By Edwin Escolero—
What’s investment really like? The Student Investment Management Group is a professional New Jersey City University organization that teaches members about finances and investment.
NJCU graduate Andrew Armanus who interned at Wells Fargo Advisory within financial advisory, reunited with NJCU as the president of SIMG. Andrew now imparts his wisdom to the current crop of investment greenhorns. The management group helps the next generation to be prepared for the day when have to deal with finance for themselves, “the goal is when I graduate someone will take over,” said Armanus, “It’s like a wheel, this money will be invested.”
The SIMG works to nurture their members’ ability to manage investments through hands on experience. This is achieved partly through the use of the SIMG portfolio.
Members make recommendations based on the analysis of figures and research, “they have to spend… hours investing,” said Armanus, “we have graduate students and non-graduate [students].” Students receive guidance from the veterans of investing while making judgments after carefully scrutinizing the research.
The management group was recognized by the Redefining Investment Strategy Education Forum [R.I.S.E], in core investments and ranked second. The RISE Forum is a two-and-a-half day investment assembly that calls on business professionals annually to share their experiences.
NJCU’s management group has gained experience and built trust through their use of savvy venture capital, “since 2008 we have management and investment money for school,” said Armanus. With tact, the group has increased the university’s investment capital funds.
SIMG lessens the risk of investment through hedging. Hedging is a “technique designed to reduce or eliminate financial risk” according to WordNet.
“By taking two positions that will offset each other if prices change [we lessened the risk of investment],” Armanus said, “We had companies on the table.”
Real money is utilized by the investment group, “it results in motivation for the group. We try to put in the student’s mind, it’s not about an A or B, because real world experience is gained you’ll know if you did a good job or not, you’ll be fired or not,” Armanus said, “You feel it, if you lose money, when you lose money you go back to look.” Members take initiative in their study of investment.
Currently SIMG has 45 members, “we’re shooting to have 60 by the end of the semester.” said Armanus. The experience [you get from] SIMG is invaluable; “it’s something you want to have. It gives you more perspective if you want to manage money for people,” said Armanus.
Helping the [NJCU] community prepare for the future is SIMG’s goal. The group [is working towards expansion], “expand on to campus, for instance someone could learn to manage a 401K,” said Armanus. Students can prepare for their financial future regardless [of] whether they’re not majoring in business [so they can] be better equipped to face today’s growing market.
“This is the one and only professional group, we try to keep it professional. We wear attire. We’re trying to brand the school in a new way,” Armanus said. Through SIMG’s movement NJCU has positioned itself [within] the competitive global market.
