Applied portfolio management program

Applied Portfolio Management Program

The Applied Portfolio Management Program is a student-run investment program, centred around education and responsible investing. The program provides students with investment education, hands-on experience, and industry exposure. As part of the program, students manage a pool of real money, in close coordination with industry and academic support, while building tangible investment management experiences. The full-year course is taught by industry professionals who are CFA Charterholders.

The Applied Portfolio Management Program is a collaboration between CFA Society Victoria, CFA Institute, UVic Continuing Students, UVic Economics and the Peter B. Gustavson School of Business.

Applied Portfolio Management Program 2018 Annual Report [PDF]

Students begin by taking the Applied Investment Management course, a non-credit course delivered by UVic Continuing Studies. The course is taught by practicing industry professionals and focuses on the application of theoretical finance to real-life scenarios. Through the course, students develop the foundational skills necessary to manage investment assets.

Upon completion of their coursework, students apply to manage the program’s investment portfolio, providing them with real-world experience in investment research and making investment decisions. Once accepted, students enter into a directed studies course and their activities are overseen by an investment advisory committee comprised of industry professionals and UVic faculty members.

The intensive program provides students with applied investment management education, skills and experience. This helps the recruitment efforts for local firms, such as BCI, and identifies potential future candidates for future CFA Charterholders.

Students enrolled in the Applied Portfolio Management Program learn:

  • Investment management policy
  • Fiduciary duty
  • Investment management ethics
  • Asset allocation
  • Performance measurement
  • Client reporting
  • Trading, compliance and cash flow management
  • Risk-management
  • Modelling and forecasting
  • Equity and fixed income valuation
  • Security analysis skills including: credit risk, legal, tax and regulatory risks, ESG practices and capital structure

The Investment Advisory Committee is comprised of industry professionals and academics who provide oversight and guidance to the student investment decision making process.

Jennifer Coulson, vice president, ESG Integration, BCI

Jennifer joined BCI in January 2012 as a manager of shareholder engagement and is currently vice president, ESG integration, overseeing the proxy voting and engagement with issuers on ESG risks. Prior to that Jennifer was at NEI Investments for 10 years working in the ESG field. Jennifer holds a BA from the University of Western Ontario (UWO) in Geography and a Master of Environmental Studies from York University.

Andrew Coward, CFA, treasurer, University of Victoria

Andrew has worked at the University of Victoria since 2004 and is the treasurer of the University of Victoria and the University of Victoria Foundation. He also is a member of the investment committee on the University of Victoria Staff Pension Plan. He holds a Bachelor of Commerce with a Finance and Risk Management concentration from the University of Calgary as well as the Canadian Risk Management Designation through the University of Toronto. Andrew earned the CFA designation in 2011 and is serving his second term on CAUBO’s Treasury and Investment Committee.

Kenton Freitag, CFA, director, Credit Research, BCI

Kenton is responsible for providing credit opinions and research to all asset classes at BCI. Prior to joining BCI, Kenton worked as a corporate credit analyst for S&P in Toronto, a loan officer for Export Development Canada in Ottawa and a policy analyst for the Department of Finance in Ottawa. Kenton holds a Bachelor of Commerce from Queen’s University, a Master of Economics from UBC, and a Chartered Financial Analyst designation. He is on the Board of Directors of the Canadian Bond Investors Association.

Jordie Hutchinson, CFA, portfolio manager, BCI

Jordie joined BCI in 2007 as an Analyst in Consulting & Client Services and moved to Public Equities in 2008 where he served in a number of different roles, most recently as a portfolio manager on the Canadian Equity Team. Jordie graduated from the University of Calgary with a BCOMM in Finance and a BA in Economics and received his Chartered Financial Analyst designation in 2011.

Dixie Klaibert, CFA, partner, Beacon Hill Wealth Management

Dixie launched Beacon Hill Wealth Management in 2014, an independent office of Raymond James Ltd., specializing in cross-border asset management solutions. Originally from Victoria, Dixie left to work on the trading floors of New York and London, as a VP in credit trading, managing credit derivatives and corporate bonds for Merrill Lynch and then Bank of America Merrill Lynch. After a tour around the world, she is happy to be home. She holds a BComm (Hons) from the UBC Sauder School of Business, where she graduated from the UBC Portfolio Management Foundation as a Leslie Wong Fellow.

Johann Kuntze, MA, CFA, senior economic and investment analyst, BCI

Prior to joining the Investment Risk, Strategy & Research team, Johann was part of BCI’s Consulting & Client Services department, assisting clients with more than $19 billion in assets meet their investment goals. Johann has over 10 years of experience in economic analysis and forecasting. Johann holds a Bachelor of Science and Master of Arts degrees in Economics from the University of Victoria, as well as the Chartered Financial Analyst designation.

Dr. Sorin Rizeanu, professor, University of Victoria

Sorin has worked with UVic since 2010 and is an assistant professor in international finance. He holds a M.Sc. in Applied Statistics from University of Bucharest, an International MBA from the University of South Carolina, and a Ph.D. in International Finance from the University of South Carolina. His active research helps investors better valuate firms and understand firm’s internal, external and regulatory dynamics. His research focuses on corporate governance and international finance, with publications in journals such as Contemporary Accounting Research, Emerging Markets Review, Journal of Management and Governance.

Charles Volkovskis, CFA, senior portfolio manager, BCI (retired)

Charles started working with OCIO (BCI precursor) in January 1996 and retired as a senior portfolio manager in March 2015. As a senior portfolio manager, Charles oversaw four staff and four Public Equity Funds as well as contributed to Investment Strategy and Organization initiatives. Charles’ academic background includes B.Sc. (Physiology) and DBA (1 year MBA) from the University of Toronto, as well as the CFA designation.

Dr. Graham Voss, professor and chair, Economics, University of Victoria

Graham is a professor in the Department of Economics at the University of Victoria. He has a BA (Honours) from the University of Victoria, an MA from McMaster University and a PhD from Queen’s University. He began his academic career in 1991 at the University of New South Wales, Australia where he taught until 1998. He then joined the research department at the Reserve Bank of Australia as a senior economist where he worked until joining the University of Victoria in 2001.

For more information about how to make a gift, or become involved with the Applied Portfolio Management Program, please contact Senior Development Officer, Amanda Taylor

With your support, we can continue to provide University of Victoria students with experiences that enrich and enhance their education.