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Babson College Fund

Babson College Fund. Rick Spillane, CFA November 5, 2014. Presentation Outline. 1. My Background 2. BCF 2014/2015 3. Investment Philosophy 4. Recruiting Strategy 5. Q+A. RPI, Chemical Engineer; Harvard MBA Eaton Vance Management, 1977-1987 Analyst and Portfolio Manager

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Babson College Fund

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  1. Babson College Fund Rick Spillane, CFA November 5, 2014

  2. Presentation Outline • 1. My Background • 2. BCF 2014/2015 • 3. Investment Philosophy • 4. Recruiting Strategy • 5. Q+A

  3. RPI, Chemical Engineer; Harvard MBA Eaton Vance Management, 1977-1987 Analyst and Portfolio Manager Fidelity Investments, 1988-2007 Analyst and Portfolio Manager Director of Research Chief Investment Officer (US and Europe) Head of Strategic Advisers (Fidelity’s RIA) BABSON FACULTY 2007-PRESENT My background

  4. What is BCF? • BCF runs a portion of the Babson Endowment • 23 Students (undergrads and MBA’s) • The objective is to beat the S+P500 • Long/ short portfolio of Equities • Fully invested (market timing not allowed) • Heavy Focus on investment analysis (stock picking) • MEETINGS ARE MONDAY NIGHTS 6:30 TO 9:00 PM • 6:30-7:30 Coaching session with Exec in Residence • 7:30-9:00 Portfolio overview and Stock Pitches • One Friday seminar per semester

  5. Executives in Residence • Warren Johnson, CFA • Hugh Crowther • Jim Spencer, CFA • Rick Mace • Charles Mangum • Chris Stix • Mike Dunn • PratimaAbichandani • Steve Petersen • Bill Ebsworth

  6. Investment Philosphy Market Timing High Style Timing Size Timing Impact On Return Sector Selection Stock Selection Low Probability Of Success Low High

  7. Annual data from 1986 through 2008

  8. Sectors • Executive Portfolio Managers • Consumer • Basic Materials/Energy • Industrials • Healthcare • Utilities/Telecom • Technology • Financials • Quantitative/Risk Management

  9. What do you do? • Follow your sector closely • Buy and sell stocks in your sector • Work in a team of 1-3 other managers • Write 3 research reports per semester • Write a Semester Report/Sector Overview

  10. Visits/ Guest Speakers • Teams met with a counterpart at Fidelity this fall • Guest speakers at the meetings. In the last year the following have been guest speakers • Fidelity CIO and Director of Research • Hedge Fund managers (3) • President of Northfield • Fed official, former BCF student • Strategist from BNY Mellon

  11. Why you should do this • You will learn a lot about fund management and stock analysis • You are investing REAL MONEY • You will work hard, but learn a lot • This is as close to real world investment management as possible • You earn class credits for two semesters • Enhanced Job Prospects in the Investment Management Industry

  12. Recruiting Approach • Designed to even out the number of students on the fund during the year so everyone does not stop and start at the same time • Fall: recruit 2 year MBA’s, Junior Undergrads with a December graduation date, Evening MBA’s • Spring: Junior Undergrads with a May graduation date and Evening MBA’s • Summer: One Year MBA’s

  13. Key dates • Fall/Winter • Info session November 5th • Applications NOON November 21st • Interviews December 3, 2014

  14. Application Process • Application on BCF Website • http://cutler.babson.edu/babsoncollegefund/BCFApply.aspx • Send to Karl Honerlaw by Friday November 21 at noon. • Interviews on Wednesday, December 3rd • You start immediately • NOTE: You must take or have taken FIN 7503 (Equities) if you are an MBA student!!

  15. Questions???

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