University of Florida announces launch of Student-Managed Equity Hedge Fund, providing hands-on learning opportunity for business students
GAINESVILLE, Fla. – The University of Florida Warrington College of Business is pleased to announce the newly-created Caimanes Student-Managed Equity Hedge Fund, which will enable students to develop real-world experience administering a long/short equity investment strategy. The learning opportunity is made possible through a generous gift from Steven A. Cohen, founder and CEO of Point72 and owner of the New York Mets.
The Caimanes Student-Managed Equity Hedge Fund offers undergraduate students a hands-on learning experience that parallels the work being done at investment firms, complementing the existing Gator Student Investment Fund which focuses on long-only equity investments. It represents a significant enhancement to the undergraduate finance program at UF, providing business students with the skills and experiences to compete with the best finance programs in the nation.
“We are thrilled to launch the Caimanes Student-Managed Equity Hedge Fund, providing our students with invaluable real-world investment experience,” said Saby Mitra, Warrington College of Business Dean. “This student-run fund allows our students to gain vital skills in portfolio management, trading strategies, derivatives and more that top employers demand. Experiences like the Caimanes Fund are a cornerstone of a UF Warrington education and ensure our graduates are ready to hit the ground running.”
The Caimanes Student-Managed Equity Hedge Fund is spearheaded by Clinical Assistant Professor and former hedge fund manager Eddie Sanchez, who recognized an opportunity to fill a gap in experiential learning opportunities for undergraduate finance students. According to Sanchez, the student-managed hedge fund will teach students about self-discipline, attention to detail, professionalism, integrity and time management between their classes and fund participation as well as analytical, technical, leadership and communication skills that will aid students once they enter the workforce.
“I want to provide our students with the opportunity to learn a portfolio of skills to best prepare them for a career in finance,” Sanchez said. “The students in the fund can participate in one of only a handful of long/short funds in American universities and colleges. They will have the opportunity to learn from a former hedge fund manager and have access to invest capital in a manner different from the majority of student-managed investment funds.”
Over the next academic year, Sanchez will work with the fund’s student executive board to review applications for incoming analysts. Students selected for fund management roles will perform fundamental analysis of S&P sector companies and provide recommendations to the fund’s advisory board of faculty and alumni on what positions they should take, Sanchez said.
Like the Gator Student Investment Fund, a portion of the earnings from the Caimanes Student-Managed Equity Hedge Fund will be used to support scholarships for first-generation UF students. The remaining earnings will be used to support external activities related to the fund.
