek deeper experience in investment management can take Managing Investments I (FINC 200) and Managing Investments II (FINC 400). In these classes, students take responsibility for managing SMIF funds under the guidance of faculty and an executive-in-residence with significant industry experience. As of 2024, assets under management in these funds exceeded $1.5 million.

The SMIF Funds

Duquesne Values Fund

Duquesne Values Fund (DVF)

DVF is a long-only fund that invests primarily in large-cap stocks selected on the basis of fundamental analysis and ESG and Spiritan values. It's one of the largest undergraduate funds of its type in the nation, and it pursues a stock selection strategy employing fundamental equity analysis and valuation. Eligible investments are deemed consistent with responsible investing criteria and Spiritan values. DVF appeals to Finance and Accounting students with an interest in investment management and/or corporate finance.

The benchmark for the DVF is the iShares KLD 400 Social ETF (Symbol: DSI).

Fund value was approximately $1.3 million as of February 2024.

Duquesne Balanced Fund

Duquesne Balanced Fund (DBF)

DBF is an asset allocation fund that invests in ETFs for exposure across stocks, bonds and cash. While managing a diversified, balanced portfolio of sector Exchange-Traded Funds (ETFs), students learn the return and risk characteristics of a range of asset classes. DBF appeals to Finance, Accounting, and Sales and Marketing students interested in pursuing careers as financial advisors and wealth managers.

The benchmark for DBF is a 70/30 allocation to stocks and bonds accomplished with the iShares Core S&P 500 ETF (Symbol: IVV) and the iShares Core Aggregate Bond ETF (Symbol: AGG).

Fund value was approximately $160,000 as of February 2024.

Duquesne Microcap Fund

Duquesne Microcap Fund (DMF)

DMF is a long-only fund that invests primarily in micro-cap stocks selected on the basis of quantitative factors. In managing this common stock portfolio, students learn about the major factors driving individual stock returns. DMF appeals to Finance students with an interest in portfolio management or quantitative asset management.

The benchmark for the DMF is the iShares Microcap ETF (Symbol: IWC).

Fund value was approximately $120,000 as of February 2024.