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Whitman School announces student-run hedge fund
Wednesday, April 5, 2006,
By News Staff
Whitman School announces student-run hedge fundApril 05, 2006Amy Schmitzaemehrin@syr.edu
The Martin J. Whitman School of Management at Syracuse University has created a student-run hedge fund. Called the Orange Value Fund, it will be managed by Whitman students who will, together with the fund’s board of directors, make investment decisions on real money. The program will begin in the fall of 2006 and will be supervised by Fernando Diz, the Whitman Associate Professor of Finance and director of the Ballentine Investment Institute.
To date, commitments from various investors are expected to start the fund at $1 million.
“The Orange Value Fund is an innovative educational tool that will prepare students for working on Wall Street without the need for retraining,” says Diz. “While other business schools have student-run funds, very few have this substantial amount of money or use the value approach we will use. The Orange Value Fund will be run by the best of the best Whitman students. It will really set them apart in the marketplace.”
The Orange Value Fund was announced with the members of its board of directors on hand, including Martin J. Whitman, founder and co-chief investment officer of Third Avenue Management; Steve Ballentine, president and CEO of Ballentine Capital Management; Richard Haydon, managing director of Neuberger Berman; and Steve Barnes, managing director at Bain Capital.
Students who participate in the fund will be juniors and seniors majoring in finance and/or accounting at the Whitman School. The program includes summer internships at investment firms between junior and senior years.