FIN:9250/FIN:9260—Applied Security Analysis I & II
Spring 2018 & Fall 2018
The Department of Finance and the Tippie College of Business are accepting applications for the 2018 Henry Fund research team. The Henry Fund provides a forum for select students to develop equity research and portfolio management techniques while serving as managers for the $5.7 million endowed Henry Fund portfolio. This two-semester program fulfills the experiential learning component for full-time MBA students in the Finance Academy investments or corporate finance tracks.
The program aims to prepare individuals for a variety of finance-related internships and careers, including equity research, investment banking, portfolio management, credit and financial analysis, wealth management, mergers and acquisitions, investor relations, venture capital, and corporate finance. Each Henry Fund analyst specializes in one economic sector, which provides an opportunity to gain a deep understanding of company, industry, and economic value drivers.
The Henry Fund program is open to full-time MBA students pursuing either the investments or corporate finance tracks. The number of students admitted to the program will be a function of the quality of the application pool. No prior finance or investments experience is required to apply for admission. Successful candidates will likely exhibit excellent communication skills, strong analytical ability, a broad understanding of the economy, and a willingness to work very hard. The program is very time-consuming and candidates must be self-motivated.
Acceptance into the Henry Fund requires a two-semester commitment (FIN:9250/FIN:9260 Applied Security Analysis I-II, January-December 2018). Students admitted to the Henry Fund will also be required to enroll concurrently in FIN:9150 Financial Modeling and Firm Valuation during the spring 2018 semester.
The spring semester (FIN:9250) focuses on developing a framework for security and portfolio analysis, acquiring valuation skills, and preparing for summer internships. Analysts are required to complete at least three original research reports each semester. Students are also expected to monitor their assigned sector throughout the summer. The fall semester (FIN:9260) aims to build a deeper understanding of portfolio analytics, expand the research portfolio, improve valuation techniques, and enhance communication skills. Participation in the fall semester (FIN:9260) is contingent upon each student’s successful completion of the spring semester, defined as earning a grade of B+ or higher in FIN:9250. Students should leave the program with a developed research portfolio and prepared to begin their career search. Henry Fund students targeting an investments career are also encouraged to enroll in the CFA Program.
Candidates are expected to know and adhere to all rules and application procedures. Failure to abide by any of these requirements, rules, or deadlines may result in the rejection of your application. Please refer to the complete application for details.
(strictly enforced with no exceptions or extensions):
Monday, November 27, 2017 at 2:00 p.m.
Department of Finance, S252 PBB
Required Application Materials:
- Hard copy of written materials (due 11/27/17, 2:00 p.m., Dept. of Finance, S252 PBB):
- a. Cover Page
- b. Updated Resume
- c. Tippie SOM Grade Report (first eight weeks)
- d. Research Report for Under Armour Inc. (UA/UAA)
- Electronic Copy of Research Report (via email attachment to email@example.com by 2:00 p.m., 11/27/17)
- Investment Presentation (Tues., Nov. 28 or Wed., Nov. 29, times to be determined)
- Selectees must also attend the Henry Fund Advisory Board Presentations (Fri., Dec. 1, 10:00-3:00 p.m., 425 PC)
Research reports submitted as part of the application for the 2018 Henry Fund team will be double-blind reviewed by a committee consisting of at least three members of the Tippie College of Business faculty. When reading these reports, the selection committee will not know the identity of any applicant until after completion of the review. The results of this blind review will determine the first screen of the final candidate pool.
The individual investment presentations will provide a second filter to the selection process. Presentations will be evaluated by a panel of finance faculty, MBA staff, and current members of the Henry Fund research team. (Current Henry fund students may participate on the presentation panel, but they will not have a formal vote in the team selection.)
The final step in the team selection considers each candidate’s personal background, resume, interactions with Tippie College of Business staff, and academic performance in Tippie College of Business courses. This information will be used to make final borderline selection decisions as well as to assign final sectors to candidates admitted to the Henry Fund. Performance in the Managerial Finance course (MBA:8180) is particularly important in the selection process, and we expect students admitted to the Henry Fund to earn a B+ or higher in this course. The committee must also consider our fiduciary role as managers of the University of Iowa Foundation’s assets in this selection process.