This is the second issue of the new LSMIF newsletter. Please share with your friends and family and message in the Discord to participate and share a story!
Current News and Affairs:
BAE Systems takes in record order flows on back of Ukraine war; UK defence contractor reports 9% increase in sales ‘as government replenish stock… and support allies’ – The FTSE 100 group, which builds everything from Eurofighter Typhoon jets to nuclear submarines and combat vehicles, said it took in a record £37bn in new orders, propelling its order backlog to £58.9bn.
Rolls Royce looks promising! RR’s latest profits shows signs of improvement with “materially higher profit, cash flows, and returns”
Inflation Predictions: predicted to return to 2% by Autumn , Citigroup forecasts – Rapid falls in gas prices give government hope of solving some of its biggest economic challenges!
Russia and China cosy up… – Both vow to strengthen ties despite international ‘pressure’; this is worrying considering the weak position of the Russian economy teaming up with the rising superpower China
UK housing downturns tend to live long in our memories; is stagnation worse though? With higher borrowing costs and inflation, and decades of tighter mortgage lending, the UK property market faces the prospect of freezing to a standstill…
US stocks fluctuate as investors assess rate risk talk – US markets seemed to retaliate at the prospect of favoured higher rises in terms of point increases in efforts to battle on-going inflation.
Fund News:
First round of this year’s ERR’s were handed in (by the majority) yesterday… Management and Senior Analysts look forward to reading and marking these in the lead up to our rebalancing…
Again, please make sure this is handed in ASAP as we are now moving forward to actually using these reports for the fund’s benefit!
Competitions! The fund is actively involved in the SMIF and Southeastern Hedge Fund competitions, with teams honing down on their strategy and individual picks in the coming weeks!
Again, thank you for your participation and attention.
On the 30th of November 2022, the first face to face investment committee was held since lockdown. We were pleased to see over 35 students and board of advisors that attended the event.
Matteo Di Rossi CEO of LSMIF started the presentation by mentioning his future plans for the fund. He stated that in the past there has been some difficulties to manage the fund due to Covid-19, which has made the progress of P/L slower, therefore his new plans consist of active involvement of all members, creating new roles to better manage the fund and its progression. Also mentioned there will be a democratic system in the future which will allow other members to give their feedback. Carrying on he stated the areas for improvement which he believes are critical for the growth of the fund, recruitment of members in other schools in the university to grow popularity, have a strong social media presence by being more active on all the digital platforms and by adding a key role of Chief Marketing Officer (CMO) to the fund.
This session also included the portfolio asset allocation of the fund and which investments have been made, we had different members analysing the investments, and what shall be done for that stock. Some of the stocks that were discussed in this session were Ashtead Group Plc which accounts of 12% of the portfolio, Investec Plc which accounts of 8%, Beazley Plc which accounts of 13%.
Furthermore, we had a few words from our board of advisors. They commented on the presentation and gave a few tips for the future. David Spokes who is the Divisional director of Brewin Dolphin in Lincoln mentioned that the fund is performing well even though compared to FTSE 100 was underperformed, and the reason the he stated it was held up by energy and oil prices. However, he did comment on the fund’s cash holdings which are over 50%, he mentioned that just by being in the market is better that leaving large amounts of cash in the fund. For example, if £100 were invested in 1950 they would be equivalent to £184,000 in 2016. Mr. Howard Gannaway who is a financial expert and an advisor to LIBS viewed the large cash holdings of the fund as positive and mentioned‘Having large amount of cash implies that the fund is positive on new opportunities coming along’, also being impressed with the funds progress from where it started in 2015.
Overall, the event was a great success, everyone enjoyed the session the board of advisors were pleased with the progress made by the fund and the future plans set by the CEO. That is all for this week, make sure follow our twitter https://twitter.com/LSMIF_ , and subscribe to our weekly newsletter for the progression of the fundhttps://www.getrevue.co/profile/lsmif_
LIBS LSMIF are Winners at the SMIFUK22 – 1st Prize Investment Competition supported by HSBC Asset Management.
The UK’s First Student-Managed Investment Fund Conference
Student managed investment funds (SMIFs) are big business in the US, often with many millions of dollars of funds under management. SMIFs are an increasingly popular feature of UK universities but until now the only conferences have been in the US. This year it was held at the University of York and with partner Griff Investment Fund.
