Asset Management Practicum (AMP)

The Asset Management Practicum (AMP) is a sequence of courses designed to merge the theoretical and practical application of finance and investment management. Students in the AMP are responsible for managing a portion of Northwestern University's endowment portfolio under the guidance of faculty from the finance and accounting departments. Students have opportunities to analyze individual investments, make asset allocation decisions, trade, monitor risks, and conduct performance evaluation. Currently the program focuses on a portfolio of equities (including long-only as well as long/short strategies), and the portfolio's value is approximately $10.5 million.

The AMP portfolio is divided into five funds (Commingled, Crown, Kenney, Nash, and Simpson Querrey). The Crown, Kenney, and Commingled Funds are long/short portfolios based on fundamental security analysis. These funds allow quantitative overlays positions and ETFs to control market and style exposures. The Nash Fund is a long-only equity portfolio with long-term investment horizon (over two years), and the Simpson Querrey Fund is highly concentrated long-only portfolio with about eight equity holdings.

An integral part of the course is a series of guest lectures from industry leaders, and past guest lectures include following:

  • Jennifer Martin, '00, Portfolio Specialist and Vice President, T. Rowe Price: "Comfortable Being Uncomfortable."
  • Robin Yoshimura, '94, Managing Director and Portfolio Manager, First Republic Investment Management : "Volatility-based Equity Strategies ."
  • Matt Zumbach, '09, Vice President and Treasurer, Alight Solutions: "How to Prepare a Stock Pitch."
  • Philip Furse, '00, Portfolio Manager and CIO, Summit Public Equity: "TBA."
  • Scott Fearon '83, Founder and President, Crown Capital Management: "Improving long and short stock selection in a world of diminishing alpha."
  • Bruno Bertocci, Managing Director, UBS Asset Management Sustainable Equity Investors Team, "TBA."
  • Neil Rudolph, Co-founder and Senior Advisor, Symphony Asset Management: "Current Issues in Asset Management."
  • Theodore Samuels, Former President Capital Guardian Trust Company: "The Math of Investing."
  • Mark Wiskup, Founder, Mark Wiskup Communications: "Presenting an Effective Stock Pitch."
  • Philip Ordway, '07, Managing Principal and Portfolio Manager, Anabatic Investment Partners, "TBA."
  • Michael Mokotoff, '09, Managing Director, Head of Research, Strategic Investments Group, GCM Grosvenor: "TBA."
  • Tadd Chessen, Managing Director, Marketable Investments, Northwestern University Investment Office: "TBA."
  • Hiro Mizuno '95, Executive Managing Director and Chief Investment Officer, Government Pension Investment Fund of Japan: "Integrating ESG principles holistically into portfolio construction" (outside of class).
  • Louis A. Simpson, NU x'58, Chairman, SQ Advisors: "Screening criteria for stock selection."
  • Louis A. Simpson, NU x'58, Chairman, SQ Advisors; Amy Diamond, Managing Director, Private Investments & Real Assets, Northwestern University; Ellen Ellison: Chief Investment Officer, University of Illinois; Susan Manske, Chief Investment Officer, The MacArthur Foundation: "Perspectives on Investing." (Out side of class).
  • John W. Rogers, Jr., Chairman and CEO, Ariel Investments, "Perspectives on Leadership" (outside of class).
  • Spencer Lampert '83, Chairman and Chief Investment Officer, Exelauno Capital Management: "Macro Cycles and Equity Investing."
  • Jeffrey Ubben '87, Founder and Chief Executive Officer, ValueAct Capital and Portfolio Manager of the ValueAct Spring Fund: "Student Q&A" (outside of class).
  • Jennifer O'Hara Martin, '99, Portfolio Specialist, T. Rowe Price: "Investing in an age of Rapid Technological Change."

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