DAYTON, Ohio (WDTN) – A new partnership between The Dayton Foundation and the University of Dayton will allow students at the Davis Center for Portfolio Management to “advise and manage a $1.5 million pool of assets,” according to the university.
Students have long managed a portion of the university’s endowment that totals more than $35 million. The students’ Flyer Investments Fund is the third largest student-run investment portfolio in the nation, allowing students to make decisions to buy, sell, or hold stocks.
“We are thankful to the Foundation donors who are making this experience possible for our students. We believe our students are among the first in the country to have an opportunity to manage money from a community foundation,” School of Business Administration Dean John Mittelstaedt said. “Not only will this give students an even greater competitive advantage when they enter the job market, it will deepen their connection to the Dayton community and the strong legacy of philanthropy here.”
In addition to charging a portfolio management fee, the students will also report the Foundation on the performance of its portfolio and the outlook of the market. The reporting will happen quarterly. The fee, meanwhile, will go back to charitable activities through The Dayton Foundation.
“We are thrilled to make possible this real-world investment management opportunity to the students of the University of Dayton’s Davis Center for Portfolio Management and so grateful for the Foundation’s donors who have generously designated a portion of their charitable funds to this asset pool,” Dayton Foundation President Michael M. Parks said. “What an outstanding real-life experience these Foundation donors are providing to the students.”
Students are also excited for the opportunity to manage the portfolio through the Foundation.
“It is going to be an amazing experience to manage the Foundation portfolio,” Senior Manager of the Davis Center Jake Blewitt, a senior majoring in finance from Philadelphia, said. “Experiential learning is a huge part of what we do at the University of Dayton and this is a great way for us to get real-world experience. It’s a significant responsibility and incredibly humbling to be able to do something like this as a student.”Grab the FREE WDTN News App for iPhone or Android. Stay up to date with all the local news, weather and sports as well as live newscasts and events as they happen.