The Terrapin Fund is among about 20 student-managed funds at business schools nationwide, but unique, Kolodny says, in its breadth and depth. Like any equity management team, they will report to the College of Business and Management Foundation's Board of Directors at the end of their tenure. The management of the fund changes with personalities. Last year, the class looked for previous experience in investments, especially personal involvement and real interest in following the market. An information technology person was recruited to put up a Web page and link the fund to Internet resources.
Gender is an issue.
Of the 19 alumni of the program since its beginning in 1994, only three have been female, and none has been a portfolio manager. He thinks the recent recruitment of Meg Van De Weghe to the finance faculty in 1996, will change the balance in the future. Van De Weghe, a former managing director at J.P. Morgan, currently teaches an M.B.A. class in securities analysis and has taken an active interest in the fund. Terrapin Fund students spend time away from portfolio management gaining an understanding of the business from prominent alumni. They attend conferences on investment technology and sit in on strategy sessions of professional firms.