By: Steve Zimmer
Contributing Writer
Club Activity
Over the past two weeks, members of SIMM have been working to prepare SIMM’s semi-annual report. Reports for both the Equity and Energy Fund are distributed to our advisory board, alumni and any other interested party. The reports for the Equity and Energy Fund highlight fund performance compared to various benchmarks, as well as disclosing size and style diversification, asset class allocation, regional allocation and sector allocation. Specifically for the Equity Fund, each sector puts together a write-up detailing sector performance, individual stock performance within that sector and thoughts on the sector going forward. The Energy Fund discusses trades made throughout the year and provides their opinion on the energy commodity markets going forward. If interested in reading SIMM’s semi-annual reports, visit our website at www.bonasimm.org.
Bona Alum Aids Citigroup in Passing Fed Stress Test
Three weeks ago, it was announced that Citigroup passed the Fed’s stress test with flying colors. The stress test was formed after the financial collapse of 2008 as a way for the Fed to determine whether firms can withstand losses while still paying dividends, buying back stock or making acquisitions. Michael Corbat, Citigroup’s chief executive officer who staked his job on passing the stress test after failing 2014’s test, asked Bona alum Eugene McQuade, ’71, to stay on with the firm to assist in preparation for the stress test.
The news of Citigroup passing their stress test made news across all major financial media outlets and McQuade was regarded as a key individual in Citigroup’s success across multiple articles. Citigroup performed nearly the best amongst the 31 banks tests. As a result, executives from Citigroup announced an increase in their quarterly dividend to 5 cents per share and buy back as much as $7.8 billion of stock during the next five quarters.
If interested in joining SIMM next year, it is available as a class or as an extracurricular activity. Any major and all experience levels are welcome. Researching companies and presenting recommendations provide education that can’t be found in any other class. If interested, feel free to contact Equity Fund manager Steve Zimmer at zimmersm11@bonaventure.edu.
