FMA Magazine 2021 - 2023

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Performance Analytics ASIF vs. S&P 500 Cumulative Return October 2017 - December 2021 S&P 500 ASIF 1-Yr Return 2-Yr Return (Annualized) 3-Yr Return (Annualized) 24.61% 27.94% 19.53% 20.48% 19.18% 18.46% 2021 Risk-Adjusted Performance Measures As of 12/31/2021 Beta - 0.81 Sharpe Ratio - 268.0% Treynor's Measure - 33.8% Jensen's Alpha - 7.84% 3-Factor Alpha - 12.5% 4-Factor Alpha - 14.2% Information Ratio - 62.4% Sortino Measure - 236.9% 70 FMA 2021-2023 MAGAZINE 2021 Performance Summary
2021 Investment Rationale 2021 marked the completion of a shift into an equities-only portfolio, which coincided with an exceptional year for the equities market as the economy continued to recover from the setbacks of COVID. This combination was the driving force behind ASIF's best performance since inception. Our portfolio reached a peak value of $618,593 as of December 31, 2021. 2021 was also a record year in donations. We received a total of $72,737, which is the most received since the original seed capital of $250,000. Because of the sudden influx of donations, we made several transactions in May as we sought to deploy the excess cash and allocate appropriately among our different investment sectors. We took this opportunity to invest in two new businesses - BJ's Wholesale and Salesforce. BJ's Wholesale significantly outperformed analyst expectations since the time of our investment. A mix of macro factors, the company's unique positioning and their initiatives drove share gains in 2021. Looking forward, we believe the company is well-positioned in the event of a downturn because of the growth and the stickiness of its membership income. Salesforce benefitted from an increased enterprise IT spend that was prioritized toward digital transformation in 2021. Its share price began to move downward at the end of the year amidst the widespread tech sell-off and partly due to the company's acquisition of Slack Technologies. 2021 Investment Decisions January: Sold Alibaba March: Sold Gilead Science May: Increased position in Estee Lauder Sold Lockheed Martin Increased position in NVIDIA Increased position in Alexandria Real Estate Increased position in Waste Management Bought BJ's Wholesale Club Bought Salesforce Increased position in Medical Properties Trust Increased position in Mastercard Sold IPG Photonics Sold Alphabet Sold Truist Sold Boeing Increased position in Johnson & Johnson Increased position in Microsoft Sold Tyson Foods October: Sold Illinois Tool Works 2021 Performance Summary FMA 2021-2023 MAGAZINE 71
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FMA 2021-2023 MAGAZINE 1
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FINANCIAL MANAGEMENT ASSOCIATION
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MESSAGE FROM THE DIRECTOR FROM THE
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MESSAGE FROM THE CO-PRESIDENTS CO-P
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We are involved ambassadors that co
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Corporate Headquarter Visits Bank o
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FMA RESOURCES ASIF hosts members of
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FMA RESOURCES OVERVIEW Since its in
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Work Hard... FMA 2021-2023 MAGAZINE
Page 19 and 20: FMA 2021-2023 MAGAZINE 19
Page 21 and 22: A LOOK AT OUR STUDENTS Rachel Turle
Page 23 and 24: One of the most rewarding aspects o
Page 25 and 26: A LOOK AT OUR STUDENTS A Birmingham
Page 27 and 28: A LOOK AT OUR STUDENTS FMA SAYS “
Page 29 and 30: FINANCIAL LAB After years of planni
Page 31 and 32: EXPANDED PROGRAMMING magazine’s p
Page 33 and 34: EXPANDED PROGRAMMING FMA 2021-2023
Page 35 and 36: In 2022, we hosted Stephen Davis, f
Page 37 and 38: Leadership Program PARTICIPATIONS F
Page 39 and 40: Leadership Program Highlight and pe
Page 41 and 42: FMA students represented FMA in eig
Page 43 and 44: CASE COMPETITIONS NICK While we are
Page 45 and 46: presentation, an absolutely great v
Page 47 and 48: INTEGRATED EARNINGS For the sixth y
Page 49 and 50: HARBERT’S SPRING GRADUATION MARSH
Page 51 and 52: AWARDS & SCHOLARSHIPS WESLEY LOWMAN
Page 53 and 54: RECOGNIZED FACULTY LEE COLQUITT REC
Page 55 and 56: ALUMNI RECOGNITION This year Yellow
Page 57 and 58: Through collaboration, support, and
Page 59 and 60: FMA 2021-2023 MAGAZINE 59
Page 61 and 62: 2022 FULL TIME PLACEMENTS AYCO - At
Page 63 and 64: MASTERS OF THE FUTURE JOHN TAPP COL
Page 65 and 66: Our Investment Team Meet the dedica
Page 67 and 68: Letter from the 2023-2024 CIO, Wesl
Page 69: 2021 Performance Quarterly Portfoli
Page 73 and 74: ings reds Portfolio holdings As of
Page 75 and 76: Performance Analytics ASIF vs. S&P
Page 77 and 78: 2022 Investment Rationale We also s
Page 79 and 80: model and Fund until position exit
Page 81 and 82: ALUMNI UPDATES Abigail Coleman ’2
Page 83 and 84: Drake Pooley ’16 graduated with a
Page 85 and 86: Joe Patching was promoted to risk a
Page 87 and 88: FROM CONCEPT TO CREATION We want to
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FMA Magazine 2021 - 2023

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