One of the recent buzz words in higher education these days is “experiential learning.” At the Carlson School, the CFE has been teaching students for 15 years, in an experiential way, how to manage a real portfolio. As the CFE Program continues to develop, thanks to our dedicated participants and over 400 alumni, we continue to examine how we can continue to be a national leader.
Over the course of 2014-15, we will be taking a critical review of our curriculum and listen to the business community on how we can teach students to apply fundamental knowledge in a constantly changing financial environment. I welcome your input in this regard and hope that you will consider responding to surveys, questions, etc. over the upcoming academic year.
Thank you for your continued support… and go Gophers!
New CFE Fellow
The Carlson Funds Enterprise is proud to announce its 2014-15 recipient of the Carlson Funds Enterprise Fellowship, Mr. Joseph Smaby!
Mr. Smaby will be joining the Carlson School this fall as part of the incoming MBA class and we are very excited to have recruited a student of his experience, talent, and potential. Mr. Smaby was most recently an Associate at Paracle in Mercer Island, WA. When asked why he chose the Carlson School, Mr. Smaby cited the Carlson Funds Enterprise as his primary reason.
As someone interested in a career in investment management, I wanted to attend an MBA program that would enable me to develop a more thorough and comprehensive understanding of the money management process. By providing its students with the opportunity to apply what is learned in the classroom in a real-world setting, the CFE represents exactly the type of experiential learning I'm looking for. I'm excited and honored to take part in the program.
As the 2014-15 CFE Fellow, Mr. Smaby will be joining the Funds Enterprise in a unique program designed to jump-start his academic career and work with the Enterprise. This opportunity to begin work early with the Carlson Funds Enterprise would not be possible without the generous scholarship support of our wonderful alumni and friends of the program.
Class of 2015 Students
Our students are now in their second year of studies at the Carlson School and are starting to look for fulltime job opportunities. Check out our Class of 2015 Bio Book (605.39 KB) to find out more about our students and their career interests!
Carlson Growth Fund (CGF)
Outside of geo-political events, volatility for August was calm compared to July. Following Jackson Hole, where there was no new talk about rate hikes, the markets continued to climb higher. Consumer sentiment also continued to climb going into September. With some of these doubts out of the way, markets for August had a strong month.
For the month of August the Carlson Growth Fund was up 2.86%. While positive for the month there were some major detractors that we as a class are in the process of re-evaluating our thesis and our position in these stocks. On the positive side after strong auto data our larger holding Gentherm (THRM) was up 16.73% for the month.
Carlson Fixed Income Fund (CFIF)
During the month of August our portfolio outperformed the benchmark by 3 bps. Overall, our portfolio has outperformed the benchmark by 30 bps since the beginning of the year. August outperformance can be attributed to our corporate holdings where we outperformed the benchmark by 12 bps, which more than compensated for our underperformance in treasuries and government related securities.
Our class has recently returned from our summer internships to Carlson, and we are excited to start the new school year. We are thrilled to have long time CFIF mentor Susanna Gibbons join us as CFIF Program Director, and thankful for Jerry Caruso’s stewardship of CFIF since Jeannette Parr’s departure earlier this year. Susanna previously led RBC Global Asset Management’s Fixed Income Credit Research Team, and has extensive capital markets experience. We are looking forward to working with Susanna on the portfolio and our credits, and drawing on her wealth of knowledge in fixed income.
Visit our Particpants page for more detailed information.
The Funds Enterprise, in conjunction with the Carlson School Finance Club, will be holding its fall networking event in an effort to promote more alumni engagement and interaction with our students.
The CFE Mixer will be held on Tuesday, September 30, from 5:00 to 7:00 p.m. at Solera Restaurant in their second-floor event space. Please visit our event site for more information.
As you might have noticed, the Carlson School has gone through an extensive website redesign over the summer. We hope that you enjoy the new format on both your desktop and mobile devices.
Save the Date: Second Annual Conversation on Gender Balance in Finance
Mark your calendars! We are excited to announce that Chief Administrative and Chief Financial Officer of Best Buy, Sharon McCollam, will be the keynote speaker for this year’s 2nd Annual Conversation on Gender Balance in Finance event. The event will be held on October 7 from 3:30 – 6:30 p.m. Visit the event site for more information.
If you are interested in sponsorship opportunities for this event, please read our sponosorship proposal.
