Fifth Third Bank on Wednesday will donate $100,000 to the Wayne State University School of Business to fund creation of a student-managed investment fund.
“We’d like to build the fund as large as possible,” said Robert Forsythe, dean of the business school.
The fund, which will invest in public equities, will be managed by students taking a new three-credit course that will start next fall. There are more than 300 student-managed funds in the U.S.
An equities fund of $100,000 was launched for Walsh College students in January, and a $5 million student-run fund at Michigan State University also invests in equities.
There are three student-run funds at the University of Michigan. The $7 million Wolverine Venture Fund invests in early-stage private companies, the Zell Lurie Commercialization Fund helps entrepreneurs launch businesses, and the Social Venture Fund invests in for-profit enterprises with a goal of having a social benefit.