Student Managed Investment Funds: Experiences of a Fund at a UK University
Keith Anderson, Caroline Chaffer, Emad Elkhashen, and Jill Webb
University of York, School for Business and Society, UK
Volume 18: 2023, pp. 279-300; ABSTRACT
First founded in 1950, Student Managed Investment Funds (SMIFs) have spread widely
across the US and Canada with over 400 now documented. SMIFs have taken longer to develop
elsewhere. In Europe SMIFs are most popular in the UK with about 30 funds known to the authors.
This paper adds to the available literature by documenting the operation of UK SMIFs and details
the differences between these funds and typical North American SMIFs. In addition we describe and
evaluate the foundation and operations of the Griff Fund, run by students at a university in the North
of England, and one of the oldest funds in the UK. Our description of the Fund provides resources
and guidance for others who might seek to establish such a fund. Our evaluation considers the
strengths and benefits of student partnership and co-creation but also examines the challenges faced
through the lens of student equity and inclusion.
Keywords: investments, student-managed investment fund, students as partners, inclusion, equity
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