Undergraduate Students
Carlson Funds Enterprise students participate in an intensive 8-credit, 2-semester course in which they gain hands-on experience with the management and marketing of a live portfolio from investments made by several area companies. The coursework required for the CFE aligns with the Finance Major core curriculum.
Curricular Requirements
Beginning Spring 2025, undergraduate students must complete the CFA Investment Foundation Certificate in order to participate in the Carlson Funds Enterprise. This is a pilot program and it is free for UMN students. Use the registration link below, sign up, and enter your UMN email to receive the code that will eliminate the need for payment.
2024 Deadlines:
Register by October 31st
Complete by December 20th
When applying to the Funds Enterprise, students should be on track to complete all courses listed below by the end of their semesters in the Funds Enterprise. Additionally, we have suggested an "Ideal Order" for your planning purposes, however, it is not required to follow these suggestions.
| Course | Credits | Title | Ideal Order | Additional Information |
|---|---|---|---|---|
| ACCT 3001 | 3 | Introduction to Management Accounting | Complete Prior to Joining CFE | Undergraduate Core Requirement |
| FINA 3001 | 3 | Finance Fundamentals | Complete Prior to Joining CFE | Undergraduate Core Requirement, Immersion Core Course |
| ACCT 5101 | 4 | Intermediate Accounting I | Complete Prior to Joining CFE | Finance Major Core Requirement |
| FINA 4121 | 2 | Financial Markets and Interest Rates | Complete Prior to Joining CFE | Finance Major Core Requirement |
| FINA 4221 | 2 | Principles of Corporate Finance | Complete Prior to Joining CFE | Finance Major Core Requirement |
| FINA 4321 | 2 | Portfolio Management and Performance Evaluation | Complete While in CFE (2nd Semester) | Finance Major Core Requirement |
| FINA 5322 | 2 | Financial Modeling | Complete While in CFE (1st Semester) | Replaces FINA 4422, Registration Permission Granted to Admitted CFE Students |
| FINA 5323 | 2 | Advanced Financial Modeling | Complete While in CFE (2nd Semester) | Registration Permission Granted to Admitted CFE Students |
FINA 6920 | 2 | Topics in Finance: ESG for Investors and the Economy | Complete while in CFE (1st semester) | Finance Major Elective |
Program Curriculum
Students admitted to the CFE will be granted permission to register for the corresponding course, depending on their placement with the fixed income or growth fund. As the Funds Enterprise is a one year commitment, students should register for the corresponding course for both the spring and fall semester, earning a total of 8 credits (4 credits each semester). Of the 8 credits total for the enterprise experience, 4 will count toward the finance major.
| Course | Credits | Title | Additional Information |
|---|---|---|---|
| BA 4501 | 4 | Carlson Funds Enterprise: Growth | Registration Permission Granted to Admitted CFE Students |
| BA 4502 | 4 | Carlson Funds Enterprise: Fixed Income | Registration Permission Granted to Admitted CFE Students |
Focus Areas Include:
- Discussing the economy, the markets and their impact on the portfolio
- Monitoring the fund's existing holdings
- Researching asset classes to make buy/sell recommendations according to investment guidelines
- Presenting portfolio recommendations to the Investment Oversight Committee, a panel of industry professionals and faculty advisers
- Overseeing all operational aspects of their respective fund, including portfolio management, marketing, client relations, media relations and performance reporting
Other Suggested Courses
| Course | Credits | Title | Additional Information |
|---|---|---|---|
| IBUS 4125 | 2 | Global Banking Post-Financial Crisis in Europe | Fulfills International Experience |
| ACCT 5102 | 4 | Intermediate Accounting II | |
| FINA 4522 | 2 | Options and Derivatives I | Finance Major Core Requirement |
| BLAW 3058 | 4 | The Law of Contracts and Agency | |
| ACCT 5160 | 2 | Financial Statement Analysis | Finance Major Elective |
| FINA 4242W | 4 | CAPSTONE: Corporate Investment Decisions | Finance Major Capstone Elective |
| FINA 4529 | 2 | CAPSTONE: Derivatives II | Finance Major Capstone Elective |
| ACCT 5180 | 2 | Consolidations and Advanced Reporting |
The Carlson Funds Enterprise collects applications in November for the upcoming year (spring semester and fall semester). Visit CFE open house events during the fall semester to meet our Managing Director and speak with current students to gain a full understanding of CFE and explore if it is a good fit for you and your goals. Learn more about upcoming events by looking at our events page. Interested students are encouraged to apply bellow. All applicants will be interviewed and notified of a decision before the end of the fall semester.
