STUDENT

MANAGED FUND

I found the SMF essential in developing a knowledge base of the skills I would use everyday in a professional capacity in Investment Banking, in enhancing my ability to analyse what makes a company a good or bad investment, and in developing a network of like-minded individuals interested in getting the most out of their time in university to project themselves into their career with a valuable skill set
Tomás Beecham, Chief Investment Officer, 2018/2019

ABOUT US

OVERVIEW
The SMF is a student led investment club under the umbrella of the Investors and Entrepreneurs Society. Our purpose is to create a learning environment for students, connecting academic financial theory with practical experience in managing a real-money investment fund
STRUCTURE
Currently in partnership with Davy, the SMF follows a top-down, long-only, macro-driven investment process with the goal of outperforming the market over the medium term. Selected students can participate in all stages of the investment process from research and reporting to pitching and trading. 
PURPOSE
1
Provide a platform for the brightest and most ambitious students interested in  pursuing a career in finance to develop skills in managing a portfolio under the guidance of industry professionals 
2
Offer training resources to equip students with a competitive edge in the recruitment market 
3
Develop a diversified portfolio with a proportion of the profits donated to charity

WHAT WE DO

EQUITY RESEARCH
The Equity Analysts are spread across 9 sectors and play a pivotal role in determining what new stocks are added to the fund. We believe that company fundamentals are the primary determinants of long-term stock performance, and we strive to invest in companies that exhibit characteristics that have shown to be linked to out-sized returns.

This includes identifying companies that have a strong economic moat, are exhibiting relative price strength and are trading at low multiples of earnings, cash flow and book value. Guided by Sectors Managers, our Equity Analysts build their investment knowledge, improve financial modelling skills and have an opportunity to pitch to industry professionals at the end of each semester. The investment committee then uses these pitches when deciding what stocks for the fund to invest in
MACRO RESEARCH
The Macro Team plays a pivotal role in equipping students with a deep understanding of critical macroeconomic issues. This dedicated team offers comprehensive insights into a wide range of topical macroeconomic subjects, including GDP, interest rates, CPI and more.

In addition to their ongoing contributions, the Macro Team publishes a weekly Macro Bulletin. This bulletin serves as a vital resource, offering all members of the SMF up-to-date information on key macroeconomic factors from around the world. These insights help the entire organization stay current with global economic trends and developments, which, in turn, facilitate more precise and well-informed decision-making processes.

RISK MANAGEMENT
The Risk Team within the SMF holds a pivotal role in safeguarding the fund's investments by systematically assessing and mitigating potential risks. Comprising adept and vigilant analysts, this team provides tailored risk insights that are crucial in guiding the sector teams during their stock pitch considerations.

A key part of the Risk Team’s role involves the creation of detailed risk reports, each tailored to specific sectors. These reports serve as invaluable resources for the sector teams, offering a comprehensive assessment of the unique risks associated with each sector. The risk team also  keeps a vigilant eye on the fund's exposure to various sectors and geographical regions. Through diligent analysis, they provide insights that aid in optimizing the fund's allocation strategy, reducing the risk of overexposure to volatile or uncertain sectors and regions.
M&A
The M&A Team is a recent addition to the SMF. Comprising dedicated and analytical students, this Team is committed to providing comprehensive insights into recent deals in the global M&A market

A cornerstone of the M&A Team's work involves a deep examination of recent M&A transactions. By scrutinizing these real-world examples, the team gains invaluable insights into the motivations, strategies, synergies and outcomes behind each deal. The team's core responsibility revolves around conducting valuations of the respective target companies. Employing a spectrum of valuation methodologies, including discounted cash flow (DCF) analysis, precedent transactions analysis, and comparable company analysis, the M&A Team delivers a comprehensive assessment of a target's intrinsic value.

INVESTMENT COMMITTEE

HUGO BRADY
SMF CEO
Hugo is a final year Applied Computational Mathematics & Statistics student, he has competed in numerous trading and data science competitions, completed internships in prop & sell side trading, produced published research in the field of epidemic modelling / network analysis and is joining an investment bank as a Quant Sales Trader in 2022. Hugo was previously the fund's Chief Risk Officer, and prior to this was a sector manager and sector analyst.
MICHAEL BUCKLEY
CHIEF RISK OFFICER
Michael is a final year Economics and Finance student who will serve as the SMF Chief Risk Officer for the I&E’s 10th Session. He started off in the SMF as an analyst for the Consumer Staples sector . Michael spent his third-year internship with KKR’s Global Risk Strategies team and has also interned in Consulting with Deloitte.
NEIL HOLOHAN
CHIEF MACRO OFFICER
Neil is a final year Economics & Finance student who will serve as the SMF Chief Macro Officer for the I&E’s 10th Session. His involvement with the SMF began last year, as an Analyst for the Healthcare sector. Neil completed his placement year at Cantor Fitzgerald, where he was part of the Intermediaries & Investment Product Team and worked on several rotational projects with Merrion Investment Managers. In 2020, he completed a  semester exchange at the National University of Singapore. Neil recently competed in the ETF Global Portfolio Challenge and his extra-curricular interests include music, swimming, and poker.
PADDY KELLEHER
CHIEF INVESTMENT OFFICER
Paddy is a final year Economics and Finance student serving as the SMF Chief Investment Officer for the I&E’s 10th Session. He has previously worked in Aviation Finance, ran a non-profit initiative to promote student entrepreneurship in Ireland and returning to a proprietary trading firm as a Quantitative Trader in 2022.

