Quantitative Finance Fellows

The Quantitative Finance Fellows program is for students interested in investments and in particular the software, hardware, and quantitative tools used in the financial services industry. Today, many careers in asset management (hedge funds, mutual funds, or financial advisors) require an extensive use of mathematics and statistics to analyze portfolios of stocks and bonds, beyond the traditional security analysis methods. Having such advanced statistical and modeling skills can greatly increase your marketability for high-paying jobs. 

The featured course in this Fellows program is BMGT442F (Advanced Portfolio Management), which students will take in the Spring semester. This course will focus on quantitative methods of portfolio selection and is NOT a course on traditional security analysis. This course is very different from BMGT443 (Applied Equity Analysis and Portfolio Management); BMGT443 is "Fundamental Analysis" (classical ratios, such as the price to earnings ratio) and BMGT442 is "Quantitative Analyis," which uses purely statistical methods (regressions, portfolio theory, etc.) rather than analyzing the accounting statements of companies. In BMGT442F, students will use advanced econometric methods to form portfolios and backtest them to attempt to build a winning strategy. In addition to BMGT442F, students will complete both BMGT343 (Investments) and BMGT430 (Linear Statistical Models) in preparation for BMGT442F. 

Fellows will also participate in a non-credit section of Reuters 3000XTRA in both the Fall and Spring semesters (credit option, BMGT398Q available in the Spring semester).  The Reuters 3000XTRA meets on Fridays from 2-5pm in the Finance lab each semester with Chuck LaHaie.

The Faculty Champions are Chuck LaHaie and Dr. Russ Wermers.

Curriculum: one-year program

  • Prerequisite: BMGT340 (Business Finance).
  • Recommended (but not required): BMGT313 (Financial Statement Analysis) - Fall or Spring
  • BMGT343 (Investments) required if not completed in a previous semester - Fall 
  • BMGT430 (Linear Statistical Models) required if not completed in a previous semester (Students with a 2nd major in ECON can substitute ECON422 for BMGT430) - Fall or Spring 
  • Reuters 3000XTRA non-credit class (credit option offered in Spring semester under BMGT398Q) - Fall and Spring
  • BMGT442F (previously BMGT448C, Advanced Portfolio Management) - Spring 

Co-curricular activities/events

  • Mentoring program with professionals in field
  • Finance Fellows Speaker Series 
  • Reuters instruction and certification

Students are required to attend Finance Fellows Networking Night in the Fall plus two other co-curricular events as approved by the Finance Fellows team.

Fellows Application Eligibility

  • Must be a Finance Major. (You may apply if you are in the process of applying to Smith.)
  • Minimum Junior standing.
  • Grade of B- or better in BMGT340 (may complete either in current spring semester and admission is provisional contingent upon satisfactory completion of BMGT340).

Application Process

The Quant Finance Fellows application for 2014-2015 is closed. Applications will open January 5, 2015 for participation in Fellows for 2015-2016.

Questions? Contact Emily Doane Heavin (edoane@rhsmith.umd.edu).