What the Chief Investment Officer of the LSMIF Harry Mapus-Smith said about the win
“We are thrilled to have won this competition. LSMIF tries to continuously detect and research trends in the equity markets, therefore, it was possible for us to use our experience and effectively put together a portfolio that factors in the many uncertainties of the current market. To win a competition against students from some of the most prestigious universities in the country exemplifies the ability of our senior management team and the fund as a whole. “
LIBS Associate Professor / Programme Leader – Hao Quach
“I am delighted that the team have won the prestigious HSBC competition where students from across UK universities competed to demonstrate key practical employability skills. This means we have done it right for students with the LSMIF approach.”
Third International Student Conference an Overwhelming Success!
On Wednesday 12th January, the third International Student Conference organised by the Lincoln Student Managed Investment Fund, (LSMIF) and the School of Banking and Finance at the National Economics University, (NEU), in Vietnam was held successfully to much acclaim.
With 196 student and staff participating from the University of Lincoln and the NEU, the conference saw five presentations on the theme “Investment Opportunities for the Future” with a focus on topics such as economic policies and stock markets, GenZ investments and Blockchain. Students were keen to be involved, discussing topics in-depth and demonstrating insightful knowledge about new investment trends, popular amongst the younger generation.
Dr Hao Quach from the Lincoln International Business School commented,
“I am delighted that the third conference has been successful, particularly as it’s so clear to see our students benefitting from the experience, collaborating internationally on areas of mutual interest. My aim is to evolve this annual conference series from beyond a purely research focus to become a wider forum in which students from both institutions can learn from each other in terms of culture, heritage and tradition”
NEU’s Professor Hue Nguyen added,
“I am very happy that our students have had an opportunity to exchange academic knowledge with students from the LSMIF. This activity is part of the International Scientific Conference series, the second of which was held successfully in 2021. Although the conference was moved to Zoom due to Covid and there were some inevitable technical difficulties, the heat and effectiveness of the conference remained the same. With positive feedback from the students, there will surely be other exchange activities with LSMIF at the University of Lincoln. Stay tuned and don’t miss it!”
Lincoln International Business School MSc Accounting and Finance student, Connor Hobbins, has successfully secured a professional practice work placement at Handelsbanken(opens in a new tab).
Connor, whose interest in finance started during his undergraduate degree in Mathematics at the University of Lincoln, told us about why he chose Lincoln and tips for gaining a placement interview.
“I chose to study at Lincoln due to it being relatively close to my home and, as I had barely been to the city before, it still felt new” says Connor.
“I am really glad that I did” he added. “My time at University of Lincoln was the best time of my life so far and if you get fully involved with everything and fully throw yourself into the experience, it is great.”
Connor decided to study maths at undergraduate after studying the subject at GCSE and A-level. During his second year at university, he realised that he wanted to go into finance.
“Going into third year I knew that I wanted to choose a finance dissertation, which worked out really well in helping me choose the next steps.”
After graduation, Connor started to look for summer internships or placement positions to undertake before returning to study a Master’s degree.
“After my BSc, I started applying for summer internship/placement positions as my plan was to take a year out before doing a Master’s course and that is when I first applied for Handelsbanken along with a few other companies.
“I got through the initial stages and was ready for the assessment centre, however, this got cancelled due to the Covid-19 pandemic and replaced by a telephone interview. I got through that stage and then the next and final step was a branch manager interview, but unfortunately the whole internship programme ultimately got cancelled due to Covid.”
With the current situation unpredictable, Connor started looking at his options and decided to study the MSc Accountancy and Finance(opens in a new tab) with professional practice year instead.
Connor Hobbins
“The thing that made me choose the course was that it was a finance-based course with a professional practice option, where I could do a placement year. I thought this was the right thing to do, to give me some flexibility, gain some experience in a financial area with a placement that I could source myself and then write my dissertation/final project on something to do with this placement – it was ideal really.
“The Accounting and Finance course was what I hoped it would be, maybe a bit wordy at times, but altogether great. I feel like I got a really good hold on most modules and I would really recommend the course for people that are not quite set on a certain financial area.
