Student Managed Fund

CBE Building summer

Application Process

The Student Managed Fund (SMF) is a unique opportunity for deep activity based learning where students are responsible for the management of a fund comprising over $0.8 million, under the guidance of Convenors. The SMF is run as a 12 unit course of one year duration, and is available at both undergraduate (FINM3009 + FINM3010) and postgraduate (FINM6009 + FINM6010) levels. The funds arise from donations made to the University, and support a scholarship for disadvantaged students. The SMF operates as a managed fund with four sub-teams performing various functions. The primary task of students is to make investment recommendations* to be reviewed and endorsed by an Investment Advisory Committee that includes top industry practitioners.

Entry to the course is competitive, with only a small number of places available. Students must be able to enrol for two consecutive semesters, and apply via a written application including an investment recommendation, followed by an interview with the Convenors. The four sub-teams and pre-requisites are:

Active Australian Equities team

  • Undertakes research and makes investment proposals regarding Australian shares
  • Pre-requisite: FINM2003 Investments or FINM7008 Applied Investments
  • Pre- or co-requisite**: FINM3005 Corporate Valuation or FINM6005 Applied Valuation

Asset Allocation team

  • Undertakes research and makes investment proposals regarding the Fund’s broad asset mix, which are implemented using ETFs
  • Pre-requisite: FINM2003 Investments or FINM7008 Applied Investments
  • The completion of FINM3008 Portfolio Construction or FINM6016 Applied Portfolio Construction is highly regarded to be admitted into the AA team.

Relationship team

  • Manages communication of SMF activities to external parties via reports and social media platforms, and fosters engagement especially with other ANU students and staff
  • Pre-requisite: FINM1001 Foundations of Finance or FINM7006 Applied Foundations of Finance

Risk and Compliance team

  • Roles cover portfolio analysis and reporting, risk management, socially responsible investing and compliance monitoring
  • Pre-requisite: FINM2003 Investments or FINM7008 Applied Investments

For more information on the eligibility criteria, pre-requisites and admission process, please see the most recent Student Managed Fund Admission Procedure at the link below.  

Student Managed Fund Admission Procedure - Semester 2 2024 Intake


* Investment recommendation: The investment recommendation provides applicants an opportunity to showcase their potential to research and communicate a recommended course of action in an investing context. If granted an interview, students will be asked questions regarding the recommendation as vehicle for conversation. Guidelines are left deliberately broad. For example, the recommendation could be stock or asset class specific, or related to portfolio formation. It does not have to be specifically targeted towards the Student Managed Fund. The team(s) a student is applying for in conjunction with the Finance courses they have competed will be taken into consideration. For instance, a student applying for the Relationship Team who has only undertaken Foundations of Finance will not be expected to show the same level of complexity and understanding as a student applying for the Active Australian Equities teams who has completed Corporate Valuation.

** Co-requisites: Applications to join particular teams on the basis of co-requisites will generally only be successful if the selection committee is convinced that the student has the required prior training or skill levels, perhaps because of prior experience.

Links to further information about the SMF