JOSH GARVEY
INVESTMENT OFFICER
Josh is a final year Economics and Finance student who will serve as the SMF Investment Officer for the I&E’s 10th Session. He has been involved with the SMF for a number of years in UCD, starting off as an analyst for the Communication Sector. Josh has completed an internship at Abbey Capital, a managed futures hedge fund based in Dublin, after completing his semester exchange at the University of Toronto in 2020.  In his free time, Josh has an avid interest in golf.
HUGH BRENNAN
RISK OFFICER
Hugh is a final year Economics and Finance student who will serve as SMF Investment Officer for the I&E’s 10th Session. He has been involved with the SMF for 2 years, starting off as an Assistant Manager for the Health Sector, and then as a Risk Analyst last year. Hugh has completed internships at PwC and Dunport Capital Management.
CAIT MCDONAGH
INVESTMENT OFFICER
Cáit is a final year Economics and Finance student who will serve as SMF Investment Officer for the I&E’s 10th session. Cáit completed a year long internship at Clearwater International Corporate Finance as part of her degree, where she worked as an Analyst. In 2020, Cáit completed a semester abroad at the Australian National University and took modules in game theory, probability, financial maths and economics.
HUGO BRADY
INVESTMENT OFFICER

SECTOR OUTLOOKS

Basic Materials
Financials
Communications
Consumer Staples
Consumer Discretionary
Renewable Energy
Healthcare
Technology
Industrials
Utilities

BASIC

MATERIALS

SECTOR OUTLOOK

Manufacture or process materials such as chemicals and plastics or paper and packing, or the extraction of metal and minerals

Applications Open!

FINANCIAL

SERVICES

SECTOR OUTLOOK

Engage in business such as banking and brokerage, mortgage finance, and insurance

Applications Open!

COMMUNICATION

SERVICES

SECTOR OUTLOOK

Facilitate communication or provide access to entertainment content and other information though various types of media

Applications Open!

CONSUMER

STAPLES

SECTOR OUTLOOK

Provide goods and services that people use daily

Applications Open!

CONSUMER

DISCRETIONARY

SECTOR OUTLOOK

Manufacture goods or provide services that people want but don't necessarily need

Applications Open!

RENEWABLE

ENERGY

SECTOR OUTLOOK

Explore, produce, or manage renewable energy resources

Applications Open!

HEALTHCARE

INDUSTRY

SECTOR OUTLOOK

Produce and deliver medicine and health care-related goods and services

Applications Open!

TECHNOLOGY

INDUSTRY

SECTOR OUTLOOK

Create and store digital information that offer goods and services

Applications Open!

INDUSTRIAL

SECTOR OUTLOOK

Distribute capital goods in support of industries such as aerospace and defense, construction, and engineering

Applications Open!

UTILITIES

SECTOR OUTLOOK

Produce and deliver power, water, and other utility services

Applications Open!

THIS MONTH IN MACRO

As part of our new digital initiatives we are introducing a student managed fund macro economic magazine, covering the latest trends in the market every month.
OCTOBER: 2020 Issue 1 >NOVEMBER: 2020 Issue 2 >DECEMBER: 2020 Issue 3 >FEBRUARY: 2021 Issue 4 >MARCH: 2021 Issue 5 >APRIL: 2021 Issue 6 >OCTOBER: 2021 Issue 7 >

ESG STATEMENT

BASIC

MATERIALS

SECTOR OUTLOOK

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Applications Open!

ROTMAN

TRADING

INTERNATIONAL COMPETITION TEAM


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Upcoming Events
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WOMEN

IN BUSINESS

CODE 1st GIRLS, PANEL & CAREER TALKS


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Upcoming Events
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The UCD SMF believes that investing education with a focus on examining Environmental, Social and Governance factors as well as fundamental equity analysis will help us make better investment decisions. Our long-term view helps us make an active bet on societal change under the guidance of industry professionals. 

ESG investing and analysis has become of increasing interest to investment professionals globally as governments, asset owners, and high-net worth investors consider the impact of ESG factors on their investments and local markets. Keeping up with global trends, our Energy Sector only invests in renewable energy companies and we plan on introducing a ESG research segment in all of our pitch-books this year.
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In Environmental analysis, climate change, carbon emissions, air and water pollution, deforestation, waste management and a company’s energy efficiency will be some of the factors examined by analysts. 

When analysing a company’s social contribution, analysts will consider relationships that companies foster. Customer satisfaction, data protection, gender and diversity, human rights and labour standards are examples of a company’s social factors. 

Finally, the term Governance refers to the standards for running a company. Bribery and corruption, political contributions and whistleblower schemes are all aspects that we want to examine before making investment decisions. 

ESG is a fundamental aspect in our risk management structure and we hope to educate our analysts and influence the next generation of investors to invest responsibly.