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Interim Report

This interim report provides an overview of the MBA Fund's investment philosophy and approach, focusing on outperforming the S&P 500 through strategic stock selection and sector allocation. Key aspects include rigorous fundamental analysis, risk assessment, and a long-term investment horizon. The report outlines the current portfolio's performance, investment criteria, and future outlook, emphasizing adjustments based on market conditions and economic trends. Insights from fund managers highlight the importance of solid financials and strong management in investment decisions.

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Interim Report

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  1. Interim Report Student Managed FundMBA class of 2004November 14, 2003

  2. Agenda • Investment Philosophy & Approach • Investment Process • Sector Allocation • MBA Fund Holdings & Investment Criteria • Future Outlook

  3. Investment Philosophy • Strive to outperform the S&P500 • Selecting stocks with strong growth potential • Closely monitoring the portfolio • Rely on fundamental analysis • Historical performance • Business models • Economic outlook for the industry • Equal sector allocation • Subject to re-evaluation due to economic changes and the increased experience of the group • Long-term (5 year) investment horizon

  4. Investment Approach Traded Stocks Competitors and Market Share Products and Customers Business Model Analysis Sector Allocation and Industry Selection Industry Outlook Economic Situations Risk vs.Return Stock Market Universe

  5. Stock Selection Criteria • We look for: • Solid financials • Strong management • Earnings growth • Attractive valuation relative to the index • Higher return/risk relative to industry

  6. Stock Selection Criteria (continued) • Buy Criteria: • Steady growth rates • Intrinsic value > market value • Above average yields • Upside-downside ratio of at least 2 • Sell Criteria: • Stock reaches its price objective • Industry-sector weighting exceeds predetermined limits • Risk/reward profile deteriorates • Earnings figures lower than estimates

  7. Investment Process • Sector Allocation/Equity Identification • Sector Assignments • Filtering • Equal Allocation • Fundamental Analysis • Financial Statements Analysis • Trend Analysis

  8. Investment Process (continued) • Valuation • Business Model Analysis • Intrinsic Value • PEG Ratio • NAICS • CAPM • Risk Factors (Internal & External) • Performance Monitoring • Stop Loss Measures (20%) • Appreciation Reevaluation (30%) • Continuous Monitoring & Dynamic Response

  9. S&P 500 Sector Allocation • Big Four: • Financials • Information Technology • Consumer Discretionary • Health Care

  10. SMF Sector Allocation Budget not yet fully allocated As of 11/12/03

  11. SMF Holdings Equal weightings of sectors and initial investments ($10,000 to $15,000)

  12. SMF Holdings • Amount Invested in Individual Equities = $121,537.8 • Market Value = $123,921.40 • % Basic Gain/Loss = 1.96% • Initial Holdings on 9/4/03 = $251,741.00 • Market Value on 11/12/03 = $ 261,250.76* • Total % Basic Gain/Loss = 3.78%* • S&P 500 Return (9/4/03-11/13/03) = 2.96% (*Market value of SMF holdings at close on 11/13/03)

  13. Investment Criteria Quantitative & qualitative factors checked across industries

  14. Qualitative Investment Criteria - Portfolio

  15. Quantitative Investment Criteria - Portfolio

  16. Qualitative Investment Criteria - Portfolio

  17. Quantitative Investment Criteria - Portfolio

  18. Outlook • Strong economic growth likely Positive market returns expected • Adjust sector allocation to economic outlook • Monitor portfolio to maximize value • Invest funds quickly, but wisely • Beat benchmark

  19. Michael Appell Jessie LeBlanc Tanzhuo Liu Saipriya Menon Geoffrey Munger MBA Fund Managers • Ganesh Padmanabhan • Anjana Radhakrishnan • Heather Utter • Wiebke Wanner-Borchardt

  20. Thank you • University of Connecticut Foundation Inc. • Investment Advisory Board • Steering Committee • Dr. Chinmoy Ghosh

  21. Questions

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