Ethics
Both student managers and supervising faculty have a fiduciary responsibility to the MSU Foundation, and adhere to a strict code of ethics regarding the SIF. All participants adhere to the AIMR Code of Ethics and Standards of Professional Conduct. Classroom discussions regarding potential purchase or sale of any security are strictly confidential. Both students and faculty are prohibited from “front-running” trades made by the fund, purchasing or selling a security when there is a reasonable expectation that the SIF will purchase or sell that security during the current semester.
Ethics and Conduct Statement
The Michigan State University Student Investment Fund (SIF) is entrusted with managing a portion of the investment funds of the Michigan State University Foundation.
Supervising faculty and student managers must adhere to a high ethical standard. By observing the following principles, participants will ensure the confidence of the MSU community in the integrity of SIF practices.
- Participants have a fiduciary responsibility to the MSU Foundation, and must place the MSU Foundation’s interests above private gain.
- All participants must adhere to the Association for Investment Management and Research (AIMR) Code of Ethics and Standards of Professional Conduct.
- When a potential conflict of interest may exist, participants shall disclose potential conflicts, and end their participation if appropriate.
- Participants shall not engage in financial transactions using SIF information or allow the improper use of such information to further any private interest. Classroom discussions regarding potential purchase or sale of any security are strictly confidential. Participants are prohibited from “front-running” trades made by the fund, purchasing or selling a security when there is a reasonable expectation that the SIF will purchase or sell that security during the current semester.
Violations of these rules are not tolerated, and SIF supervising faculty, the Department of Finance Chairperson and/or the Eli Broad College of Business Dean’s Office review suspected or known improper activities. Student managers found to violate these rules will receive a failing grade for the course (FI 857), with all decisions subject to the procedures in the Academic Freedom for Students at Michigan State University.