Students Initiate the Carnelian Fund in RE Securities and Funds Class
Cornell graduate students have the opportunity to manage a portfolio of publicly-traded real estate securities in a new class, Investment in Real Estate Securities and Funds. The student-managed fund, named the Carnelian Fund, differs from other student-managed portfolios in that is consists only of real estate securities. The year-long class is a collaborative effort by graduate students from Program in Real Estate, the Johnson School and Hotel School and is taught by Professors John Corgel and Crocker Liu of the School of Hotel Administration. “After years of student requests for a course focused on real estate securities, we are excited to offer this class, providing students a ‘hands on’ opportunity to trade stocks and manage a portfolio of real estate securities”, said Professor Corgel.
The class meets in the Johnson School’s Parker Center for Investment Research, providing students with world-class facilities and state of the art technologies. The primary objective of the class is to promote sound real estate investment decision-making. Through actively building and managing a portfolio of real estate securities, students focus their attention on fundamental research in property and securities markets, making initial investments in real estate companies and funds, executing trades in positions held in the portfolio and developing and testing trading strategies.
Through exposure to broad literatures on real estate securities, fund investing, trading strategies and hedging, students will learn and apply advanced methods of investment management and securities trading with special applications to real estate securities. “All asset-classes of real estate securities will be analyzed by student fund managers, including residential, commercial, and hospitality,” stated Professor Crocker Liu. Student Tyler Grooms said of the class, “I am grateful for the opportunity to be a student fund manager of the Carnelian Fund; this class allows students to play an active role in the success of a real estate securities portfolio and gaining real-world knowledge.”