“There are modules based on Accounting that go really in depth with the accounting side of finance, while there are other modules that evaluate how a company runs both financially and internally, how financial markets work and then optional modules like investment banking, it all links together.
“For the range it gives in a year it is a challenging course but I personally have learnt a lot from it and it has given me a better idea for what I want to do in the future.”
During his Master’s year, Connor discovered that the Business School had a student-managed investment fund (LSMIF).
“I am really interested in the stock markets and the idea of investing so I joined LSMIF at the start of the year. I put a lot of time and effort into the fund, in doing the tasks but then also doing background reading into what I was actually doing and applying that, which actually helped me out with my course a lot in the end.
“I didn’t think I would enjoy it as much as I did but I ended up putting together some decent reports for the fund and one of my investment recommendations got actioned in my first couple of months which was pretty cool.
“I would highly recommend it to anyone in the University, even if they have just a slight interest in financial markets and investing as my only regret is that I didn’t hear about it until my Master’s year!”
Whilst undertaking the course, Connor’s attention turned to securing a placement for his professional practice year.
“So, during this last year my main task has been to source a placement, which during Covid was really hard since not that many firms were hiring and there were two or three years of students applying.
“During this time, I was still in contact with Handelsbanken from the previous year but made sure to ask whether they had a year-long placement instead of the normal eight week internship that they ran. After interviews for other places, I got a call from a branch at Handelsbanken asking if I could do an interview the next day which was a bit daunting, so I did the interview and it went really well and then got an offer the next week which was unbelievable!”
Work placements can be invaluable due to the experience and skills you learn putting theory into practice. At his placement, Connor wants to really understand the different roles within the organisation.
Connor Hobbins
“The main thing I want to gain from this is to find out exactly what every role entails, whether it be the role that I am doing, managerial jobs on the corporate or individual (personal banking) sides of things, or in roles that are in support functions, like the finance department. To me it is all about gaining experience and knowledge, so I am just going to try get stuck into as many different things as possible and then hopefully know exactly where I want to move into after the placement year and what career path I want after that point.”
After securing a year long placement, Connor has this advice for those also looking to secure a placement:
“The main tip I would give is to just be yourself and speak to the interviewer like you would to anybody else, after all, it is really just a conversation. If you can make it like a normal conversation you will be a lot more relaxed and come across happier and a lot more confident.
“Before my last couple of interviews I was really nervous, with stacks of notes on what to say if I got asked a certain question and it just didn’t help at all, I sounded like a robot reading off a script.
“Realistically you just need to know the company, know the job role and as strange as it sounds, know yourself since the interview is ultimately about you. After I started thinking like that, the process just became so much easier and I came across so much more confident whilst having a normal talk and laugh with the interviewer.”
Connor believes that his course and extra-currircular activies helped aid him during the placement application process. He said:
“One of the main thing that I learned is time-management. So all of my interviews were around my deadlines and there was so much to do in a really short amount of time so I had to really think about what I wanted to prioritise, whilst also giving myself some time to relax.
“With interviews, the only thing that helped me out was just practice, looking at unsuccessful interviews as practice for my next one and improving the method I approached it.”
As part of the University of Lincoln Summer Festival of Learning, the Lincoln Student Managed Investment Fund (LSMIF) delivered an inspirational session entitled ‘Get Rich Quick as a Student: A guide to making money through investment’
On the 23rd June, members of the LSMIF leadership team led the three and a half hour experience, providing a snapshot of an investment process whilst sharing top tips for investing new comers. All the latest market trends were also covered, including ESG and Cryptocurrencies which, whilst being fresh and incredibly popular, are also dangerously volatile. With questions encouraged, there was the opportunity for participants from across the University to gain a level of understanding depending on individual experience.
At the end of the event, certificates were awarded to commemorate LSMIF members’ end of year ‘graduation’ whilst everyone who attended received a participation certificate. James Stenson, President of the LSMIF, is also pictured proudly holding their PQ Magazine Student Body of the Year trophy.
James comments: “Our presentation and guide on investment was a way to expand and enhance the knowledge of our current LSMIF cohort, whilst also inviting the greater University community to attend to further their insight and development into the world of investments.
