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Senbet Fund Members Ring Bell to Open NYSE
A group of Robert H. Smith School of Business undergraduate and MBA
students had the honor of ringing the bell to open trading on the New
York Stock Exchange on January 19, 2007. The students manage the Smith
School’s two investment funds — the
Mayer Fund and the Lemma
Senbet Fund — and are in New York for an educational trip to meet with
financial professionals.
The 9:30 a.m. bell-ringing ceremony was televised on CNBC and
Bloomberg Television, as well as broadcast live on NYSE’s Web site, www.nyse.com. A photo of the ceremony and
additional information can be found
at
the NYSE Web site. Following the bell-ringing, the students took part in
an educational seminar at the exchange.
The $50,000 Lemma Senbet Fund, modeled on the Mayer Fund, is managed by
10 undergraduate finance majors. Named for an esteemed Smith finance
professor for his contributions to the school, the Senbet Fund launched this
past fall as one segment of the Undergraduate Fellows Program. The fellows
program is an initiative Smith introduced last fall to offer students
participation in small-scale specialized academic concentrations, or
“tracks,” that provide hands-on experience and close interaction with
faculty, alumni, peers, and companies.
Like the Mayer Fund, Senbet Fund managers’ goal is to outperform the S&P
500. The undergraduate fund will also pay a dividend to the Dean’s Office
each year. The New York Stock Exchange, operated by NYSE Group Inc., is the
world’s largest and most liquid cash equities exchange where investors buy
and sell listed companies’ common stock and other securities. Ringing the
bell to open or close trading on the exchange is an honor usually reserved
for representatives of listed companies or dignitaries.
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