Bryant Approves $500K Investment to Launch Archway Fund Fixed Income Portfolio
SMITHFIELD, RI – Bryant’s Board of Trustees has approved a $500,000 investment in the new Fixed Income Portfolio within the student-managed Archway Investment Fund. The fixed income sequence complements the successful equity portfolio that has grown to $1.25 million under management from an initial investment of $200,000 when the Archway Investment fund (AIF) was established in 2005. The Archway Fund’s combined equity and fixed income assets are valued at $1.75 million as of Dec.11.
“By expanding course offerings in fixed income, and providing portfolio management experience to students, Bryant hopes to make its graduates more attractive to potential employers.”
Professor Kevin Maloney joined the Bryant faculty in January 2017 to initiate the Bryant fixed income offering. He is an accomplished scholar and finance industry executive with more than 35 years of teaching and corporate leadership experience at prestigious institutions such as Dartmouth University’s Tuck School of Business, University of Pennsylvania, Putnam Investments, and Gottex Fund Management.
“The $100 trillion global fixed income market is larger than the size of the global equity market,” said Maloney. “Bond portfolios serve as cornerstones in the funding of pension funds, in insurance company balance sheets, and in retirement portfolios, but most people and the media tend to be more familiar with the movements of the stock market.”
The Archway Fund provides "valuable real-world experience."
The AIF equity portfolio management course sequence, led by Finance Professors Asli Ascioglu and Chris Goolgasian, is an immersive, experiential two-semester course available to Finance juniors and seniors. The first course in the sequence is Securities Analysis, where students conduct in-depth research and analysis on individual stocks in preparation for the live Portfolio Management course.
“This is valuable real-world experience,” said Professor Ascioglu. “Everything the students do is what they would do working for an asset management company managing a portfolio. This is an opportunity they can gain from very few schools.”
The Fixed Income curriculum is structured the same way—course work, research, and analysis first, followed by real-time investment management practice. The first course, Debt Securities, Derivatives and Investing, is focused on analysis of fixed income markets that informs the Archway Fixed Income Portfolio Management course.Fixed income assets include government bonds, corporate bonds, mortgages, asset-backed securities, closed-end funds, and exchange traded funds.
Competitive Advantage in the job market
“Bryant graduates have historically been successful in fixed income roles after graduation,” said Finance Department Chair Peter Nigro. “By expanding course offerings in fixed income, and providing portfolio management experience to students, Bryant hopes to make its graduates more attractive to potential employers.”
Alumnus Franco Castagliuolo ’97, a fixed income Portfolio Manager at Fidelity Investments and member of the Archway Investment Fund Fixed Income Advisory board attended the presentation. “I was impressed with the students’ knowledge, presentation skills, and their ability to think on their feet,” said Franco. “I asked some tough questions, and they gave thoughtful answers.”
Several students in the program’s first Portfolio Management class have already experienced positive results with employers.
“The Fixed Income Portfolio Management course gave me a deep understanding of fixed income investing that helped me in my recent internships and throughout the job interview process,” said Bryant senior Steven Page of Dover, MA. “It has definitely positioned me well for my new position as sales and trading analyst with BMO Capital Markets in New York City after I graduate.”
Anthony Norris ’18 of Holland, MI, credits the Archway Fixed Income program for his success securing an internship at Centerpoint Advisors, a wealth management firm in Needham, MA. “I have been given many unique responsibilities, including working side by side with portfolio managers,” he said.
“The fixed income classes quickly became my favorites, although they were some of the most challenging,” said Adam Badeau ’18 of Woonsocket, RI. “Explaining my knowledge and experience during recent interviews has set me apart from other candidates and impressed my interviewers.”
Badeau added, “I would recommend Bryant and the finance program, specifically fixed income, to anyone interested in this area of study. This University provides endless opportunity to any willing student,”
At a public presentation on Dec. 7, the Archway Fund Portfolio Management students presented their work to the Bryant community and made recommendations to the next class of portfolio managers starting in January 2018.
Follow the latest developments in the Archway Investment Fund at http://aif.bryant.edu.