Student Investment Fund
SIF Logo

The Student Investment Fund (SIF) comprises up to 12 students who manage over $3 million of the UCLA Anderson endowment through bottom-up security analyses. Through quarterly distributions to the UCLA Foundation, the SIF finances fellowship awards for Anderson students.

The SIF is a prestigious element of the Anderson experience that exposes students to situations they would encounter in a typical investment management firm. For the first six months, SIF Fellows collectively manage the fund. The equity portion is then divided equally among the Fellows and managed individually for the remaining six months. The fixed-income portfolio is managed as a group for the entire period. The Fellows visit at least  25 investment managers to learn about different investment philosophies and styles, as well as at least five current or prospective portfolio companies to conduct in-depth due diligence.

The SIF was created in 1987 as a result of the generosity and initiative of Bernard Johnson, president of Provident Investment Counsel. Provident pledged $50,000 per year over five years to start the fund. In 1989, Kayne Anderson Investment Management Co. contributed an additional $250,000. The Friends of the Student Investment Fund program was launched in 1993 and has brought in more than $250,000 in additional capital to date. Ed Shapiro (’90) initiated a Million-Dollar Challenge grant to support the SIF in honor of his 25th reunion in 2015. Haejin Baek (’90), Tim Sambado (’90) and Keith Webster (’91) have also made significant contributions to the fund.

 

SIF Portfolio Managers

 
Paul Ahn

Paul Ahn

Tyler Cantarano

Tyler Cantarano

Matthew Coleman

Matthew Coleman

Daniel Fotinich

Daniel Fotinich

Yuan Gao

Yuan Gao

Douglas Hanly

Douglas Hanly

Jonathan Rieck

Jonathan Rieck

Krishna Phanindra Vege

Krishna Phanindra Vege

Caroline Ward

Caroline Ward

Thomas Weber

Thomas Weber

Robert Whirty

Robert Whirty

James Wolf

James Wolf

 

Faculty Advisor

 
Bill Cockrum

William Cockrum

Adjunct Professor of Finance

Prior to joining the UCLA faculty, Bill Cockrum spent 25 years in financial services, initially as a marketer and last as CFO/CAO and one of the top senior officers at Becker Paribas Inc., a 3,000-employee investment banking firm. He teaches courses in entrepreneurial finance, leadership and business ethics, real-world challenges leaders face and investment management. He serves as a consultant in a variety of industries on issues such as organization structure, strategy, marketing, finance and administration.

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Application Process

 

Criteria used in the rigorous selection process include academic achievement and involvement, a demonstrated interest in investment management and proven ability to work effectively in a demanding team environment.

  • Stock Write-ups – Applicants produce a two-page stock write-up for two assigned companies, providing an overview of the business, investment thesis, analysis of risks and stock recommendations.
  • Personal Essay – The essay addresses how the candidate will contribute to the SIF, related personal experience and discussion of recent market events.
  • Company Presentation – Applicants deliver an in-depth five-minute presentation on a company of their choice and its valuation/prospects, and engage in a Q&A session with a student-led panel.
  • Final Interview – Professor Bill Cockrum, faculty advisor to the SIF, leads a panel interview, which is the final step of the selection process.
 

Investment Approach

 
  • Asset Allocation – The group begins the year with a collaborative report on the domestic and global economy, highlighting important secular and cyclical trends, and identifying potential valuation catalysts. This report is then used to create strategic and tactical asset allocation reflecting views on various asset classes and to set asset allocation weights for equities, fixed income and alternatives.
  • Universe of Stocks – The group develops an approved list of 100 to 120 stocks, with each member writing up 10 stocks to create the universe of secondary securities.
  • Portfolio Construction – The fixed-income and alternative assets are typically managed via mutual funds and ETFs, while the equity portion is managed through bottom-up security selection.
 

Portfolio Management

 

Ongoing monitoring of the portfolio is conducted on a day-to-day basis, with meetings held once a week to discuss market events and portfolio performance.

Additions to the approved list of securities must be presented to the group and vetted before they are added.

