Program Details
Location
London,
United Kingdom
Term
Spring Break
Housing
Hostel
Hotel
Languages Taught In
English
Sponsor
Carlson School of Management
Program Eligibility
Student Type
UofM Students
Student Year
Juniors
Seniors
Graduate Students
GPA
No Requirement
About
London: The finance capital of Europe, a hub for investors, sustainability research, and economic research. The ideal location to understand the global nature of capital markets. Institutional investing has evolved over the years into a global search for opportunity. While the US dominates, asset allocation careers require solid understanding of investment opportunities outside the US. Strategies are driven by legal differences in structure, different regulatory frameworks for evaluating sustainability, as well as different cultural preferences.
This course will focus on the history and development of the Institutional Asset Management business, and explore its potential in both the United States and internationally. This course will involve one week of travel during Spring break, where you will meet with asset managers in London and evaluate their strategies and business models.
Program Model
Housing & Meals
The program fee includes hotel lodging for 7 nights. Hotel rooms will be two students per room, unless a special request is made.
The opening and closing dinners are included in the program fee.
Application Deadline
December 1, 2024
Program Dates
Spring Break 2025—March 8–15, 2025
Academics
You will earn 4 credits for FINA 6920 (Grad) or FINA 5920 (Undergrad).
Course Objectives
- Describe the development of the asset management business
- Understand the different investment vehicles in use today, both in the U.S. and abroad
- Evaluate the sustainability claims of different asset managers
- Analyze performance metrics for different strategies, including Alpha calculation and comparison, tracking error, portfolio beta, Sharpe ratio, Sortino ratio, Treynor ratio, and Drawdown.
- Develop a recommendation for investors based on an assessment of strategy suitability
- Develop a business recommendation for asset managers based on current market dynamics
Prerequisite
Prior or current enrollment in the Carlson Funds Enterprise (BA 4501, BA 4502, MBA 6501, or MBA 6502) is a prerequisite for this program. Students who are in or have been in Funds by March 2025 are welcome to apply.
Program Leader
Susanna Gibbons has over 30 years of investment industry experience across multiple asset classes, including equities, alternatives, and fixed income, and multiple roles, including analytical, portfolio management, asset allocation, and educational. She is a fellow within the Institute on the Environment, University of Minnesota. She earned an MBA in Finance from the NYU Stern School of Business and is a Chartered Financial Analyst.
Olivia Starr has 10 years of international education experience in Spain, South Korea, and the US. She has lead experiential learning programs in Minneapolis, New York, and Stockhom. She has 2 years of experience in client management and operations.
Excursions
We will be visiting the offices of asset managers. These are subject to change based on availability. Expect a minimum of one visit per day, likely more.
More Information
For more information, contact Olivia Starr at [email protected].
Program Fee
Spring Break 2025 Cost of Participation
In addition to the program fee, you will need to budget for international airfare, passport and passport photos, some meals, textbooks, independent travel, and miscellaneous living expenses.
Note: If you are registered for less than 12 credits or a UofM graduate student, you will be charged tuition for this course in addition to the program fee. Notify the Learning Abroad Center if this applies to you.
Billing & Payments
Visit Billing for information about the billing process for application fees, deposits, and program fees.
Financial Aid & Scholarships
Visit Financial Information for information on using financial aid and scholarships for study abroad.
This program is considered part of spring enrollment for the purposes of registration and financial aid.
Bridging Loan
Bridging Loan, a no-interest/no-fees loan that funds the upfront deposit and flights costs, is available for this program for eligible students.
Cancellation Policy
The regular Learning Abroad Center cancellation and refund policy does not apply to this course. The departmental refund policy states that cancelling your participation (prior to program start date) means you will be billed for:
- $50 application fee + $500 program fee
You have the option to appeal the Cancellation Policy when cancelling for extenuating circumstances. The Appeal for Refund Process details the process.
Spring Break 2025
The Business of Asset ManagementSpring Break 2025 |
|
|---|---|
Program Fee
|
|
| Non-refundable deposit | $500 |
| Tuition and educational costs | $0 |
| International health insurance | $0 |
| Housing and/or meals | $0 |
| Transportation (if required and included in program fee) | $0 |
| Total Program Fee | $500 |
| Program discount for University of Minnesota and Big Ten students, if applicable | $0 |
| Total Program Fee with discount, if applicable | $500 |
Estimated Additional Expenses
|
|
| Costs Typically Incurred Prior to Departure These costs may need to be paid before your financial aid is disbursed for your term abroad. | |
| Transportation to and from program siteinternational flight | $1,300 |
| Passport/photos | $150 |
| Visa/required documentsUK ETA for U.S. citizens | $15 |
| Travel clinic/immunizations* | $0 |
| Housing deposit | $0 |
| Total Estimated Cost Incurred Prior to Departure | $1,465 |
| Costs Typically Incurred After Arrival in Host Country | |
| Texts/materials | $0 |
| Housing and/or meals not included in program feedaily breakfast and some meals included | $300 |
| Essential daily living expensesinternational phone charges, laundry, etc. | $100 |
| Total Estimated Cost Incurred After Arrival in Host Country | $400 |
Total Estimated Cost of Participation
|
|
| Total Estimated Cost of Participation | $2,365 |
| Spending money and personal travel Not included in financial aid calculation | $200 |
| Additional Notes & Information | |
| * Immunizations Note: This estimate is based on approximate cost of travel-related vaccinations and medications required for entry or recommended by the Centers for Disease Control and Prevention. Your costs may be higher or lower depending on your travel clinic, the specific immunizations and medication prescribed, and your insurance coverage. | |
Prepare
Be aware: All programs require a $50 application fee. This fee will be charged to your student account upon submission of an online application.
Current US passport processing times are longer than normal. If you do not have a passport, or your passport expires less than 6 months after your return date from your time abroad, apply for a new passport now.
Apply
The COVID-19 vaccine series is strongly recommended, pursuant to CDC guidelines, but not required for participation in this program.
You will be charged a $50 application fee for each application you submit.
Application Deadline: December 1, 2024
Admissions Process
Prerequisite: current or former Funds student (BA 4501, BA 4502, MBA 6501, or MBA 6502))
If there is limited space available, applications will be prioritized as follows:
- MBA students graduating Spring 2025
- MBA students graduating Spring 2026
- Carlson Undergraduate students graduating Spring 2025
- Carlson Undergraduate students graduating Spring 2026
- All other graduate/undergraduate students (those who do not have international experience requirement)
Within each priority group, placement will be first come, first served. All admissions decisions will be announced at the same time, after the application deadline.
Complete
When you submit your online application, you will be assigned an application checklist that includes:
- First Step session
Next Steps
- After you complete all required application checklist items, you will receive an automated email message indicating your application is ready to be reviewed.
- Your completed application will be reviewed by the program leader in the sponsoring college/department.
- If admitted, the Confirmation & Payment Agreement form will be added to your checklist. Complete this form to secure your spot on the program. By submitting the form, you also give your approval for the program deposit to be billed to your UofM student account.
- Complete the confirmation checklist, which include the following items in additional to program-specific forms:
- Passport Information
- Emergency Contacts
- Health Information Form
- Online Health & Safety Orientation
- Release & Waiver
- You will receive information about additional steps from the sponsoring college/department.