The MBA Investment Fund, L.L.C.
The MBA Investment Fund, L.L.C. is the first legally constituted, private investment company to be managed by students. The Fund is a limited liability company registered under the laws of the State of Texas. It was created to enable MBA students in the McCombs School of Business at The University of Texas at Austin to obtain real-world experience managing investment portfolios and developing relationships with clients. The fund completed its initial offering on December 8, 1994 with $1.6 million invested by accredited investors under securities laws. As of May 2013, the Fund has approximately 42 investors and $17.1 million under management in three different investment products: a growth-oriented equity portfolio and a value-oriented equity portfolio, which are managed for individual and institutional clients, and an endowment portfolio, which support the activities of the AIM Investment Center. The endowment fund consists of an enhanced index equity portfolio and a fixed-income portfolio.
Created by Dr. George W. Gau, of the McCombs School of Business and Founding Director of the Financial Trading & Technology Center, the Fund provides a unique interaction between Texas MBA students and professionals from major national investment firms. Under the direction of Dr. Keith Brown and Sanford Leeds, Esq., a select group of up to 20 students each year work as student portfolio managers with investment counselors on forming strategy and portfolio decisions. They also report to an Advisory Committee made up of leading members from the investment community and faculty from the Department of Finance.
Neither the University of Texas at Austin nor the Board of Regents of the University of Texas has the authority or power to act on behalf of the Fund, to do any act that would be binding on the Fund or to incur any expenditures on behalf of the Fund. Neither the University of Texas nor the Board of Regents of the University of Texas shall be liable for any debts or obligations of the Fund.