The Madden School of Business recently completed the third year of operations of the Dolphin Green & Gold Fund, a $1.2 million student-managed investment fund.
Since its launch the fund has grown in value by 20%. “I spent more than a decade working in investments for Wall Street firms and the analysis and valuations that the students in the fund perform is every bit as professional as I have seen in the business,” said Fund Director John Hunter. “This past semester the fund included its first all-women team of analysts, which not only did outstanding work but also brought to our attention the need to include environmental, social and governance (ESG) criteria when examining companies to be included in the fund.” (See profiles for student senior analysts/team leaders and analysts here.)
According to Hunter, the team researched the many aspects of ESG and wrote criteria for the fund that includes, among other points; a company’s contributions to society, employment diversity, how a company values employees, respect for human rights in how and where business is done, the purpose of a company’s products and services, and the company’s environmental and sustainability values.
“The fund’s ESG policy will actually position it at the forefront of investing,” said Madden Dean Jim Joseph ’83, who founded the fund. “While ESG is becoming more important in the investing world it is not yet used universally in the examination of potential investments and we will be among the leaders in its use.”
Joseph credits the fund’s continuing success to Hunter’s expertise, working in close consultation with Chandan Jha, assistant professor of finance, whose research focuses on the importance of women in leadership positions. The College’s finance department was recently ranked #42 on the nation by U.S. News & World Report.