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M.A. Wright Fund


What's Happening with the Fund

Class update for the week of April 22, 2002:

The Wright Fund Board Meeting was held at Herring Hall, Room 124 on Thursday, April 25.  Terry Ledbetter, the Fund's outgoing CIO, arranged and delivered an excellent presentation to the board members, Jones School Dean Whitaker, faculty adviser Bala Dharan, adjunct professors Steve Russo and Rocky McAshan, and the rest of the Wright Fund student analysts.

In addition to reviewing performance results, Terry spoke of recent changes to the way the Fund is managed, which have proven very effective in terms of class efficiency and benchmarking to the S&P 500 Index.  Examples include silent ballots for buy/sell/hold recommendations, and a reduction of the Fund's cash position as a percent of the total fund value.  This reduction in the cash position, which was achieved by a change in the way sector weightings were calculated, also caused most all of the sectors to be under-weighted with respect to their S&P target weights.  Consequently, analysts were faced with the daunting task of finding good "buys" for the Fund this semester during a period of economic uncertainty.

As shown by the summary table below, diligence by this semester's analysts combined with solid leadership yielded positive results for the period:

  5 Month* 1 Year* 3 Year*

5 Year*

M.A. Wright Fund 2.0% -9.8% 0.4% 6.1%
S&P 500 Index -4.4% -9.0% -3.1% 9.6%

*Periods ending April 17, 2002 

Click here to view the full PowerPoint presentation made to the Board.


Interviews for prospective student analysts for the Fall 2002 semester were held Thursday, April 18.  New analysts will be notified soon via email as to the outcome of their applications to the class.

Current analysts are required to complete professor evaluations on or before the end of business May 3.  Evaluation forms will be placed in student mailboxes, and completed forms are to be returned to Kathy Spradling.  For more details, refer to Jin Mok's email dated April 26.

Wright Fund Overview

The M.A. Wright Fund was started in 1995 by a generous donation by Mrs. M.A. Wright. Its purpose was to give students a chance for real-world experience of portfolio management and to provide a revenue stream for Jones school scholarships.  The fund is student-run and separated into analyst groups by S&P industry sectors. Ideally, each analyst group is comprised of both 1st and 2nd semester students to provide ongoing continuity.

More About the Fund

Adjunct Professors:

Faculty Advisor:

Student Officers:

Incoming Officers:


Rocky McAshan

Bala Dharan

Terry Ledbetter

Paresh Jain

Chief Investment Officer (CIO)

Steve Russo

Chris Lovisone

Jin Mok

Chief Operating Officer (COO)

John Puckett

Mark Burroughs

Chief Marketing Officer (CMO)

Brent Konstanzer

Sandesh Hegde

Chief Technology Officer (CTO)

Fund Highlights

The Fund uses the S&P 500 as its benchmark, and evaluates the performance of each sector relative to the S&P 500 Index.

Analysts (students) present buy/sell/hold recommendations for their sector or informative portfolio management lectures at least twice a semester.

Analysts use fundamental valuation techniques such as discounted cash flow models, dividend discount models, multiples comparisons, etc.

The Fund will pay out its first scholarships this year from its revenues (or losses).


Student Section


Click here to get the latest free version of:


Wright Fund t-shirts are on sale now!

Sport one for only $10.

Contact Terry Ledbetter.


Link to S&P Sector Data