How much money did you manage in college? With the Lemma Senbet Fund, undergraduate students at the University of Maryland's Smith School of Business have the opportunity to manage over $100,000. Here's a look at what they do with those six figures.

Now in its second year, the student-run Senbet Fund was designed to be the undergraduate version of the Smith School's $1.2 million MBA-run Mayer Fund. Smith Professor Sarah Kroncke, the faculty advisor for both funds, explained that the Senbet Fund is managed by a 12-member team (two portfolio managers and 10 equity analysts ) of senior finance majors who represent the school's top tier of students.

Becoming a member of this fund is no small task. What's involved? Most students spend around 10 hours developing their application package, which includes an analyst report offering a buy, sell or hold recommendation on a stock. Once selected, fund members are required to serve for one year in the fund, including meeting on a biweekly basis. At the end of their one-year run, fund members earn six undergraduate credits toward their degree.

The Senbet Fund considers itself a long-term growth fund that invests primarily in stocks , but has the option to put money in other financial instruments like bonds and derivatives if the student managers decide to do so.

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