A student-run fund,
run like a real one.
The Trojan Student Managed Investment Fund gives USC Marshall Master of Science in Finance students hands-on experience managing a diversified, long-only portfolio across US equities, international equities, fixed income, and alternatives.
Fundamental research. Real committee decisions. Measured risk.
Every holding in the portfolio began as an analyst's memo — a thesis, a valuation, a risk map. Pitches are debated and voted on by the Investment Committee, with the Chief Risk Officer empowered to veto trades that breach Fund policy.
We operate as a long-only, multi-asset Fund with a 12–18 month horizon, paper-traded against the S&P 500. Our job isn't just to beat a benchmark — it's to build Marshall students into defensible, thoughtful investors.
Portfolio vs benchmark
Indexed to 100 at inception (Aug 13, 2025). Live NAV updates nightly from the SMIF Portfolio Tracker.
Where the Fund is invested
Sector weights for the long book. Cash is deliberately elevated while the Fund ramps positions in its first full year.
Hard limits, always.
- Position cap
- 5% of NAV
- Sector cap
- 25% of NAV
- Single trade cap
- 3% of NAV
- Cash floor
- 2% minimum
- Stop-loss alert
- −15% position
Eight teams, one committee.
Sector-led fundamental research across the S&P 500.
Developed + emerging markets coverage with FX overlay.
Investment grade credit, high yield, rates & sovereign debt.
Commodities, real assets, and hedge-fund-style exposures.
Factor modeling and portfolio analytics.
Global macro, econometrics, and thematic outlook.
Portfolio risk analytics, stress testing, compliance.
Data, tooling, and infrastructure — runs this site.
Weekly cadence, year-round research.
In-person Mondays at JFF 414; remote Thursdays on Zoom. General meetings, pitch presentations, and committee votes run on a continuous calendar.
Help steward the next chapter of the Fund.
The Fund is in its founding year. Formal recruiting launches Fall 2026. Until then, MSF students can join by reaching out directly to the Executive Committee.