News

Saint Peter’s University Partners with Lord Abbett to Launch the University’s First Student Managed Investment Fund (SMIF)

Jersey City, N.J. – August 31, 2020 – Saint Peter’s University today announced a partnership with the investment management company, Lord Abbett, to support the launch of the University’s first Student Managed Investment Fund (SMIF). Students will have the opportunity to take stock market simulations to the next level by investing $50,000 in funding, which has been generously provided by Lord Abbett. The success of the investments will regularly be measured against performance benchmarks. In addition to the initial funding, Lord Abbett will also provide training, mentoring and career engagement opportunities for Saint Peter’s University students.

“At the Frank J. Guarini School of Business, we consistently seek new opportunities for our students to have valuable experiences that will help them develop necessary leadership and professional skills,” said Mary Kate Naatus, Ph.D., KPMG dean of the Frank J. Guarini School of Business at Saint Peter’s University. “The partnership with a respected asset manager such as Lord Abbett will not only provide new career opportunities for our students, it will also build the University’s brand and highlight our talented students and young professionals. Our department of economics and finance has developed a unique and robust academic experience, led by expert faculty.”

Through the partnership, Lord Abbett investment professionals will serve as guest expert speakers on financial markets and career mentors for participating students and others with an interest in the financial industry. The Office of Career Engagement and Experiential Learning (CEEL) will coordinate internship and career-related events for Saint Peter’s students as part of the partnership. The expert sessions and active management of the student fund will begin in the fall semester. Lord Abbett will host a boot camp training and launch event in the fall as well.

“Lord Abbett is committed to partnering with organizations in the community that align with our mission, and Saint Peter’s University is certainly one of them,” said Catherine Tantillo, head of community relations at Lord Abbett. “We believe this partnership will promote Lord Abbett’s investment expertise and will develop a potential pipeline of diverse talent for our organization. We look forward to working with Saint Peter’s students and faculty.”

The academic component of the SMIF is designed to provide undergraduates with hands-on investment experience using real money, deepening understanding of the stock market, fiduciary decision-making and wealth and asset management. The SMIF will also give students the opportunity to work with real-time financial data, acquire significant industry knowledge and gain real world decision-making skills.

Students with majors in finance and economics will be eligible to apply for the investment team and there will be required co-requisite courses for selected participants. Saint Peter’s faculty advisors Samar Issa, Ph.D., assistant professor of economics and finance, and Amanda Page-Hoongrajok, Ph.D., assistant professor of economics and finance, will lead implementation of the academic component of this project for the University.

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Saint Peter’s University, inspired by its Jesuit, Catholic identity, commitment to individual attention and grounding in the liberal arts, educates a diverse community of learners in undergraduate, graduate, doctoral and professional programs to excel intellectually, lead ethically, serve compassionately and promote justice in our ever-changing urban and global environment. To learn more, please visit www.saintpeters.edu.

Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. Founded in 1929, Lord Abbett is one of the oldest money management firms in the United States and has forged a culture that is built on the strength of its people, performance, relationships, and organizational agility—and guided by the values of excellence, responsibility, transparency, and collaboration. Lord Abbett manages approximately $198.5 billion in assets (as of June 30, 2020) across a full range of U.S. mutual funds, UCITS Funds, institutional and separately managed accounts, including $1 billion for which Lord Abbett provides investment models to managed account sponsors.

 

Media Contact
Angeline Boyer
(201) 761-6238
aboyer1@saintpeters.edu