Josephine Norton
Arizona State University offers several opportunities for students interested in investment management. The W. P. Carey School of Business, for instance, has an Investment Banking Industry Scholars (IBIS) program that educates students on the investment banking industry, including topics such as organizational structures, products, risks, and regulations. The school also offers an MBA Investment Management Fund, which provides students with practical, hands-on experience in portfolio management and securities analysis. Additionally, undergraduate students in the Department of Finance can gain experience through the Undergraduate Student Investment Management Fund (SIM Fund), where they manage a real investment portfolio. These programs provide valuable knowledge and skills for those aiming to break into the field of investment management.
What You'll Learn
Hands-on experience managing real investment portfolios
The Undergraduate Student Investment Management Fund (SIM Fund) at Arizona State University offers a unique opportunity for finance students to gain hands-on experience in managing real investment portfolios. This program provides a valuable learning curve for those aiming to break into investment management.
The SIM Fund mirrors an actual business marketplace, giving students a realistic understanding of the industry. Students are assigned specific management responsibilities, including trend analysis, strategy development, and formulating key indexes to assess fund performance. This course demands dedication and initiative, offering a rewarding practical experience in return.
Twice a year, students present their reports to the Fund Advisory Board, which includes investment professionals. These reports encompass fund performance, decision-making rationale, and management strategies. The board's oversight adds a layer of authenticity to the learning experience.
The SIM Fund is directed by Professor Sunil Wahal, a renowned figure in finance. It is a year-long course, with two credits earned in the fall semester and one in the spring. Students can apply for the program if they have junior or senior status by fall enrollment and possess strong credentials.
This hands-on approach to learning equips students with the skills and knowledge to confidently step into the world of investment management. It bridges the gap between academic theory and practical application, fostering a deeper comprehension of the field.
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Investment Banking Industry Scholars (IBIS) program
The Investment Banking Industry Scholars (IBIS) program is a career program offered by the W. P. Carey School of Business at Arizona State University. The program is designed to educate students on the investment banking industry and provide them with the skills and knowledge needed to pursue a career in this field. Here's an overview of the IBIS program, including its curriculum, application process, and benefits:
Curriculum and Focus:
The IBIS program offers a comprehensive curriculum that covers various aspects of the investment banking industry. Students will gain insights into investment banking organizational structures, products, risks, earnings, regulations, innovations, and competition. They will also analyze different functions within the industry, including corporate finance advisory, M&A, debt and equity capital markets, sales and trading, asset management, hedge funds, private equity, and venture capital. Additionally, students will have the opportunity to explore innovative Wall Street securities, instruments, and advisory products, as well as understand the relationships between investment banks and their corporate and institutional clients.
Application Process:
The IBIS program is designed for incoming freshmen or rising sophomores. The application process typically involves submitting an unofficial transcript and a statement that outlines the candidate's career goals, interest in the IBIS Program, and a summary of their academic and professional background. Applications are reviewed by the IBIS director and leadership group, and selections are announced in late April. For specific application deadlines, it is important to refer to the official IBIS program website or the W. P. Carey School of Business at Arizona State University.
Benefits and Testimonials:
The IBIS program offers several benefits that can enhance your career prospects in investment banking. According to testimonials from past participants, the program enables students to gain exposure to corporate finance, valuation, and merger and acquisition environments. It also provides valuable networking and technical skills that are highly applicable to the industry. The program is well-regarded by leading financial institutions, and participants have gone on to secure internships and full-time positions at prominent firms such as J.P. Morgan and Deutsche Bank. The program also fosters relationships and connections that can be beneficial throughout one's career.
Other Opportunities at ASU:
In addition to the IBIS program, Arizona State University offers several other opportunities for students interested in investment management:
Undergraduate Student Investment Management Fund (SIM Fund):
The SIM Fund is a value-added benefit for undergraduate honours students pursuing a finance bachelor's degree at the W. P. Carey School of Business. Under the direction of Professor Sunil Wahal, students in this program gain hands-on experience in managing a real investment portfolio. They take on specific management responsibilities, such as trend analysis, strategy development, and formulating key indexes for gauging fund performance. The course spans an academic year, with students earning credits in both the fall and spring semesters.
Finance Degrees and Courses:
ASU's W. P. Carey School of Business offers a range of finance degrees and courses that can provide a solid foundation for a career in investment management. These programs cover various aspects of finance, including investment banking, financial analysis, portfolio management, and more. Students can also benefit from the school's industry connections and career development resources.
In conclusion, the IBIS program at Arizona State University's W. P. Carey School of Business offers a comprehensive introduction to the world of investment banking. The program equips students with the knowledge and skills needed to pursue careers in this competitive industry. Additionally, ASU provides a range of other opportunities, such as the SIM Fund and relevant finance degrees, that can further enhance one's preparation for a career in investment management.
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Student Investment Management Fund (SIM Fund)
The Student Investment Management Fund (SIM Fund) is a value-added benefit of pursuing a finance bachelor's degree at Arizona State University. The SIM Fund is directed by Jack D. Furst Professor of Finance Sunil Wahal. The fund is presented as a course that involves a full academic year commitment, with two credits earned in the fall semester and one in the spring semester.
