of self-funded mBA students attending SFu?
There’s no easy answer. I’ve thought about it
and we discuss it internally all the time. The
paradoxical situation relating to universities is
that we are in general a very solid counter cyclical
business. When times are bad, more people go
to universities, including business schools. For
example, I’ve just heard that Harvard’s incoming
class is larger this year.
In principle then, we do expect an upswing in
the number of self-funded students. However, it’s
quite difficult to ascertain whether it is a result of
the current economic climate or a result of our
reputation, which is becoming more widespread.
From a global perspective, we are also expect-
ing an upswing, although the effects of the
crisis on foreign students are somewhat harder
to predict. But here again, for us, it’s somewhat
harder to distinguish the effects of the econom-
ic crisis from the impact of having started new
programs that are getting some traction in the
global marketplace.
Matters might be somewhat different for pro-
grams, such as the EMBA, which are the least
likely to be self-funded. But so far the EMBA
numbers are stable, so that overall, I expect enrol-
ment to increase for our graduate programs.
Given the number of finance professionals
we service, your graduate finance programs
(Global Asset and Wealth management
mBA; master of Financial Risk management
(mFRm)) really piqued my interest. These
programs include a student-run investment
portfolio, which you claim is one of the largest
student-managed funds in north America.
What impact has the global economic
downturn had on the aforementioned
portfolio and what lessons have been learnt
as result? As mentioned above, while our
numbers have remained stable or have increased
overall, interestingly, we have observed a shift
within programs. There has been a significant different directions. We are exploring ways to re- for the last 3 months 11.9 vs. a benchmark of
decline in enrolments for the Global Asset position the programs, perhaps even to combine 11.28. The benchmark is determined by a board
and Wealth Management MBA (GAWM) them, but it appears that risk management is the of advisers and is set against balanced funds in
and a corresponding consequential increase in area of focus, not surprisingly. the real world.
enrolments for the Master of Financial Risk
Management (MFRM). Total enrolments have Turning now to the student managed fund; it’s i notice that you offer an mBA, which is
increased, and the shift towards financial risk one of the largest of its kind in North America. geared to individuals with less than 5 years
management has certainly helped. This trend is The students have consistently met or exceeded of professional work experience. Am i right
being analyzed. their benchmark over the five to ten year pe- in thinking that the bar is set much higher
riod in which the fund has been operating. Ex- for your Executive mBA program? The MBA
The programs are linked to the extent that, dur- amples illustrate; the five year ROI was 3.99% is our newest program. As a condition of entry,
ing the first several semesters, students study a vs. a benchmark of 3.54%. Over the last year it does not require a business education, and
common subject matter: after that they go off in ROI was -13.26 vs. a benchmark of -13.63, and only limited business experience. The program
50 | CEO
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