User:Orcuttmp/sandbox

BASIS at Virginia Tech is a student-managed bond fund investing $5 million of the Virginia Tech endowment. BASIS has a dual mandate of providing a unique educational experience for all of the members while generating competitive returns for the Virginia Tech Foundation. By investing real money, the student members merge the education they are receiving in the classroom with real market experience.

History: In October 2004, three pioneering students initiated and completed a research project investigating a fixed-income investment fund operated entirely by students. In February 2005, additional students were recruited to work on what would become known as Bond And Securities Investing by Students (BASIS). A third group of pioneers recruited in December 2005 obtained the approval from the Foundation’s Investment Committee in May 2006 with funding targeted for fall of 2006. Key features of the proposal were the educational benefits, the economic importance of a market many times larger than the publicly-traded equity markets, support of our alumni, and of course, the high quality of the students who would preserve and enhance the Foundation’s ability to support the university.

October 2006 brought the initial funds and the excitement of placing the first $2.6 million into the markets. The following year BASIS achieved a ranking in the top 10 percent of all professional fixed income managers. BASIS achieved strong positive returns even in the stressful years of 2008 and 2009. BASIS’s funds under management are approximately 1% of the VTF’s endowment or over $5 million by January 31, 2012.

October 2016, BASIS celebrated its 10th year anniversary. Since inception, BASIS has returned over $2.5 million dollars to its client, the Virginia Tech Foundation.