Tuesday November 24, 2009

CNBC Reports on Flyer Fund

CNBC reported Wednesday on the University of Dayton's Flyer Fund, a student-managed investment fund that recently received an additional $2 million of the University's endowment to manage.

The national business news channel CNBC aired reports at 11:50 a.m. and 2:30 p.m. Wednesday, Nov. 25, about the University of Dayton's Flyer Investments Team.

CNBC reporter Courtney Reagan visited campus last week and taped a meeting of the investment team, which manages nearly $9 million of the University's endowment. The reporter also sat down for interviews with several students on the team, Davis Center for Portfolio Management Director David Sauer and University Trustee Richard Davis.

"It's really not everyday that 21-year-olds get a chance to manage nearly $11 million, unless you're a student at the University of Dayton's Davis Center for Portfolio Management," Reagan said in her report. "A select group of 15 undergrads here are charged with managing a real $10.6 million portion of the university's endowment. And they're pretty good at it."

The story reported on the outstanding performance of the student-managed Flyer Fund and the recent approval by the University's board of trustees' investment committee to add $2 million to the fund, bringing the total to $10.5 million.

"The student fund is doing much better than our outside managers consistently over the last 10-year period of time," Davis said in the report.

The student fund has also beaten the S&P 500 benchmark at the one-, three-, five- and 10-year marks.

The fund is one of the 15 largest investment funds managed by undergraduate students in the country.

For more information, contact Meagan Pant, assistant director of media relations, at 937-229-3256 or mpant1@udayton.edu.