QUIC is Canada’s premier student-run asset management organization, managing a portfolio of $600,000 on behalf of the Queen’s School of Business. Here’s how it all started.
The Queen’s University Investment Club was founded in 2003 as an organization to help students further their understanding of portfolio management and real-world finance. It was established with the same three goals it pursues today: to educate students, outperform the market, and bridge Queen’s students with the finance industry.
From 2003 to 2010, the QUIC team managed a mock portfolio, investing in both equity and debt securities. Over this time period, the portfolio returned 73.4%, outperforming its benchmark index by 23.6%. The Club also worked to further the professional development of all students within the Commerce program, assisting in interview preparation by offering mock interviews to students. Weekly Club meetings were open to all Queen’s University students.
In 2009, QUIC began its fundraising initiatives as members conducted exam-review tutorials for Commerce Students, raising over $13,604 in the process. The fundraising effort culminated in 2010 when the Queen’s School of Business contributed seed money to reach a total of $500,000 in initial capital.
In this transition, the Queen’s University Investment Club became the Queen’s University Investment Counsel – an Educational Program of the Queen’s School of Business, which highlights the partnership between the School of Business and our team.
A Board of Directors, consisting of faculty and staff at the Queen’s School of Business, was established to oversee the fund’s investments and provide guidance to the Counsel’s executive. An Alumni Council, consisting of six Queen’s Commerce graduates who had been involved with QUIC, was also established to mentor members and guide the executive. In 2011, a third governing body – the Advisory Board – was created consisting of prominent members of the finance industry to help guide QUIC and act as a bridge to the finance industry.
QUIC’s tradition of student leadership, mentorship and hard work has created a solid foundation as we continue to grow into the next stage, making history as we go. In September 2010, QUIC opened an account with CIBC Wood Gundy.