Golden Griffin Fund
Since its inception in the fall of 2003, the Golden Griffin Fund (GGF), an investment-management course for both undergraduate seniors and MBA finance majors at Canisius, grew from its initial $100,000 investment, from the college’s endowment, to more than $350,000. The student-run, real-money investment fund is invested over 25 individual stocks and three equity Exchange Traded Funds. It is specifically designed to educate students about the inner workings of the capital markets, while providing them with real-world learning experiences in investment management and equity analysis.
Bridging the Gap Between Theory & Practice
Under the Golden Griffin Fund, every aspect of investment management will be placed within your control. Using real money and real clients, you will be expected to research, create, and manage a stock portfolio. This includes advising companies to add to the portfolio, and soliciting new investors to increase your fund’s growth.
“The Golden Griffin Fund will help finance students bridge the gap between the classroom and the real investment world,” explains Nelson D. Civello, professor of finance and former professional adviser to the GGF.
The Golden Griffin Fund requires students to research, create, and manage portfolio holdings (stocks); analyze and recommend companies to add to the portfolio; and grow the fund through the solicitation of new investors.
“Students analyze different business models and market opportunities, apply various valuation techniques, and understand fundamental industry drivers,”adds Civello.
Fall students focus on conducting corporate research, development of an investment strategy and potential stock selections. The spring semester concentrates on fundamental stock research that will ultimately compose and shape the portfolio. Full-time faculty advisors and professional mentors empower students to take over the fund and make important management decisions to grow its value.
“The success of The Golden Griffin Fund and its members will attract student interest at Canisius, as well as potential business students from other areas who may be in search of a unique educational environment,” says Dr. Antone F. Alber, dean for the School of Business. “In turn, clients of the fund will have the chance to achieve investment returns based on students’ best efforts, build lasting ties to the college, and contribute to the development of a new, well-educated talent for the Western New York investment community.”
The GGF operates out of trading room known as the Financial Markets Lab in Old Main Room 111. The lab is furnished with various multimedia equipment including eight PC workstations; cable-access television with a data projection screen; and a Bloomberg terminal, which enables students to receive up-to-the-minute information on the world financial markets
Canisius College was the first higher education institution in Western New York to have the Bloomberg technology.
Steven A Gattuso, CFA, CFP, CMA, assistant professor of economics & finance, was named director of the GGF in August 2013. Formerly assistant vice president, portfolio manager for M&T Bank Corporation/Wilmington Trust. In this role, made investment decisions for assigned customer portfolios based on bank philosophy and customer objectives. Performed portfolio analyses to determine portfolio risk, return and term payments, and developed long and short term investment strategies.
An alumnus of Canisius College, '87, '88; a certified chartered financial analyst (CFA); a certified financial planner (CFP); and a certified management accountant (CMA). Currently serves as president of the CFA Society of Buffalo.