Today's portfolio managers don't just pick stocks. They gather insights from the global economy and turn them into decisions across every major asset class.
They combine macroeconomic analysis, quantitative tools and disciplined risk management to build portfolios that hold up in changing markets, and they do it with a sense of responsibility to the investors they serve.
At Stevens, the Graduate Student Managed Investment Fund (GSMIF) is where master's students put that skill set to work with real money. Launched in Spring 2025, and building on more than a decade of success with the undergraduate Student Managed Investment Fund, the GSMIF manages actual capital from the university's endowment. There are no paper portfolios and no simulations. Students make live investment decisions in a setting that mirrors professional asset management, preparing them for careers in institutional asset management, hedge funds and investment advisory.
What Makes GSMIF Unique
The School of Business's strengths in technology and finance, reinforced by the Hanlon Financial Systems Center, give graduate students an environment built for the next generation of investment leaders.
A global macro strategy
The GSMIF takes a top-down approach, analyzing macroeconomic and geopolitical conditions around the world and translating views into long and short positions across equities, fixed income, currencies, commodities, precious metals and real estate.
Institutional-style implementation
Unlike the undergraduate fund, the GSMIF invests only through exchange-traded funds (ETFs). Decisions are made at the asset-class level and carried out through ETFs, the same approach many institutional investors use for liquidity, diversification and flexibility. GSMIF members learn how the industry researches, compares and selects ETFs.
Professional standards
Students have room to develop their own investment ideas within a structured framework built around risk management, governance and ethics. The fund follows professional standards aligned with the CFA Institute's principles, so they build the integrity, accountability and fiduciary mindset the industry expects.
Industry proximity
Wall Street is a 10-minute train ride from Stevens' Hoboken campus, putting you close to the firms, professionals and alumni who shape global markets.
How It Works
The GSMIF is run through the Asset Allocation Practicum, a School of Business graduate course focused on applying investment principles rigorously in live markets. Seats are competitive. Students apply and are chosen from a large pool of candidates through a thorough selection process.
Members work in specialized teams, such as discretionary research and risk management. Together, they assess the state of the global economy, develop a firm view on where to invest, defend their recommendations to their peers and set the fund's allocations, gaining hands-on experience in strategic asset allocation, risk assessment and ETF selection. They build the conviction and professional presence needed to present an investment case with confidence.