1. Rick Spillane, CFA October 25, 2012
Babson College Fund
Rick Spillane, CFA
October 25, 2012

2. Presentation Outline 1. My Background 2. BCF 2011/2012
3. Investment Philosophy
4. New Recruiting Strategy
5. Q+A

3. My background RPI, Chemical Engineer; Harvard MBA
Eaton Vance Management,
Analyst and Portfolio Manager
Fidelity Investments,
Director of Research
Chief Investment Officer (US and Europe)
Head of Strategic Advisers (Fidelity’s RIA)
BABSON FACULTY 2007-PRESENT

4. What is BCF? BCF runs a portion of the Babson Endowment
22 Students (undergrads and MBA’s)
The objective is to beat the S+P500
Long/ short portfolio of Equities
Fully invested (market timing not allowed)
Heavy Focus on investment analysis (stock picking)
MEETINGS ARE MONDAY NIGHTS 6:30 TO 9:00 PM
One Friday seminar per semester

5. Investment Philosphy Market Timing High Style Timing Size Timing
Impact On Return
Sector Selection
Stock Selection
Low
Probability Of Success
Low
High

6. Annual data from 1986 through 2008
The State of the Market
December 21, 2004
Annual data from 1986 through 2008
This document contains time-sensitive proprietary and confidential information that is the sole property of Fidelity Management & Research Company (FMRCo). Any opinions expressed in this material are those of the author only, not of Fidelity Investments, and are subject to change at any time due to market or other conditions. Past performance is not a guarantee of future results, is shown for informational purposes only, should not be construed as an offer or recommendation for any security, and is not indicative of any specific security performance.
Fidelity Investments

7. Sectors Executive Portfolio Managers Consumer Basic Materials/Energy
Industrials
Healthcare
Utilities/Telecom
Technology
Quantitative/Risk Management

8. What do you do? Follow your sector closely
Buy and sell stocks in your sector
Work in a team of 1-2 other managers
Write 9 research reports per semester
Write a Semester Report

9. Visits/ Guest Speakers
Teams met with a counterpart at Fidelity this fall
Guest speakers at the meetings. In the last year the following have been guest speakers
Fidelity CIO
Hedge Fund managers (3)
President of Northfield
Fed official, former BCF student

10. Executives in Residence
Warren Johnson, CFA
Hugh Crowther
Jim Spencer, CFA
Rick Mace
Charles Mangum
Chris Stix
Mike Dunn
Pratima Abichandani

11. Why you should do this
You will learn a lot about fund management and stock analysis
You are investing REAL MONEY
You will work hard, but learn a lot
This is as close to real world investment management as possible
You earn class credits for two semesters
Enhanced Job Prospects in the Investment Management Industry

12. New Recruiting Approach
Designed to “even out” the number of students on the fund during the year so everyone does not stop and start at the same time
Fall: recruit 2 year MBA’s, Junior Undergrads with a December graduation date, Evening MBA’s
Spring: Junior Undergrads with a May graduation date and Evening MBA’s
Summer: One Year MBA’s

13. Key dates Fall 2012: Info session October 24
Applications due November 30
Interviews December 7
Spring Applications due April 4, 2013
Summer Applications due July 17, 2013

14. Application Process Application on BCF Website
spx
Send to Karl Honerlow by Friday November 30, noon.
Interviews on December 7th
You start immediately
NOTE: You must take or have taken FIN 7503 (Equities) if you are an MBA student!!

15. Questions???