About the Fund

With a current market value of $19,000,000 CAD (as of March 22, 2019), the SIAS Fund is Canada's largest student-run investment fund, and is one of the largest such funds in North America. Each fall, students from the Master of Science in Finance Program are selected as part of SIAS, an endowment portfolio funded by generous donations from HSBC Canada and the Lohn Foundation. With the Treasurer of the Simon Fraser University Endowment Fund as the Client, the SIAS fund follows a balanced investment style with four asset classes that are semi-actively managed: Canadian Equity, Global Equity, Fixed Income and Cash. Each non-cash asset class is led by a Portfolio Manager and supported by Associates and Analysts responsible for Sectors (Canadian and US) or Regions (Global).

The SIAS Economics team provides the Equity and Fixed Income teams' short-term and long-term Capital Market Expectations so the Portfolio Managers may develop an overall asset allocation strategy for the fund. As per the Investment Policy Statement, the Canadian and US Equity asset classes are invested using an allocation top-down approach while security selection is performed with a bottom-up approach. SIAS also invests in international equity through national and regional ETFs. The Fixed Income team manages a portfolio of bonds that is allocated between Canadian Federal, Provincial, Municipal and Corporate bonds. The Compliance team ensures that the portfolio is in compliance with the Investment Policy Statement, and that sufficient due diligence was performed prior to executing any transactions. The Risk Metrics team identifies strategies that can be used to systematically manage the risk of the portfolio, and advises the equity teams about the impact of proposed transactions to the existing level of risk. The traders coordinate with brokers and ensure that approved transactions are executed in a timely and efficient manner.

The opportunity to manage the SIAS Fund rigorously tests and expands the students' qualitative, quantitative and analytical skills on a daily basis, and greatly helps prepare them to hit the ground running on day one within promising careers in the Finance industry.

How it works

Each fall, MSc Finance students join the SIAS Fund, an endowment portfolio funded by contributions from HSBC Canada and the Lohn Foundation. With the Treasurer of the Simon Fraser University Endowment Fund as the Client, the SIAS fund follows a balanced investment style with four asset classes that are semi-actively managed: Canadian Equity, Global Equity, Fixed Income and Cash.

The SIAS team

Each non-cash asset class is led by a Portfolio Manager and supported by Associates and Analysts responsible for Sectors (Canadian and US) or Regions (Global).

The SIAS Economics team provides the Equity and Fixed Income teams' short-term and long-term Capital Market Expectations so the Portfolio Managers may develop an overall asset allocation strategy for the fund. As per the Investment Policy Statement, the Canadian and US Equity asset classes are invested using an allocation top-down approach while security selection is performed with a bottom-up approach. SIAS also invests in international equity through national and regional ETFs.

The Fixed Income team manages a portfolio of bonds that is allocated between Canadian Federal, Provincial, Municipal and Corporate bonds.

The Compliance team ensures that the portfolio is in compliance with the Investment Policy Statement, and that sufficient due diligence was performed prior to executing any transactions.

The Risk Metrics team identifies strategies that can be used to systematically manage the risk of the portfolio, and advises the equity teams about the impact of proposed transactions to the existing level of risk. The traders coordinate with brokers and ensure that approved transactions are executed in a timely and efficient manner.

Performance measurement

The performance of the SIAS Fund is monitored closely against relevant benchmark indices, and the results are presented quarterly to the Performance Review Committee, an esteemed collection of industry experts who are keen to lend their expertise to challenge and advise SIAS at these presentations.