“We covered a wide variety of topics, including how to start investing as a student and what type of accounts should be opened to facilitate this. My colleagues went into depth on how to screen equities and the future markets including cryptocurrencies. The event was a great success and the feedback received has been very positive as a whole.
“We hope everyone enjoyed the event and we look forward to putting on more events in the future. LSMIF wants to provide a financial education beyond academia to all students interested.”
Balys Elsbergas, a second year Business and Finance student from the EU, praised the cohesiveness of the Summer Festival: “..it has brought together like minded proactive students aiming to shape their future, learning to invest for a secure pension, through ISA stocks and shares and cryptocurrency. We discussed ways to mitigate carbon emissions for a greener environment. The summer festival helps us explore our goals for the future. I learned many new techniques for investment and had a great day”.
Jordan Cooling, Financial Analyst for LSMIF, reflected on his time within the society, adding: “Being part of LSMIF was one of my greatest experiences at university, it gives you the opportunity to learn new skills you wouldn’t otherwise have been exposed to and is great way to boost your confidence and make you more employable. This workshop has equipped me with more knowledge and expanded my interests.”
Dr Hao Quach, from the Department of Accountancy, Finance and Economics praised participants, commenting: “I am delighted to see my students who have developed their professional skills to a high standard now inspiring new students via their session as part of the Festival of Learning. Many of the LSMIF members have now received a certificate of completion and will graduate from the University this summer.
“I firmly believe that their wide and varied experiences available to them as part of the LSMIF will have been an asset, equipping them well as they seek further education or employment.”
Lincoln International Business School is celebrating student success after scooping two awards at the prestigious PQ Awards ceremony.
The annual PQ Awards are organised by renown accountancy trade journal, PQ Magazine, with Editor Graham Hambly hosting the online ceremony on the 29th April.
The Lincoln Student Managed Investment Fund (LSMIF) were delighted to accept the Student Body of the Year award with President James Stenson accepting the accolade on behalf of the members, while Emma Mellor, an Accountancy and Finance alumna, was named Graduate of the Year in recognition of her outstanding academic ability and extra-curricular achievements.
With just five student managed investment funds existing within the UK, the Lincoln Fund was established at the University of Lincoln by staff and students six years ago. It is designed and operated just like any investment management company with a trading account and investment of shares in companies listed on the London Stock Exchange.
Dr Hao Quach
Associate Professor, Hao Quach, oversees the LSMIF and commented: “The interest in the fund has grown quickly, recruiting over 100 student members this academic year alone, all holding different roles from analyst to CEO.
“It is an honour to learn from members that the LSMIF has been an important factor in choosing to study at Lincoln as it offers a valuable extra-curricular learning experience with members accruing skills that make them highly employable graduates.
“In addition, the LSMIF has been pioneering international collaborations including a student conference with peers in Vietnam and a fundraising campaign to assist victims of floods abroad.
“My thanks go to LIBS staff for their never-ending support, James Stenson for being such a talented CEO, as well as donors and advisors of the Fund, Brewin Dolphin and MBS.”
Third year BSc (Hons) Banking and Finance student and LSMIF President James Stenson, welcomed the award and thanked members for their hard work and dedication, particularly over the last challenging year: “As President I would like to thank all our Analysts, Senior Analysts, Management and Board of Advisors who donate their free time to make this fund the absolute best student fund it can be.
“We look forward to the future and have great plans, hopes and expectations for the Lincoln Student Managed Investment Fund for 2022 and beyond. Thank you to Graham Hambly and the whole PQ Magazine team for a wonderful evening.”
LSMIF (taken 2019)
The Graduate of the Year award went to Emma Mellor who achieved a first-class BA (Hons) Accountancy and Finance degree in 2020 and whose educational journey saw various extra-curricular accolades.
James Wright, Senior Lecturer in Accountancy and Finance, nominated Emma for her award describing her as “… a highly driven, committed, and hard-working individual who, no matter the situation, gives her all.
“Whilst studying and graduating from the University of Lincoln with a first class degree in 2020, Emma balanced her family, children, commuting and working commitments around her studies which I commend her for.”
