Women studying business at Fordham University in New York have a new educational tool to power their financial learning: a $500,000 investment fund managed exclusively by the students. The fund is expected to be up and running during the fall semester.
The fund is the result of a gift to the university’s endowment from Mario Gabelli, the founder and chairman of Gabelli Asset Management and a 1965 graduate of the Fordham business school that now bears his name.
This semester, the Gabelli Center for Global Security Analysis worked with the Fordham investment office to establish a $500,000 fund to be managed and invested exclusively by the Fordham chapter of Smart Woman Securities, a student club whose mission is to educate undergraduate women on finance through weekly seminars, mentoring initiatives, and exposure to successful professionals and businesses.
“We are deeply grateful to Mario Gabelli for his generosity in creating this opportunity for our students,” said Lerzan Aksoy, dean of the Gabelli School of Business, in a post this week on Fordham Now. “By entrusting our undergraduate students with real investment decisions, this fund enhances our value investing program and empowers future women leaders in finance.”
The Smart Woman Securities Value Fund is distinct from Fordham’s Student Managed Investment Fund (SMIF)—a global fund that encompasses stocks, bonds and alternative assets. The new fund is designed to be an equity fund and, unlike SMIF, a two-semester undergraduate course, will be managed through the Smart Woman Securities (SWS) club.
Both funds complement the Gabelli School’s academic concentration in value investing, giving students an opportunity to put classroom learning into action.
“Getting to know the SWS women well, I recognized that they have earned the opportunity and are the right home for the fund,” said Paul Johnson, a faculty member and executive director of the Gabelli Center for Global Security Analysis, who championed the Fordham club for its track record of excellence and growth.
“The more time I spent with them, the more I was amazed. They are completely bootstrapped, completely self-managed, with almost no outside support—the women that run SWS are incredibly impressive,” he said.
The fund was introduced at an April 1 networking reception at the Lincoln Center campus in Manhattan that brought together students and alumni of SMIF and SWS. Since 2010, SMIF has helped many Fordham graduates launch careers in finance.
This spring, SWS leadership is focused on building the infrastructure for executing the fund, Johnson said. That includes drafting an investment memorandum with input and guidance from the Fordham investment office and faculty advisors, finalizing investment criteria, choosing analysts and portfolio managers, and training students to source and pitch investment ideas.
“We are so proud to launch the SWS investment fund, an incredible milestone for our chapter,” said Raimy Little, the club’s chief executive officer. “While other SWS chapters nationwide do have funds, the significance for the club at Fordham is profound.”
She said the club is aiming to finish developing its training curriculum in the summer, with an eye toward investing money by the end of the year.
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