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Baylor University's Student-Managed Investment Fund Provides $1 Million in Scholarships

Posted on: Friday, 27 February 2009, 14:02 CST

WACO, Texas, Feb. 27 /PRNewswire/ -- For the sixth straight year, the Baylor University Athletic Department has received a generous financial contribution from the Philip M. Dorr Alumni & Friends Endowed Investment Fund.

This year's gift of $130,000 was presented to the Athletic Department during a recent men's basketball home game. Over the last six years, the fund, which is one of the largest in the United States that is managed by students, has provided $1 million in support of scholarships for Baylor's 18-sport intercollegiate athletics program.

"We are grateful for the generous contribution from the Philip M. Dorr Alumni & Friends Endowed Investment Fund and its support of student-athlete scholarships," said director of Athletics Ian McCaw.

Established in 2001 with an endowment gift from alumnus Philip M. Dorr, the live equity portfolio is actively managed by select business students through a course led by Professors Brian Bruce and Brandon Troegle and operates from the state-of-the-art on-campus Southwest Securities Financial Markets Center. Through additional gifts and investments, the fund has a current market value of approximately $3.8 million. Distributions from the fund are directed to athletic scholarships for Baylor student-athletes who are business majors in good academic standing and to MBA students with an interest in investment management.

Since the Fund's inception in 2001, the student-managed portfolio has beaten its benchmark, the S&P 500, on average by about 1.4% per year. Likewise, it has created over 12% more wealth than its benchmark. This outperformance has also been accomplished with lower risk (as measured by beta and standard deviation) than the S&P 500.

"The investment fund allows us to engage students in active learning," said Terry Maness, dean of the Hankamer School of Business. "At the same time, it allows us to help support our business student athletes and MBA students."

CONTACT:

C.J. Jackson, Hankamer School of Business, 254-710-7628, Cynthia_Jackson@baylor.edu

Nick Joos, Baylor Athletics, 254-710-3043, Nicholas_joos@baylor.edu

This news release was issued on behalf of Newswise(TM). For more information, visit http://www.newswise.com.

SOURCE Baylor University

Source: PR Newswire

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