A Quiet Giant: Inside Trinity’s Student Managed Fund

Amid the noise of lectures, assignments, and the rhythm of student life at Trinity College, one society continues to grow in quiet but extraordinary ways: the Trinity Student Managed Fund (SMF). For many students, particularly those outside of business and finance, the SMF may seem like a specialist society. In reality, it is one of the college’s most impressive and accessible educational initiatives, offering real-world experience, professional development, and an enduring sense of ambition for students across all disciplines.

Founded in 2010 with a starting pool of just €30,000, the SMF set a precedent as the first student-run investment fund in Europe. Today, it manages over €700,000 in assets under management and boasts a membership of more than 2,000 students. The Fund's extraordinary growth is a testament not only to its financial discipline but also to the clear educational vision that drives it.

At its heart, the SMF operates a real investment portfolio, with holdings in large companies from the United States, Europe, and Japan. Students construct the portfolio themselves, selecting approximately 25 equities and a number of exchange-traded funds. These decisions are not made lightly. The SMF tracks its performance against the MSCI World Large Cap Index, which ensures that students are measured against one of the most widely respected global benchmarks.

The Fund is organised according to the Global Industry Classification Standard, a system used across the professional investment world. Fourteen Sector Managers lead teams of junior analysts focused on areas such as healthcare, technology, real estate, and financials. These managers, supported by senior analysts they recruit and train, are responsible for deep sector research, company analysis, and investment recommendations. Sector Managers spend the summer months in intensive preparation, familiarising themselves with trends, valuations, and key players in their sectors.

One of the Fund’s defining strengths lies in the guidance it receives from its Expert Advisory Board. Comprising some of the most accomplished figures in the Irish and international investment landscape, the Board plays a critical role in ensuring the Fund operates to professional standards. Alan Dargan, Chair of the Board and founder of Lonsdale Capital Partners, brings decades of experience in private equity and corporate finance. Aidan Donnelly, Head of Equities at Davy Private Clients, is widely respected for his market commentary and his work mentoring students through the Davy Pitch Competition. Joseph McCarthy, founder of Islandbridge Capital, and Anthony MacGuinness, Chief Investment Officer at Irish Life Investment Managers, both contribute deep expertise in multi-asset and hedge fund strategies. The Board also includes Sean Kenzie, Co-Head of the Setanta Global Equity Fund, and Andrew Arbuthnott, Senior Vice President at Amundi Pioneer Investments. Together, this group offers students unparalleled access to professional insight, industry feedback, and mentorship opportunities that extend well beyond the undergraduate experience.

The educational mission of the SMF extends well beyond portfolio management. Every year, the Fund hosts a series of major conferences that attract some of Ireland’s and Europe’s most distinguished business leaders. In March 2025, the SMF held three flagship events. The ninth annual Women in Business Conference took place, focusing on leadership, mentorship, and resilience in career building. Speakers included Sonia Deasy, Fiona Gallagher, and Katie Farrell, who shared personal and professional insights aimed at inspiring the next generation of leaders.

The Alternative Investments Conference, held the following evening, featured industry figures such as Aidan Lynch, Patrick Maloney, and Kyran McStay. Discussions covered opportunities in private equity, venture capital, and non-traditional investment spaces, providing students with exposure to areas often left out of traditional finance curricula. Completing the conference season, the Leadership Perspectives Conference brought together high-profile speakers including Louise Phelan, Declan Ryan, Bobby Healy, Tom Lyons, and Aine Cornally, who spoke candidly about their journeys to the top of their respective fields.

These 2025 events built upon a strong tradition. Previous years have seen the SMF welcome prominent speakers such as Orla O’Connor, Leo Clancy, Dee Forbes, and Colin Hunt. Past conference themes have tackled subjects like "Driving Change" in 2022 and "Navigating Uncertainty" in 2023, reflecting the SMF’s commitment to addressing contemporary business and leadership challenges.

Alongside its public events, the SMF provides members with competitive opportunities that develop critical investment skills. The Davy Pitch of the Year Competition remains a centrepiece of the Fund’s calendar. Open exclusively to Junior and Senior Freshmen members, the competition offers students the chance to pitch a company as a "buy" or "sell" idea over a two to three month period. Finalists present to a panel of Davy Stockbrokers employees, headed by Aidan Donnelly, Head of Equities for Davy Private Clients and a member of the SMF Advisory Board. Finalists are given the opportunity to interview for paid internships within Davy’s Private Clients division, an invaluable gateway into the financial industry.

Junior Analysts within the SMF can also take part in the Inter-Sector Pitching Competition. Each sector puts forward its strongest team to compete in a tournament where teams present investment ideas before panels of judges. Teams that progress to the grand final compete not only for a prestigious cash prize but also for recognition within the Fund and the wider college community. The competition demands rigorous research, thoughtful risk analysis, and persuasive presentation skills, offering a real taste of professional equity pitching.

Since 2023, the SMF has also partnered with the Rotman School of Management to host the Rotman x Trinity SMF Trading Competition. The competition simulates real-time market trading and welcomes teams from universities across Ireland and the United Kingdom. Over 100 teams participated in 2024, with the winners securing cash prizes and free entry to the prestigious Global Rotman Trading Competition in Toronto. Sponsored by Virtu Financial and Positive Equity, the event has rapidly become one of the most exciting and practical finance competitions available to students in these islands.

Through all its activities, the SMF remains grounded in a broader social mission. A portion of the Fund’s profits is donated each year to the Trinity Access Programme, supporting students from underrepresented backgrounds and widening participation in higher education.

In many ways, the Trinity Student Managed Fund represents the best of Trinity itself. It combines intellectual discipline with real-world engagement, offers students a platform to test their skills against professional standards, and fosters a spirit of ambition that extends beyond individual success to community enrichment. Whether you are studying business, law, medicine, literature, or anything in between, the SMF proves that serious learning, serious leadership, and serious opportunity are already thriving within Trinity’s historic walls.