Michael Price Student Investment Fund

Investment Management Initiative | Michael Price Student Investment Fund

Michael Price Student Investment Fund

Since 1999, Stern students have managed a portion of the NYU endowment. Four investment committees, real capital, and a full year of investment decisions made and defended by students.

Explore the funds Read the annual report

1999

Founded

$3.5m

AUM

4 Sub-funds

A real fund, run by students

Managing Investment Funds is a course at NYU Stern in which students manage a portion of the NYU endowment within the Michael Price Student Investment Fund (MPSIF). It was founded in 1999 through a gift from the investor Michael Price.

The fund's returns support scholarships for students from the Michael F. Price College of Business at the University of Oklahoma to study at Stern, and other educational activities at the School.

This is not a simulation. Students research ideas, pitch them to their investment committee, vote on them, and execute the trades themselves.

Return versus benchmark, fiscal year 2025 to 2026

Each sub-fund is measured against its own benchmark, and the fund as a whole against a blended benchmark of 75% S&P 500 and 25% Bloomberg Aggregate Bond Index.

View chart

The four funds

The course is organised into four sub-funds, each with its own mandate, benchmark and investment committee. Every student belongs to one.

MPT

Thematic Equity

Identifies the macro and sectoral themes driving equity returns and invests in baskets of equities built to capture them.
Benchmark: S&P 500

Thematic Equity Fund
MPSY

Systematic Equity

Takes exposure to systematic equity factors such as value, momentum and quality, through dedicated ETFs, individual securities, or both.
Benchmark: S&P 500

Systematic Equity Fund
MPO

Opportunistic Equity

Invests in individual equities where an identifiable catalyst supports significant outperformance.
Benchmark: S&P 500

Opportunistic Equity Fund
MPF

Fixed Income

Actively managed fixed income, using ETFs and individual bonds.
Benchmark: Bloomberg Aggregate Bond Index

Fixed Income Fund

How a position gets made

1

Research and pitch

A student develops an investment idea and pitches it to their investment committee with a written thesis, a target price and a stop-loss.
2

Debate and vote

The committee challenges the idea and votes on it. Nothing is bought or sold without a committee decision.
3

Execute and monitor

The committee's traders execute approved trades, and the committee tracks every position against its thesis, its target and its stop-loss until it is closed.

How the course works

Applying to the course

MPSIF admits one class a year, for fall entry.

How to apply