Date of Award


Document Type


Primary Advisor

Jody Jones

Secondary Advisor

Kyle Tippens

Committee Reader

Matt Deeg


Growing in popularity over the recent decades, student-managed investment funds have provided universities with a unique opportunity to bring experiential learning into the financial classroom. Though many different decisions must be made by universities regarding the structure and practices of their funds, the most pressing is arguably the nature of the offering as either a curricular or co-curricular fund. Aiming to move beyond the qualitative arguments for either type, this study seeks to provide a quantitative argument for curricular or co-curricular student-managed investment funds by comparing their five-year average returns. The question of concern for this research project is: Do curricular or co-curricular student-managed investment funds generate higher returns for their governing university? After surveying 112 student-managed investment funds, the results provided an unreliable conclusion that inferred a separate and perhaps more pressing issue to be considered by universities. A significant survivor bias for cocurricular offerings makes the comparison sought after by this study difficult to obtain but causes noteworthy questions to arise regarding the length of time co-curricular offerings exist and how they potentially evolve into their curricular counterpart.

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.



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