Other Upcoming Events
September 25 - CFE Board Meeting
Greater Than 7: Courageous Conversations about Equity and Diversity
October 7: First Tuesday
In the News
Carlson Fixed Income Mentor and Carlson School MBA Alum, Erica Bersland, was recently quoted in the Star Tribune
The spring 2014 edition of the Legacy Magazine featured CFE Founder, Alfred Harrison, and his wife, Ingrid Lenz, for their generous gift to the Minnesota Landscape Arboretum - http://www.arboretum.umn.edu/sculpture_garden.aspx
CFE Program Director, Jerry Caruso, was quoted in 7/26/14 Pioneer Press article about the Medtronic merger.
New CFIF Director!
The Carlson Funds Enterprise is happy to announce our new staff member: Susanna Gibbons. Susanna will lead the Fixed Income Fund as its Program Director and is responsible for the overall operations of the Fixed Income portfolio. Susanna has been a mentor to the CFE Fixed Income Fund for the past 5 years and is very familiar with our program.
Susanna previously led GBC Global Asset Management’s fixed income Credit Research Team. Susanna’s research responsibilities included banking, energy, finance, and utilities. She has extensive capital markets experience. Susanna joined RBC GAM in 2007 from Jeffrey Slocum & Associates, where she was the director of fixed income research. She also held several senior credit and portfolio management positions at The St. Paul Companies. Susanna began her career in the investment industry in 1985. She earned a BA in psychology from Bryn Mawr College and an MBA in Finance from the New York University Stern School of Business. Susanna is a CFA charterholder.
Please join me in welcoming Susanna to the CFE. She can be reached at 612-624-1301 and firstname.lastname@example.org.
New Academic Advisors
The CFE is excited to have two new academic advisors on board this fall.
Tim Nantell, Growth Fund Academic Advisor
Timothy Nantell has worked at the University of Minnesota since 1983 and has held numerous positions with the Carlson School such as: Acting Dean, Associate Dean of Faculty, Finance Department Chairperson, and Faculty Director of the MBA Program. He also helped found the Carlson Funds Enterprise. His current research and teaching interests concern valuation models and their application. Tim earned his BA in Mathematics, MBA in Finance, and PHD in Finance from the University of Wisconsin.
Rick Nelson, Fixed Income Fund Academic Advisor
Rick Nelson is a Senior Lecturer in Finance and Director of Undergraduate Finance Programs, Department of Finance, Carlson School of Management, University of Minnesota. He joined the Carlson School of Management faculty in 1997 and has over fifteen years of experience teaching numerous International, Executive MBA, MBA, Undergraduate and Executive Education courses in Finance. Prior to joining the Carlson School of Management, Mr. Nelson held various senior management positions at companies such as ReliaStar Financial (now ING), MTS Systems Corp, and Lerch Brothers Inc. He received his BSB and MBA from the Carlson School of Management.
Mark Argento, ’01 MBA
Founder, Equity Research Analyst, Lake Street Capital Markets
Our class was one of the first to participate in the original “Golden Gopher Growth Fund”, the predecessor to the CFE. I proudly have the original fund offering tombstone on my office bookshelf. My time in the CFE provided me with very specific real world training for what is now a 13 year career as an equities analyst and capital markets professional. The process of initial screening, due diligence, report and presentation preparation and ultimately having to make a pitch to investment professionals was a perfect training ground for my daily tasks as a research analyst. Not only did I get to leverage my CFE experience to become an analyst but my CSOM education ultimately provide me with the tools to launch a boutique investment bank in 2012 with other Carlson School Alumni, Mike Townley and Rob Brown, along with two additional Lake Street founders. Recently we’ve had the pleasure of hosting two CFE students as summer interns as the program is a great training ground for future Lake Street professional knowing full well CFE students can hit the ground running in our fast paced environment.
The Carlson Funds Enterprise provides a variety of opportunities for organizations and individuals to engage with us. Opportunities include hosting site visits, sponsoring live case competitions, becoming a guest speaker, and lending financial support for student scholarships, research, and program development. If you are interested in learning more about ways to contribute to our program, please e-mail Jerry Caruso.
The CFE is starting an Ambassador Program this September. CFE Ambassadors are working professionals who don’t necessarily have the time to be a CFE mentor but who want to still be a resource to current CFE students. Ambassadors are not obligated to attend events, meetings, or pitches but are encouraged to interact with our students if contacted by them. By being an ambassador you are agreeing to let us share your contact information with students so that they can contact you about careers, projects, research, etc.
If you’d like to be a part of our Ambassador Program, please fill out our information form with your preferred contact information.
If you would like to stay in the loop about CFE events and news, please sign up to be added to our distribution list.