Queen's University

Students investing in the future of Queen's

 
2011-03-17
[QUIC members are managing a fund portfolio that has seen impressive growth]QUIC executive members (left-right) Mark Vesely, Andrew Iu and Jeff Gallant (seen here with Kim Shannon, founder and CIO of Sionna Investment Managers) have helped the investment team manage a fund portfolio that has seen impressive growth in just a few months.

Queen’s School of Business (QSB) students are investing in themselves and in Queen’s by managing a fund portfolio that has seen impressive growth in just a few months.

“The money that we make goes right back to the school, which is great,” says Chief Executive Officer Andrew Iu. “The enthusiasm of the people managing the portfolios gives the group momentum. They’re all really passionate about what they do.”

The Queen’s University Investment Counsel (QUIC) is one of the largest student-run investment managers in Canada. The 27-student group includes an executive, portfolio managers, and analysts, who meet once a week. This is the first year since QUIC was formed in 2003 that the group has been tasked with managing real money.

The group began investing in September with a $500,000 portfolio. The QSB seeded the fund, and the students raised additional funds through donations from alumni and by holding exam review tutorials. Since then, the team has achieved impressive growth, with the fund now valued at approximately $611,000. “We are very proud of our performance to date,” says Mark Vesely, the team’s Chief Investment Officer. “We’ve outperformed the TSX by over 2%, with significantly less risk.”

“We are almost completely student-run, and it’s an extra-curricular activity for us as well,” says Jeff Gallant, the team’s Chief Strategy Officer. “We’re trying to compete with professional money managers who do this as a full-time job.”

For the students, being a part of QUIC also helps them in their career endeavours. Former QUIC members serve as mentors to current members, providing career advice and support. Current mentors work at a variety of companies including Goldman Sachs, Morgan Stanley, and TD Securities.

QUIC has three goals – to grow and retain interest in finance at Queen’s by serving as a forum for learning about real-world finance; to increase the value of the initial Queen’s investment; and to act as an intermediary between Queen’s and the broader finance industry.

The group plans to grow its asset base in order to donate some of the proceeds back to Queen’s and the QSB in the future.

QUIC meetings and events are open to everyone in the Queen’s community. For more information visit the website.

 

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