Eligibility
The SIM Fund is generally for undergraduate finance students who will have earned junior or senior status by the fall enrollment. However, other students who bring strong credentials may be considered. Applications may be submitted for the 2025-2026 academic year between February 1 and March 31, 2025. No late applications will be accepted.
Course Details
Students are assigned specific management responsibilities such as trend analysis, strategy development, and formulation of key indexes for gauging fund performance. The course requires initiative and dedication and provides the return of real-world experience.
Fund Advisory Board Presentations
A Fund Advisory Board composed of investment professionals oversees the fund, and twice a year the students present reports to the board that include fund performance and rationale for fund decisions and management.
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Individual Retirement Account (IRA)
An Individual Retirement Account (IRA) is a long-term, tax-advantaged savings account that individuals with earned income can use to save for the future. IRAs are designed primarily for self-employed people who do not have access to workplace retirement accounts such as a 401(k). However, you can also have an IRA if you already have a workplace retirement plan.
IRAs are meant to be used to invest and maximise the growth of funds for retirement savings. There is usually an early withdrawal penalty of 10% if you take money out before the age of 59 1/2; this is in addition to the taxes you'd pay on the withdrawn amount. However, there are some exceptions to the penalty rule, including withdrawals for educational expenses and first-time home purchases.
There are several types of IRAs, each with different rules regarding eligibility, taxation, and withdrawals. These include:
- Traditional IRA: You make contributions with money that may be deductible on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement.
- Roth IRA: You make contributions with money you've already paid taxes on (after-tax), and your money may potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.
- Rollover IRA: You contribute money "rolled over" from a qualified retirement plan into this traditional IRA. Rollovers involve moving eligible assets from an employer-sponsored plan, such as a 401(k) or 403(b), into an IRA.
- Simplified Employee Pension (SEP) IRA: Self-employed individuals such as independent contractors, freelancers, and small business owners can set up SEP IRAs. These adhere to the same tax rules for withdrawals as a traditional IRA.
- Savings Incentive Match Plan for Employees (SIMPLE) IRA: This type of IRA is intended for small businesses and self-employed individuals. It follows the same tax rules for withdrawals as a traditional IRA, and employees can make contributions to their accounts.
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Commission-free trading apps
Robinhood
Robinhood is one of the most well-known commission-free trading apps. It offers free stock, options, and ETF trades, and even cryptocurrency trades. It also has a subscription product called Robinhood Gold, which offers a high APY on uninvested cash and low margin rates. Robinhood is great for beginners, as it has a user-friendly interface and offers retirement benefits like IRAs. However, it lacks access to mutual funds and has few advanced trading tools.
Webull
Webull is another popular commission-free trading app, known for its user-friendly platform. It offers free stock, options, and ETF trades, and cryptocurrency trades. Webull stands out for its robust offering for active traders, including advanced trading tools and a wide investment selection. However, it requires a separate app for crypto trading and does not offer mutual funds.
Charles Schwab
Charles Schwab is a well-established broker that offers a free trading app with a wide range of investment options, including stocks, ETFs, bonds, options, mutual funds, and more. It has low account fees and provides excellent customer service through multiple channels. While the app is feature-rich, some users find it clunky and less user-friendly than other options.
Fidelity
Fidelity is one of the largest brokers in the US, offering a highly-rated free stock trading app. It provides $0 commissions for online stock and ETF trades, as well as fractional share investing, international trading, and a variety of account types. The Fidelity app has a user-friendly interface, live streaming quotes, charting tools, and additional features.
SoFi Active Investing
SoFi Active Investing is a commission-free trading app that provides access to stocks, options, and ETFs, as well as IPOs and mutual funds. It offers free financial counseling and a low-interest rate on uninvested cash. SoFi's app is easy to use and provides unique perks, making it a great choice for new investors.
These are just a few examples of commission-free trading apps available. When choosing an app, consider factors such as investment options, account minimums, educational resources, and the user-friendliness of the platform.
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Frequently asked questions
The Investment Management Fund at ASU is a value-added benefit of being a finance bachelor's degree or MBA candidate at Arizona State University. The fund provides students with hands-on experience in managing a real investment portfolio, similar to what they would encounter in the business marketplace.
The Investment Management Fund offers students the opportunity to gain practical, real-world experience in portfolio management and securities analysis. Students are assigned specific management responsibilities, such as trend analysis, strategy development, and formulation of key indexes for gauging fund performance. This course helps students develop initiative, dedication, and a strong understanding of investment management.
To apply for the Investment Management Fund, students must submit an application, including an unofficial transcript and a 1-2 page statement outlining their career goals, interest in fund involvement, and a summary of their academic and professional background. Applications are typically due between February 1 and March 31, and late applications are not accepted.
The Investment Management Fund is typically open to undergraduate honors students or MBA students in the Department of Finance at Arizona State University. Undergraduate students must have earned junior or senior status by the fall enrollment, while MBA students must have earned second-year status.
The Investment Management Fund is a full academic year commitment, with two credits earned in the fall semester and one credit earned in the spring semester. Students are expected to actively manage the fund and present reports to the Fund Advisory Board twice a year.
