Purpose
A student-managed fund with the discipline of a buy-side.
MUFIB-SMIF is the Student Managed Investment Fund of the Master in Finance and Banking at Barcelona School of Management. We operate as a real fund: policy, committee, theses, execution and reporting.
Learning by managing real capital
We move from theory to portfolio. Every decision has consequences and is traced in the minutes.
A systematic, repeatable process
A written investment policy, reviewed annually. Asset allocation → security selection → execution → monitoring.
Cohort continuity
Structured onboarding in September, mentoring from March to June and a signed handover at year-end.
Traceability and data governance
All decision-making lives in the fund's ERP. No critical information resides in a single person.
Structure
Investment Committee + sector teams + cross-functional roles.
A matrix structure: every member sits on a sector team and owns one cross-functional role, while the Investment Committee approves every position.
Investment Committee
Three members (CIO, Risk, Research). Approves buys, sells and rebalancing; validates theses and signs the minutes.
Sector teams
4–5 sectors covered by 2–3 analysts and a team lead. Each team maintains a watchlist of 8–12 names.
Cross-functional roles
Macro, Research, Risk, Operations, Reporting. Each member sits on a sector team and owns one cross-functional role.
13
people per cohort
3
seats on the Committee
4–5
sectors covered
Investment policy
The rules that keep the team disciplined.
Approved at the start of each cohort by the Investment Committee. Any change requires a formal vote.
| Parameter | Guideline |
|---|---|
| Universe | Listed equity in developed and liquid emerging markets. |
| Positions | 20–30 names. Minimum 2% and maximum 8% per position. |
| Sector limits | Max 30% per sector; max ±10% deviation vs target asset allocation. |
| Minimum liquidity | Average daily volume allowing us to unwind in ≤ 3 sessions. |
| Cash | Between 2% and 10% unless the Committee decides otherwise. |
| Stop-loss / review | Mandatory thesis review if drawdown > 20% or driver is lost. |
| Rebalancing | Quarterly or whenever the limits above are breached. |
Operating calendar
How the fund runs through the year.
A repeatable rhythm — daily tactical, weekly Committee, quarterly rebalancing, annual handover.
Daily
News, alerts and catalyst review.
Weekly
Investment Committee: buys, sells and rotations.
Bi-weekly
Watchlist review and prioritisation.
Monthly
Performance report and macro review.
Quarterly
Rebalancing and post-earnings review.
Annually
Policy review and handover to the new cohort.