Impressed by the long equity strategy and returns of an intercollegiate investment club mutual fund, Warren Buffet recently invited the directors of the fund, to meet with him, The New York Sun reports. Called Global Platinum Securities and with $250,000 in assets under management, it is the only intercollegiate fund in the U.S. in which students invest their own money and conduct their own research. Returning 8.6% in 2006, the fund not only beat the S&P 500 Index last year, but also the Nasdaq Composite, the Lehman Bond Composite and Fidelity Magellan, and, as a result, the students are looking to keep the fund running after their graduation.
“Our incentive is to see just how good we can do with the fund,” said Ken Talanian, worked on the fund until his recent graduation from Georgetown. “We want new students to come in and learn like we did. They have extracurricular activities to juggle, so they can spend only so much time with it.”