Portfolio guidelines mandate that no security be more than 7.5% of the portfolio at cost and no industry sector exceed more than 20% of the total fund value. The fixed-income asset class must maintain a minimum of 15% of the total value of the fund. The SIF’s bylaws include a 3% minimum allocation (for both educational and diversification purposes) of the following asset classes:

  • Equities: Domestic
  • Equities: Long-Term
  • Fixed Income (with no less than 2% of the fund’s market value allocated to each of the following fixed-income categories: corporate bonds, government securities, high-yield bonds, municipal bonds and structured products)
  • International
  • Emerging Markets
  • Alternatives
  • MLPs
  • REITs
  • Cash

Restricted securities include fixed-income securities having lower than a BBB rating, securities with insufficient liquidity and unmarketable securities.

The SIF Fellows meet weekly with Professor Cockrum and four practicing investment management professionals — Dave Carpenter, Shelby Notkin, Shawn Patt and Keith Webster — to discuss current market events and trends, portfolio performance and prospective trades.

The group produces a year-end report and presents it to faculty, SIF alumni and members of the investment community at the annual meeting.

 

Student Placements

 

All members of the classes of 2017 to 2020 have full-time employment in either investment management or investment banking.

Class of 2021 and Summer Placements

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Paul Ahn (’21)

Columbia Threadneedle

 

Tyler Cantarano (’21)

ClearBridge Investments

 

Matthew Coleman (’21)

Evercore

 

Daniel Fotinich (’21)

Citi

 

Yuan Gao (’21)

TCW

 

Douglas Hanly (’21)

Emerald Necklace Investments

 

Jonathan Rieck (’21)

Piper Sandler

 

Krishna Phanindra Vege (’21)

Welltower

 

Caroline Ward (’21)

Artisan Partners

 

Thomas Weber (’22)

BlackRock

 

Robert Whirty (’21)

Bank of America

 

James Wolf (’21)

Invesco US

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Class of 2020 Internship/Full-Time Placements

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Noah Damsky (’20)

LACERA

 

James Huebner (’20)

Citadel Global Equities

 

Zachary Lynch (’20)

First Pacific Advisors

 

Harold Packer (’20)

PIMCO Europe

 

Joon Park (’20)

Korea Investment Corporation

 

Evan Scott (’20)

Moelis & Company

 

Victoria Sikes (’20)

Capital Group

 

Lynn Wu (’20)

Intuit

 

Duanting Zhai (’20)

Fidelity International

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Class of 2019 and Full-Time Placements

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Richard Chiang (’19)

NWQ

 

Brian Crider (’19)

Thornburg

 

Addison DeVone (’19)

Lazard

 

Michael Duffy (’19)

Palm Tree

 

Hannah Greene (’19)

Capital Group

 

Raymond Mak (’19)

Payden & Rygel

 

Joshua Oynick (’19)

Califia Farms

 

Jay Sun (’19)

Eystra Capital

 

Yian Yu (’19)

Eystra Capital

 

Mark Zerlang (’19)

Moelis & Company

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Class of 2018 and Full-Time Placements

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Steve Bivona (’18)

Mission Capital Advisors

 

Joseph Chiu (’18)

TCW

 

Jarrid Johnston (’18)

Capital Group

 

Alexander Kua (’18)

Oaktree Capital

 

David Levine (’18)

MidOcean Partners

 

Spenser May (’18)

Causeway Capital

 

Phil Meng, CFA (’18)

BioVega Capital

 

Bahman Mirzaee (’18)

Vanguard

 

Justin Phillips (’18)

Capital Group

 

Francisco Valdivia (’18)

Jones Lang LaSalle

 

Timothy Van Harmelen (’18)

FBB Capital Partners

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Class of 2017 and Full-Time Placements

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John Bay (’17)

UBS

 

Nicholas Bender (’17)

TCW

 

Gloria Fan (’17)

Qualcomm

 

John Heidenreich (’17)

Rothschild

 

Sam Kendrick (’17)

Whittier

 

Paige Kolesar (’17)

Dimensional Fund Advisors

 

Charlie McMahon (’17)

Oaktree Capital

 

Samuel Silverson (’17)

Oppenheimer Funds

 

Darius Wilsey (’17)

Green Street Advisors

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Contact Us

 

UCLA Anderson
110 Westwood Plaza, Los Angeles, CA 90095
For more information, please contact us at esctr@anderson.ucla.edu.