A Decade of Growth: How Queen’s Student Managed Fund Became a Pipeline for Upcoming Finance Leaders
In April 2016, Queen’s Student Managed Fund (QSMF) executed its first trade with real money. A decade later, the portfolio has reached £100,000 and QSMF has evolved into one of the largest student investment funds in the UK and Ireland.
The Funds attracts hundreds of members each year from across all disciplines at Queen’s and launches graduates into some of the world’s most competitive financial institutions. The QSMF story is not only one of investment returns, but of commitment, community, and collaboration.
The origins of QSMF began in 2012, with the introduction of the ‘Trading Room’ (now sponsored by FinTrU) at Queen’s Business School. The 12 newly installed Bloomberg terminals immediately transformed teaching and assessment on Finance programmes, with theoretical concepts coming to life in the historical and real-time market data now at the fingertips of our students. But there was appetite for more, and so Queen’s University Trading and Investment Club (QUTIC) was created to allow students to further develop industry relevant skills and to bridge the gap between theory and practice.
QUTIC began as a small, dedicated group of students working with academic staff to host industry speakers, run simulated trading competitions, enter the CFA research challenge, and manage an investment portfolio. Of course, initially there were no funds to invest, so management of the portfolio was a ‘paper-based’ exercise. However, this laid the foundations for what would become QSMF, as students developed their equity research and investment capabilities and funds were raised with the help of Queen’s Alumni Engagement and Philanthropy team. By academic year 2015-16, we were ready to launch!
The Fund Goes Live
Once real capital was at stake, everything changed: the seriousness, the preparation, the culture, the engagement. Students learned discipline, teamwork, the weight of fiduciary responsibility and, occasionally, the sting of volatility. Yet it was precisely these moments, graduates say, that prepared them for the world beyond university.
Former Chief Risk Officer, Ben Banerji, recalls that turning point vividly. “The responsibility of managing real money emphasises the importance of diligence across all levels of the Fund. The understanding of risk and return is given a tangible gauge that a paper fund could never offer.”
At the heart of QSMF’s model is a belief that authentic practice, learning by doing, and near-peer-engagement promote real learning. New analysts begin with training in the fundamentals: valuation techniques, sector dynamics, financial modelling, and macroeconomic interpretation. But from there, the Fund’s tiered organisational structure takes over, allowing students to develop into increasingly demanding leadership roles.
A typical journey might begin as an analyst, before progressing to senior analyst, sector head, executive committee member, and perhaps CEO. Each tier requires not just technical competence, but the ability to communicate, think strategically, collaborate and delegate.
As former Healthcare Sector Head put it, “as an analyst, I learnt how to analyse companies, compile research reports and recognise key drivers within the sector. The knowledge I gleaned enabled me to progress to the position of sector head the following year [and] has been extremely valuable for my personal development.”
Sector heads, in particular, shoulder substantial responsibility. Managing analysts, setting research agendas, and preparing their team for stock pitches, they often describe the experience as more demanding (and more rewarding) than any academic module. One sector head reflected: “this leadership role was different than any position of responsibility I have had in the past as it was very much a learning experience for me too. This forced me out of my comfort zone and to adapt my leadership style.”
The tiered system ensures that every year, new leaders emerge and the cycle renews. It is one of QSMF’s defining strengths.
Forged in Volatility: A Decade of Market Lessons
If experience is the best teacher, then the past ten years have provided a masterclass. Students have navigated major real‑world financial shocks: the Brexit referendum, US‑China trade tensions, interest‑rate reversals, the COVID‑19 market crash, an energy crisis, inflation surges, and geopolitical uncertainty.
One analyst described the pandemic year as “a crash course in crisis management — except the crash was literal.” With the FTSE 350 plunging, QSMF moved online almost overnight. Webinars replaced in‑person meetings and students had to maintain the discipline of research and risk management in an environment where markets rapidly reacted to unfolding events.
An Ecosystem of Industry Engagement
QSMF’s growing reputation has attracted a steady stream of industry partners, guest speakers, and supporters. These relationships have become central to the Fund’s identity and success.
Long‑standing sponsors and have offered workshops, pitch‑event hosting, and direct feedback from investment professionals. Alumni working in firms such as, Rothschilds, UBS, J.P. Morgan, Goldman Sachs, Susquehanna, Morgan Stanley, and Macquarie Asset Management regularly return to speak, mentor, and judge competitions. Meanwhile, organisations like AmplifyME, BlackRock, Mediolanum, and Clarendon Fund Managers, have exposed students to trading simulations, analytical tools, career insights, and emerging fields such as ESG and alternative assets.
Students engage with professional bodies through the CFA Research Challenge and can put their analytical and communication skills developed through the fund to the test in a competitive environment, winning the Irish final twice and representing QSMF at EMEA level competitions.
These sessions help students understand what the industry expects and what it values. As one student reflected: “Leveraging these opportunities and advice has been fundamental in securing many of our graduate and placement roles at interview.”
The Alumni Effect
Perhaps the most valuable development of the Fund’s first decade is the emergence of a genuine alumni network, one that now spans Ƶ, London, Dublin, New York, and beyond.
Former QSMF members hold roles in investment banking, equity research, trading, asset management, portfolio management, fintech, consulting, and venture capital. Many credit the Fund with unlocking opportunities that once felt out of reach: “The SMF was the real talking point in interviews; as soon as I had explained the concept I found that interviewers really focused in on it.”
These alumni do more than reminisce; they return and give up their time willingly to support the next generation of students. They judge pitch competitions, deliver talks, give honest advice, and offer mock interviews. The depth of experience among our alumni has also facilitated the launch of a London-focused mentor scheme where highly motivated first year students are partnered with an alumnus to receive one-to-one guidance on applications and visit several top tier financial institutions in London as part of a study tour. Some alumni have even hired QSMF students into their own organisations. The Fund’s culture is, in this sense, self‑perpetuating. Each generation lifts the next.
A Fund That Keeps Growing
Today, Queen’s Student Managed Fund oversees a portfolio of £100,000 in value, that has diversified into European and US Equities, Fixed Income, and global ETFs. Each year, new students bring their skills and passions to experiment and further develop the Fund. Most recently, with the introduction of a Quant Sector to allow students to develop quantitative skills and discussions initiated on introducing industry aligned sub-specialities such as investment banking and private equity. But for all its evolution, the core remains unchanged: give students responsibility, support them with knowledge and mentorship, and watch them rise to the challenge.
Looking Ahead
As QSMF enters its second decade, its ambition is expanding. Plans include deeper international diversification, more cross‑university collaborations, broader integration of quantitative methods, and new pathways for careers in private equity and digital assets.
In many ways, the Fund has become a microcosm of the industry it prepares students for, one that is fast‑moving, demanding, collaborative, and constantly reinventing itself.
One outgoing CEO put it best during his final address: “The most impactful role QSMF CEOs and Executive Committees undertake is setting the future trajectory and long-run strategy of the fund. That’s our legacy and now it’s someone else’s turn.”
A decade on, the Queen’s Student Managed Fund stands as one of the University’s most distinctive success stories: a student‑run organisation that has shaped futures, built confidence, formed lifelong networks, and demonstrated what young people can achieve when ambition meets opportunity.
If the first ten years are any guide, the next chapter will be even more compelling.
Written by Alan Hanna and Áine Gallagher, QSMF Faculty Oversight Committee