Beginning Spring 2025, undergraduate students must complete the CFA Investment Foundation Certificate in order to participate in the Carlson Funds Enterprise. This is a pilot program and it is free for UMN students. Use the registration link below, sign up, and enter your UMN email to receive the code that will eliminate the need for payment.
2024 Deadlines:
Register by October 31st
Complete by December 20th
Application Deadline: Friday, November 29th, 2024
Acceptance Notifications: Friday, December 6th, 2024
After November 29th: Rolling admission based on space. Email Olivia at to inquire[email protected]
CARLSON FUNDS ENTERPRISE APPLICATION
Application Documents Include:
- Cover Letter (one page) addressing: your interest in joining the CFE, how the CFE would contribute to your career plans, and your ability to meet the time commitment and participation requirements (2 semesters, 15-20 hours/week, some level of work during school breaks/summer).
- DEI Statement (250 words) addressing: what you have done to support diversity, equity, and inclusion at the Carlson School.
- Resume
- Unofficial Transcript
- Proof of registration for CFA Investment Foundations Certificate
Participation Requirements
All students are expected to actively participate in each class during the term - all portfolio decisions are made in a group setting, and every student analyst needs to come prepared to discuss the markets and the companies being researched. Expect a significant non-classroom workload.
Unlike Carlson’s project-based Enterprise Programs, the CFE is a year round commitment. Students are responsible for portfolio management activities on an ongoing basis, including during breaks and summer. The Financial Markets do not take breaks, and our clients expect and deserve vigilance. At the same time, we recognize the importance of other activities including internships and global experiences. We know everyone needs to recharge and refresh. That’s why we employ a team-based approach to research and portfolio management. It is each team’s responsibility to ensure that all companies are covered, and that monthly performance reports are produced and distributed. We encourage students to work remotely when needed, and collaborate actively with their teams even when traveling. That’s part of the real-world experience!
Ethics in Practice
The Carlson Funds Enterprise embraces the notion that businesses which do well over the long term behave ethically in the short term. While it can be a challenge to draw a straight line from the business’s core values to its long-term performance, we encourage students to explore these topics in a disciplined, thoughtful way. Prior to starting the programs, all students are required to complete specific modules covering these topics through the CFA Society and Principals of Responsible Investing (PRI).
Carlson Funds Enterprise students participate in an intensive 8-credit, 2-semester course in which they gain hands-on experience with the management and marketing of a live portfolio from investments made by several area companies. The coursework required for the CFE aligns with the Finance Major core curriculum.
Curricular Requirements
Beginning Spring 2025, undergraduate students must complete the CFA Investment Foundation Certificate in order to participate in the Carlson Funds Enterprise. This is a pilot program and it is free for UMN students. Use the registration link below, sign up, and enter your UMN email to receive the code that will eliminate the need for payment.
2024 Deadlines:
Register by October 31st
Complete by December 20th
When applying to the Funds Enterprise, students should be on track to complete all courses listed below by the end of their semesters in the Funds Enterprise. Additionally, we have suggested an "Ideal Order" for your planning purposes, however, it is not required to follow these suggestions.
| Course | Credits | Title | Ideal Order | Additional Information |
|---|---|---|---|---|
| ACCT 3001 | 3 | Introduction to Management Accounting | Complete Prior to Joining CFE | Undergraduate Core Requirement |
| FINA 3001 | 3 | Finance Fundamentals | Complete Prior to Joining CFE | Undergraduate Core Requirement, Immersion Core Course |
| ACCT 5101 | 4 | Intermediate Accounting I | Complete Prior to Joining CFE | Finance Major Core Requirement |
| FINA 4121 | 2 | Financial Markets and Interest Rates | Complete Prior to Joining CFE | Finance Major Core Requirement |
| FINA 4221 | 2 | Principles of Corporate Finance | Complete Prior to Joining CFE | Finance Major Core Requirement |
| FINA 4321 | 2 | Portfolio Management and Performance Evaluation | Complete While in CFE (2nd Semester) | Finance Major Core Requirement |
| FINA 5322 | 2 | Financial Modeling | Complete While in CFE (1st Semester) | Replaces FINA 4422, Registration Permission Granted to Admitted CFE Students |
| FINA 5323 | 2 | Advanced Financial Modeling | Complete While in CFE (2nd Semester) | Registration Permission Granted to Admitted CFE Students |
FINA 6920 | 2 | Topics in Finance: ESG for Investors and the Economy | Complete while in CFE (1st semester) | Finance Major Elective |
Program Curriculum
Students admitted to the CFE will be granted permission to register for the corresponding course, depending on their placement with the fixed income or growth fund. As the Funds Enterprise is a one year commitment, students should register for the corresponding course for both the spring and fall semester, earning a total of 8 credits (4 credits each semester). Of the 8 credits total for the enterprise experience, 4 will count toward the finance major.
