Arthur M. Blank School
The Blank School engages Babson community members and leads research to create entrepreneurial leaders.
Gain Hands-on Portfolio Management Skills
Babson College Fund
The Babson College Fund (BCF) is an accredited course in which specially selected students from both the undergraduate and graduate schools to manage $5 million of the Babson College endowment. The program is for highly self-motivated individuals with a strong interest in finance and investments. Participation requires a two-semester commitment.
The program seeks to provide a rich educational experience through the development of investment research skills and the acquisition of portfolio management experience. These skills and experience are highly valued by employers in the investments industry.
Program Objectives
The investment objective of the Babson College Fund is to outperform the S&P 500 Index. Managers conduct extensive fundamental and quantitative research to identify stocks that are attractively priced at their current market value. Selected stocks are then combined in a diversified portfolio. The managers monitor the fund's performance and sources of risk, aiming to keep risk and tracking error within allowable bounds. Managers budget the allowable risk to the active positions expected to add the most value.
The sector teams are responsible for one or more of the Global Industry Classification System (GICS) sectors. The sectors are grouped as follows:
- Quantitative/Risk Management
- Consumer Staples
- Consumer Discretionary
- Financials/REITs
- Healthcare
- Energy/Basic Materials
- Information Technology
- Communication Services
- Industrials
Performance and Stock Analysis Reports
2021 Calendar Year Performance:
Babson College Fund Portfolio: 27.2%
S&P 500 Index: 28.7%
Top 3 Contributors to Relative Performance:
- HyreCar (long stock, +120 bps)
- Advanced Drainage Systems (long stock, +88 bps)
- Clean Energy Fuels (long stock, +85 bps)
2020 Performance:
Babson College Fund Portfolio: 28%
S&P 500 Index: 18%
Top 3 Contributors to Relative Performance:
- California Resource Corporation (put contract, +573%)
- Clean Energy Fuels Corporation (long stock, +224%)
- Renewable Energy Group (long stock, +221%)
Apply to BCF: Summer 2022 Recruiting Dates
Eligible Students
- A minimum commitment of two semesters is required. The new managers will serve from September 2022 - May 2023.
- MBA and MSF students must have completed FIN-7503 (Equities) or plan to take it concurrently during the first semester of their BCF year.
- Undergraduate students must have completed FIN3520 (Security Valuation) or Investments (FIN4530).
- Students must hold a GPA of 2.9 or above and be in good academic standing.
Watch an overview of the BCF program from Program Director Patrick Gregory, CFA.
Review our Frequently Asked Questions to clarify any questions about the application process. Please email Leslie Romiza, Cutler Center Program Manager with any questions about the program or application process.
BCF Summer 2022 Application Packet
All materials are due at MIDNIGHT on Friday, July 8, 2022. Interviews will take place the week of July 25, 2022. Decisions will be communicated with accepted students in early August.
Meet the Cohort
Our current Babson College Fund Managers are self-motivated students with a demonstrated interest in investments, and a willingness to dedicate the requisite time and effort needed to succeed.
Spring 2022
Executive Portfolio Manager
Quant Managers
Lucas Brown
Juliana Bonilla-Rojas
Consumer Team
Andrea Torres
Hampton Boyd
Peter D'Ambrosio
Aaron Alden
Darsh Parekh
Financials/Real Estate Team
Xavier Raju
Andre Henson-Schnee
Caleb Giess
Healthcare Team
Chris Coutsoukis
Sarah Daume
Sophia Knopp
Prasaninder Kholi
Materials/Energy Team
Nicholas Michaud
Pavan Anandani
Ryan Watts
Information Technology Team
Ziaullah Anwari
Parth Pusegaonkar
Ayussh Ahuja
Corey O'Neill
Communications Services Team
Arya Patel
Burton Gesner
Bridget Handley
Joyce Wang
Industrials Team
Our faculty, advisors, and mentors are industry professionals who generously volunteer their time and energy to enrich the educational experience for the students through mentorship.
Pratima Abichandani
Retired Mutual Fund Manager
Pratima is a retired fund manager with experience at Fidelity Investments as Director of Research and member of an equity team managing assets of high net worth families and charitable entities.
Matt Apkarian MBA'20
Senior Analyst, Product Development at Cerulli Associates
Matt is a former Executive Portfolio Manager of the Babson College Fund. His professional career has been spent in several roles at Fidelity Investments, most recently as an Investment Data Analyst for Strategic Advisers.
Paurav Barot MSF’20
Analyst, Ellisville Harbour Partners
Paurav is a former Materials/Energy analyst for the Babson College Fund. He has experience as a research analyst specializing in Renewable energy and Basic materials. Paurav currently works as an analyst in the research division of Ellisville Harbour Partners.
Brittany Bascom MBA'16
Global Head of Investment Analysis, John Hancock
Brittany has experience in investment product development, asset manager selection, and investment oversight of performance and risk across retail, institutional, and retirement business globally at John Hancock.
Jack Cahill
Retired Manager, Research and Instruction
Jack has over 30 years of experience in managing, budgeting, evaluating, and utilizing information products, market data services, and third-party research services for investment management, banking, and consulting enterprises.
