4/23/13 ASHLAND, Ohio - Fifteen members of the Eagle Investment Group (EIG) at Ashland University had the opportunity to spend a week in Manhattan, N.Y., networking with business professionals in the finance industry.
In addition to the networking opportunities, the senior Ashland University finance majors spent time on Wall Street, including a visit to the floor of the New York Stock Exchange as well as visits with corporate sponsors such as AXA Advisors, TIAA/CREF, Abel/Noser and Bloomberg.
The students taking part in the trip were Corbin Blackburn of Westlake, Ohio; Nathan Cooper of Ashland; James Day of North Royalton, Ohio; Mitchell Hendren of Johnstown, Ohio; Candice McAfee of Mansfield, Ohio; Samantha Powell of Westerville, Ohio; Konner Reed of Burbank, Ohio; Mark Scott of Bolivar, Ohio; Nathaniel Serrano of Houston, Texas; Katherine Veglia of Medina, Ohio; Keith Wright of Wooster, Ohio; Eric Wrightsel of Plain City, Ohio; Yunfeng He of Yiwu, Zhejiang; Yongyuan Liu of Beijing, China; and Zachary Polen of Hartville, Ohio.
The students were accompanied by two Ashland University professors -- Dr. Tom Harvey, associate professor of finance, and Terry Rumker, assistant professor of finance. This trip to New York has been made annually since the Eagle Investment Group was first founded by Dr. Harvey.
Senior Konner Reed was impressed by the opportunity to visit the finance industry in New York City.
“We are somewhat detached from the ‘Wall Street’ world of New York while attending Ashland, so Dr. Harvey wanted to take a trip that would allow the senior finance students an opportunity to see the real world of finance on Wall Street,” Reed said. “Also, the trip takes us out of our comfort zone and lets us see some really interesting things, such as a New York Yankees game and the American Museum of Natural History.”
Students in Ashland’s Eagle Investment Group were first offered the chance to gain practical experience by managing the University’s investments in January of 2000 and have managed a portion of the University’s investment portfolio ever since.
In 2008, the Board approved a second fund of $370,000 to add to the initial investment fund of $250,000, and a third fund, named Eagle Financial Fund, has now been added that provides an additional $250,000 for the Eagle Investment Group to manage.
Harvey said the fund managed by the finance students has consistently outperformed the market.
“The funds are invested with care, skill, prudence and diligence,” Harvey said. “The funds are to be diversified to minimize the risk of loss. We’re also not allowed to invest in any security which derives its primary source of revenue from gambling, tobacco or alcohol.”
The students may invest in cash equivalents, such as treasury bills, certificates of deposit and money market funds; exchange-traded funds; fixed income securities, including corporate notes and bonds, mortgage backed bonds, U.S. government securities and preferred stock; equity securities, such as common stock, convertible preferred stocks, stocks of non-U.S. companies, convertible notes and bonds, and American depository receipts of non-U.S. companies; and mutual funds.
Each spring, Harvey and the Eagle Investment Group members spend a week in New York City to acquaint the students with the financial capital of the world. “We want our students to be able to walk down Wall Street, as well as Main Street, with anyone. The New York trip helps them to realize that,” Harvey said.
Ashland University, ranked in the top 200 colleges and universities in U.S. News and World Report’s National Universities category for 2013, is a mid-sized, private university conveniently located a short distance from Akron, Cleveland and Columbus, Ohio. Ashland University (www.ashland.edu) values the individual student and offers a unique educational experience that combines the challenge of strong, applied academic programs with a faculty and staff who build nurturing relationships with their students. ###