Rebsamen investment fund integration in finance education

Abstract

Purpose The purpose of this paper is to describe lessons learned from integrating student-managed investment funds (SMIFs) in finance education systems based on the case of the Raymond Rebsamen Investment Fund at the Sam M. Walton College of Business, University of Arkansas. Design/methodology/approach The paper has three main parts. First, it describes how the Rebsamen Fund operates as an integral part of undergraduate and graduate finance education at the Walton College. Second, it explains how the Fund spawned creation of sister funds, an institute, a 62-seat trading center, and coordinates with other agencies and stakeholders. Third, it lists strengths, weaknesses, opportunities and threats facing future SMIF integration into finance education. Findings The use of innovative experiential learning solutions like SMIFs bridging theory and practice can be enhanced by integrating them into effective systems of finance education. Practical implications Lessons learned include benefits of SMIF management by class, licensing and professional certification, trading centers, use of SMIF finances to support other components of education, proliferation of SMIFs, SMIF stimulation of academic units like centers/institutes, SMIF facilitation of collaboration, importance of tying SMIFs to student finance clubs, coordination of industry speaker visits between SMIF classes and clubs, and use of SMIFs in addressing cutting-edge challenges. Originality/value This paper discusses how SMIFs can be integrated in finance education.