Lilia Chobanova MSF'18
AVP, Investment Strategy, Wellington Management
Lilia is a former member of the Quant team and was Executive Portfolio Manager of the Babson College Fund. Lilia has several years of experience in Asset Management, currently an Investment Strategy Analyst at Wellington Management.
Hugh Crowther
Principal, Crowther Investment
Hugh has deep knowledge of global multi-asset class research techniques with expertise in quantitative research, building and managing portfolios, and investment technologies. He is a member of the CFA Society Boston’s Board of Directors.
Richard Grasfeder, CFA, MBA’05
Managing Director, Senior Portfolio Manager, Boston Private Wealth, an SVB company
Richard co-manages the firm’s internally managed fundamental equity strategies and heads the firm’s equity research efforts. His prior equity research experience includes sell-side research within the technology sector, and buy-side research covering technology, energy, industrials, materials, and utilities, and managing a technology sector fund.
Patrick Gregory, CFA
Managing Director, Stephen D. Cutler Center for Investments and Finance, Faculty Director, Babson College Fund Director, Senior Lecturer
Patrick Gregory, CFA is the Managing Director of the Stephen D. Cutler Center for Investments and Finance, the Director of the Babson College Fund, and a Senior Lecturer in the Finance Division at Babson College. Before joining the faculty, Patrick was an institutional portfolio manager at FM Global from 2007-2015, where he managed the Healthcare, Internet, and Telecom sectors of a $6 billion equity portfolio. He was also responsible for the evaluation, selection, and ongoing evaluation of third-party investment managers.
John Hickling, CFA
Retired Hedge Fund Manager
John was a mutual fund manager at Fidelity Investments for many years, spending much of his career managing the firm’s international funds. He then launched an international long/short hedge fund that he later sold in 2007.
Adam Liebhoff
VP, Investment Analysis, FM Global
Adam has 20 years of experience in asset management/ownership as a research analyst, client-facing portfolio manager, and allocator across a $16.5B portfolio of global equities, fixed income, and absolute return investments.
Colleen MacPherson, CFA, MBA’14
Director of Research, Portfolio Manager, Penobscot Investment Management Company
Colleen has over ten years experience in the finance industry, having spent time at Brown Brothers & Harriman and Eaton Vance prior to her current role as Director of Research and Portfolio Manager at Penobscot Investment Management Company.
George Massey MBA’20, MSF’21
Managing Member, Ellisville Harbour Partners
George is a former Materials/Energy analyst for the Babson College Fund. While at Babson, George launched Ellisville Harbour Partners, a global, concentrated strategy investing in companies with emerging technologies in frontier markets.
James Spencer, CFA '73
Former CIO, Cambridge Trust Co.
Jim has over 25 years of experience in investment management with expertise covering specialty chemicals. He is the former CIO of Cambridge Trust Company. Institutional Investor Magazine named Jim a member of its All American Research Team for eight years.
Holland Ward
Retired Hedge Fund Manager
Holland has extensive experience as a research analyst and portfolio management for long/short equity funds, with expertise in technology, energy, and natural resource sectors.
Class Speakers
Throughout the semester, alumni and industry professionals are welcomed into the classroom to share their insights and experiences within the investment management space.
Mohnish Pabrai
Managing Partner, Pabrai Investment Funds
Mohnish Pabrai is the managing partner of Pabrai Investment Funds which he started in 1999 with $1 million. The company has ballooned to $469 million due to its Munger/Buffett-focused value investing style. He is now extensively involved in philanthropy with the Dakshana Foundation where he provides educational opportunities for gifted but underprivileged children worldwide.
Dave Lundgren, CMT, CFA
Private Investor
Dave Lundgren is a 30-year investment industry veteran focused on technical analysis strategies, particularly momentum and trend following. He has held both analyst and portfolio manager positions at several major investment firms, including Wellington Management, Fidelity Investments, and Thomson Financial. In addition, David has started several research and investment firms, including Lundgren Financial Services, Breakaway Research, and hedge fund Lyceum Capital.
Dennis Hong
CEO, ShawSpring Partners
Dennis Hong started his own hedge fund right out of business school and has grown his fund to over $500 million assets under management. He’s also seen superior returns investing in global technology companies.
Babson Thought & Action
Investing in the Future with Patrick Gregory
Patrick Gregory, senior lecturer and managing director of the Stephen D. Cutler Center for Investments and Finance, uses his experience working in the finance industry and in the classroom to create a more dynamic student experience.
Learning the Art of a Stock Pitch
As part of the Babson College Fund, students commit two semesters to develop their investment research skills while managing a portion of the College's endowment. While presenting a stock pitch in class is common, pitching to legendary investor Peter Lynch is a rare opportunity.
Investment Advice from Students with the Babson College Fund
In 2020, the Babson College Fund produced a 28% return on investment, outperforming the S&P by 1,059 basis points. Based on Morningstar data, the students' performance would place in the 99th percentile of large-cap blend managers.
Beyond Rate of Return: Babson Changes Investment Strategy
In February 2021, Babson’s Board of Trustees voted to integrate ESG (environmental, social, and governance) factors—a growing form of investing that essentially takes a broader view of a company beyond just its profitability—while making investment decisions for its endowment.
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Financial support of the Babson College Fund is critical and allows us to provide students with a unique opportunity to learn, build valuable skills, and lead outside of the classroom from industry professionals.
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