The Investment Club at Hudson Valley Community College is using $10,000 in funds from the college’s Foundation to manage a portfolio beginning in 2014. This effort is expected to build on club members’ classroom learning and increase their knowledge of financial decision making and literacy.
The Foundation’s Financial Committee accepted the club’s proposal for the $10,000 investment, presented under the guidance of Joseph Stenard, Investment Club advisor and professor of History, Philosophy and Social Sciences, after reviewing a portfolio performance summary of a sample computerized portfolio that demonstrated members’ proficiency in managing funds.
The Foundation’s investment manager, Hugh Johnson Advisors, will oversee the club’s management of the portfolio under detailed guidelines, and a member of that company will serve as a mentor to club members, according to Ray Kimmelblatt, Foundation executive director. All funds will remain within the Foundation.
Students will concentrate on long-term growth and will use profits to support scholarships and campus projects. As part of the management agreement, the Investment Club will promote student philanthropy on campus and work with Foundation staff to increase their portfolio.
“This is an exciting collaborative opportunity between the Foundation and the college. It’s these types of partnerships that demonstrate the Foundation’s genuine commitment to fostering academic excellence and helping to prepare students for the future,” said Jerilee Beaudoin ’92, treasurer and Finance Committee chairperson for the Foundation and director of Commercial Services for SEFCU.
Published: Fri, 21 Feb 2014 12:45:39 +0000 by g.miller