Emma Mellor
Emma added: “I was pleasantly surprised to find out that I had been nominated and shortlisted but I honestly couldn’t quite believe I had won. I had a really good team of people around me throughout the degree and I couldn’t have completed half of the stuff I did without that solid support network.”
Head of Accountancy, Finance and Economics Department, Siobhan Goggin, said of the awards: “Acknowledging and celebrating student success is important and my thanks go to the team for submitting four nominations, all of which were shortlisted, with two winning awards.
“The LSMIF is a student body of which we are very proud and as it continues to thrive is deservedly garnering national and international acclaim for its achievements.
“Our Graduate of the Year, Emma, demonstrated a commendable commitment to her studies as well as being an active member of our student community with notable achievements throughout her programme.”
The Lincoln Student Managed Investment Fund (LSMIF), in collaboration with the Department of Accountancy, Finance and Economics, held their second international student conference on Friday 16th April.
Over 50 students and staff from both the University of Lincoln and the National Economics University in Vietnam (NEU), were present at the virtual event with presentations delivered by students at both institutions. The focus on capital market updates in lieu of a global pandemic, along with highlighting opportunities for investors as seen from both domestic and a foreign investor’s eye, created a relevant and engaging agenda.
As part of their dialogue, students also looked beyond the current restrictions to a time when international travel restrictions are lifted and interactions can be face-to-face once again with further conferences and collaborations planned. Do Minh Chau, an NEU second year International Business Management student, is eager to participate in these developments: “I really hope that we can continue this chain of conferences as there are still many more topics and in-depth discussions to cover. Through these exchange activities, we really want to introduce more about Vietnam’s investment environment, and also to be wowed with the UK’s market.”
Dr Hao Quach
Lincoln International Business School Associate Professor, Hao Quach, commented: “I am delighted that the second conference went so well. It is clear that students from both countries found this to be a very beneficial learning tool. This conference series is in line with our international engagement for our students and also for our future students from Vietnam. These semi-annual conferences offer opportunities for students to conduct and present their research on the Vietnam and UK economy and markets for mutual benefits. This activity expands our educational partnership with Vietnam universities and broadens also the LSMIF’s operation. I am happy to see growing interests in both the LSMIF and the conferences.”
James Stenson, President of the LSMIF, added: “We are very grateful for the opportunity to learn from one another and it was an absolute pleasure to learn more about Vietnam and how the markets differ and operate. It was an eye-opening experience and we look forward to further collaboration. We hope NEU learned from us and found the conference as enlightening as we found their presentations and discussions. LSMIF look forward to helping the NEU setting up their own Student Managed Investment Fund and hope that our shared experiences will help their progress and further their knowledge.”
Capturing the engagement felt by participants and the benefits of this extra-curricular learning opportunity, NEU second year Financial Investment student, Bui Phuong Dzung, summarised: “…as a student majoring in Financial Investment, from the first time I attended the Lincoln webinar as a listener, I was excited and absorbed by the content presented throughout the session from both sides. For that reason, at the second seminar, I seized the opportunity to become a content creator and presenter. This process has motivated me to cooperate enthusiastically with my team members to cautiously study the practical information related to my field, then confidently present the condensed and valuable knowledge to participants.”
NEU Associate Professor, Dr Nguyen Thi Minh Hue, Head of Securities Market Department, School of Banking and Finance,concurred adding: “…hopefully, students from the University of Lincoln also gained useful and interesting information about Vietnam securities market, an emerging market, but full of good investment opportunities for foreign investors like the LSMIF.”
The PQ Awards recognise excellence in accountancy. The awards are organised and selected by PQ Magazine(opens in a new tab), an award winning accountancy publication.
The awards Lincoln International Business School were shortlisted in are as follows:
Accounting, Finance and Economics Department as the Public Sector College of the Year
Emma Mellor and Saida Acugba for Accountancy Graduate of the Year
Catriona Hyde, Senior Lecturer in Accountancy and Finance, said:
“We are extremely proud to have been shortlisted for these prestigious awards which highlight not only the fantastic work being done within Accountancy, Finance and Economics at Lincoln International Business School but also the amazing contribution and engagement of our students.”
The winners will be announced at a virtual awards ceremony on Thursday 29th April starting at 7pm. Register your place on Eventbrite here(opens in a new tab).