| Course | Credits | Title | Additional Information |
|---|---|---|---|
| BA 4501 | 4 | Carlson Funds Enterprise: Growth | Registration Permission Granted to Admitted CFE Students |
| BA 4502 | 4 | Carlson Funds Enterprise: Fixed Income | Registration Permission Granted to Admitted CFE Students |
Focus Areas Include:
- Discussing the economy, the markets and their impact on the portfolio
- Monitoring the fund's existing holdings
- Researching asset classes to make buy/sell recommendations according to investment guidelines
- Presenting portfolio recommendations to the Investment Oversight Committee, a panel of industry professionals and faculty advisers
- Overseeing all operational aspects of their respective fund, including portfolio management, marketing, client relations, media relations and performance reporting
Other Suggested Courses
| Course | Credits | Title | Additional Information |
|---|---|---|---|
| IBUS 4125 | 2 | Global Banking Post-Financial Crisis in Europe | Fulfills International Experience |
| ACCT 5102 | 4 | Intermediate Accounting II | |
| FINA 4522 | 2 | Options and Derivatives I | Finance Major Core Requirement |
| BLAW 3058 | 4 | The Law of Contracts and Agency | |
| ACCT 5160 | 2 | Financial Statement Analysis | Finance Major Elective |
| FINA 4242W | 4 | CAPSTONE: Corporate Investment Decisions | Finance Major Capstone Elective |
| FINA 4529 | 2 | CAPSTONE: Derivatives II | Finance Major Capstone Elective |
| ACCT 5180 | 2 | Consolidations and Advanced Reporting |
The Carlson Funds Enterprise collects applications in November for the upcoming year (spring semester and fall semester). Visit CFE open house events during the fall semester to meet our Managing Director and speak with current students to gain a full understanding of CFE and explore if it is a good fit for you and your goals. Learn more about upcoming events by looking at our events page. Interested students are encouraged to apply bellow. All applicants will be interviewed and notified of a decision before the end of the fall semester.
Beginning Spring 2025, undergraduate students must complete the CFA Investment Foundation Certificate in order to participate in the Carlson Funds Enterprise. This is a pilot program and it is free for UMN students. Use the registration link below, sign up, and enter your UMN email to receive the code that will eliminate the need for payment.
2024 Deadlines:
Register by October 31st
Complete by December 20th
Application Deadline: Friday, November 29th, 2024
Acceptance Notifications: Friday, December 6th, 2024
After November 29th: Rolling admission based on space. Email Olivia at to inquire[email protected]
CARLSON FUNDS ENTERPRISE APPLICATION
Application Documents Include:
- Cover Letter (one page) addressing: your interest in joining the CFE, how the CFE would contribute to your career plans, and your ability to meet the time commitment and participation requirements (2 semesters, 15-20 hours/week, some level of work during school breaks/summer).
- DEI Statement (250 words) addressing: what you have done to support diversity, equity, and inclusion at the Carlson School.
- Resume
- Unofficial Transcript
- Proof of registration for CFA Investment Foundations Certificate
Participation Requirements
All students are expected to actively participate in each class during the term - all portfolio decisions are made in a group setting, and every student analyst needs to come prepared to discuss the markets and the companies being researched. Expect a significant non-classroom workload.
Unlike Carlson’s project-based Enterprise Programs, the CFE is a year round commitment. Students are responsible for portfolio management activities on an ongoing basis, including during breaks and summer. The Financial Markets do not take breaks, and our clients expect and deserve vigilance. At the same time, we recognize the importance of other activities including internships and global experiences. We know everyone needs to recharge and refresh. That’s why we employ a team-based approach to research and portfolio management. It is each team’s responsibility to ensure that all companies are covered, and that monthly performance reports are produced and distributed. We encourage students to work remotely when needed, and collaborate actively with their teams even when traveling. That’s part of the real-world experience!
Ethics in Practice
The Carlson Funds Enterprise embraces the notion that businesses which do well over the long term behave ethically in the short term. While it can be a challenge to draw a straight line from the business’s core values to its long-term performance, we encourage students to explore these topics in a disciplined, thoughtful way. Prior to starting the programs, all students are required to complete specific modules covering these topics through the CFA Society and Principals of Responsible Investing (PRI).