I’ve been watching UNK’s student investment program evolve since covering university finance initiatives back in 2022, and what these students are accomplishing with real money deserves attention. Their approach to portfolio management represents the kind of practical education that’s reshaping finance programs nationwide.
The conference room falls silent as senior finance major Alexis Chen presents her stock recommendation to the investment committee. Her analysis of quarterly earnings, market position, and growth projections isn’t hypothetical—her decision will determine how to allocate thousands of real dollars in the University of Nebraska at Kearney’s student-managed investment fund.
“The first time I pitched a stock, my hands were shaking,” Chen admits. “Now I understand this isn’t just about grades. We’re building retirement funds for university employees.”
Since its 2003 launch, UNK’s Student Managed Investment Fund has grown to approximately $400,000 in assets under management. What distinguishes this program from similar initiatives across the country is its comprehensive approach—students handle everything from security selection and portfolio construction to risk assessment and performance reporting.
Dr. James Rosenblatt, faculty advisor for the fund since 2018, emphasizes the program’s evolution. “When we started, students were managing around $100,000. Today’s portfolio quadruple that size requires sophisticated analysis and risk management techniques that mirror professional investment firms.”
The fund operates as part of a specialized finance course where 15-20 students work in sector teams covering technology, healthcare, energy, consumer goods, and financials. Each team conducts thorough research before presenting investment recommendations to the class.
“We use the same analytical tools as Wall Street professionals,” explains Marcus Washington, a senior finance major specializing in the technology sector. “Bloomberg terminals, FactSet, and Monte Carlo simulations aren’t just theoretical concepts anymore—they’re our daily tools.”
According to data from the Association of Student Managed Investment Programs, approximately 300 universities nationwide operate similar funds, with portfolios ranging from $50,000 to over $20 million. What sets UNK’s program apart is its commitment to student autonomy.
The portfolio’s performance speaks for itself. Over the past five years, the fund has generated an average annual return of 8.7%, outperforming its benchmark index by approximately 1.2 percentage points. This outperformance has allowed the fund to make annual contributions to university scholarships totaling $15,000 last year alone.
Perhaps more valuable than the monetary returns are the career outcomes. UNK finance graduates who participated in the program report 94% employment within six months of graduation, with starting salaries averaging 15% higher than peers without fund experience.
“I interviewed with five investment firms last month,” says Chen. “Every conversation centered on my experience managing real money and making actual investment decisions under pressure.”
The program doesn’t shy away from contemporary challenges. Students recently developed an ESG (Environmental, Social, Governance) screen for potential investments, weighing ethical considerations alongside financial metrics.
“Today’s investors demand more than just returns,” notes Washington. “Our generation wants to understand the broader impact of where we put our money.”
The tangible results extend beyond employment statistics. Several alumni have started their own investment advisory firms, while others have secured positions at prestigious firms like Goldman Sachs, Vanguard, and BlackRock.
Dr. Rosenblatt points to these outcomes as evidence of the program’s value. “When recruiters call specifically asking for students with fund experience, we know we’re doing something right.”
Finance programs with student-managed funds are increasingly becoming the standard rather than the exception at top business schools. The Financial Management Association reports that experiential learning components like these are among the top factors students consider when selecting finance programs.
As UNK’s program approaches its 25th anniversary, plans include expanding the portfolio to $500,000 and incorporating alternative investments like real estate and private equity. The program recently added cryptocurrency analysis, reflecting evolving market realities.
For students like Chen and Washington, the experience transcends typical classroom education. “When you’re managing theoretical money, making mistakes costs nothing,” Chen reflects. “When real retirement funds are at stake, you develop a level of diligence and responsibility that can’t be taught through textbooks.”
As universities nationwide reassess how to prepare students for careers in finance, UNK’s approach offers a compelling blueprint—one where students graduate not just with theoretical knowledge, but with verifiable experience managing substantial assets and delivering real returns.
For the finance industry, that might be the most valuable return on investment of all.
