History
In October 2004, three students initiated and completed a research project for the purpose of starting a fixed-income investment fund operated entirely by students. The Virginia Tech Foundation (VTF) was impressed with the students' idea and encouraged the students to continue the development of this program. In February 2005, additional students were recruited to continue the research and development of what would become known as Bond And Securities Investing by Students (BASIS). In April 2005, an interim proposal was submitted to VTF giving the BASIS structure that was envisioned. The plan was given preliminary approval by VTF, Pamplin College of Business, and the Finance Department. BASIS recruited another group of students in December 2005 as it edged closer to submitting its final proposal to VTF. BASIS presented its proposal to the VTF officers in late March and made its final presentation to the Investment Committee in May.
As of May 4th, 2006, BASIS's proposal to manage 1%, or $4.1 million, of VTF's endowment fund was approved.
Going Forward
BASIS enters the Fall 2008 semester with great excitement to continue to manage its fixed-income portfolio. BASIS will continue to actively pursue its strong performance, and hopes to continue to perform among the top 8% of funds compared to its Merrill Lynch index. As recruiting begins, we invite any student with an interest in financial markets, enthusiasm, and an entrepreneurial disposition to apply for the group!