RADFORD, Va. (WDBJ7) As the stock market continues to rise, more than just stock brokers are enjoying the benefits.
Finance students at Radford University are also enjoying success in real stock training.
Radford University's Student Managed Investment Portfolio Organization, or SMIPO, has been active since 2002 when the Radford University Foundation gave the group a $100,000 investment.
It now stands at over $1.2 million.
The organization is completely student run, with input from faculty advisors.
Professor of Finance Steven Beach explained, "We're there to guide them but they get to make all the decisions and they've done an outstanding job."
The fund invests in Small-to-Mid Cap Value stocks, which requires a great effort in research, analytics, and decision making. Some of the stocks the organization invested in are Sovran Self Storage, Cooper Tire, Eastman Kodak, BlackRock Capital.
Member said that list is not a recommendation to invest in any of these stocks, just a sample of our holdings.
SMIPO has a number of awards and is recognized internationally, winning the top fund ranking for the Value Fund Category - Undergraduate Division at the 2016 Global Asset Management Education Forum.
To win, the organization submitted its annual results showing a 3% gain versus a -2% gain for S&P 500.
And it's not monopoly money! The students are earning real, cold, hard cash for the Radford University Foundation!
"It's amazing how hard they work now that it's real money that they get to work with," Beach said. "We see, really, the commitment level that they have that they put in more time on that than they do, maybe sometimes, on their schoolwork."
The Foundation then uses the money to fund scholarships and other programs at the school.
The group usually has between 15 and 25 members each year, each of whom must sign a Code of Conduct and adhere to a Code of Ethics. The organization is also able to award four scholarships per year to student members.