KENNESAW, Ga. | Nov 24, 2025

Kennesaw State University’s Student Managed Investment Fund (SMIF) recently earned a major victory, taking first place at the 2025 Southeast Regional CFA Ethics Challenge hosted at Emory University’s Goizueta Business School. The win marks a return to the top for Kennesaw State, which last claimed the title in 2021.

The team—Jennifer Remer, Carolina Julian, Matt Hammer, and Quinn Skurpski—competed under the guidance of Govind Hariharan, Chair and Faculty Advisor to KSU SMIF and longtime advisor for the CFA Ethics Challenge teams. Facing strong contenders from other universities across the state, KSU’s students distinguished themselves with their analytical depth and teamwork.

“We tried to approach it with an understanding of what winning teams did before us that set them apart,” said team leader Jennifer Remer. “We didn’t want to reinvent the wheel, but we wanted to be sure we set ourselves apart, taking away what they did and how we could build on that.”

The challenge required students to examine a case involving a hypothetical firm faced with ethical dilemmas similar to what they would see in a real firm, identify potential violations of the CFA Institute’s Code of Ethics, and propose practical solutions to prevent future issues. This year, students investigated a case where investment bank employees failed to adhere to key CFA principles—putting clients first, preserving market integrity, and managing conflicts of interest appropriately.

Hariharan noted that success in the Ethics Challenge involves far more than understanding the rules—students must apply ethical frameworks under pressure, collaborate efficiently, and present their analyses before industry professionals.

“The students worked very hard on getting the trophy back,” Hariharan said. “Within a short period of time, they completed their analysis of the case and then focused on rounds of mock presentations to sharpen their delivery.”

Remer also credits the team’s victory to their polished delivery, as well as the mindset and skills they learned from regular SMIF activities.

“I strongly believe that our presentation skills set us apart in this competition,” she said. “In SMIF, we are expected to be prepared to answer any and all questions about our research. Analysts are told, ‘If it is in the report, it’s fair game for a question.’ Having this expectation already set in our own minds, the team prepared diligently to answer any questions about the case.”

Since its founding in 2010, SMIF has grown from a cohort of 10 students to more than 65 carefully selected members. The student-run fund has expanded its assets under management from $100,000 to nearly $500,000, and its peer-to-peer development model has produced graduates who go on to prestigious firms such as JPMorgan, Goldman Sachs, Wells Fargo, Morgan Stanley, and Home Depot. According to Hariharan, these accomplishments—and the continued support of alumni and industry partners—position SMIF for even greater success.

“As we branch into new asset classes and forge new partnerships,” Hariharan said, “the opportunities for our students to showcase their best through hard work will only keep growing.”

Remer hopes the win brings renewed visibility to SMIF, growing the organization and showing fresh faces the achievements they can attain by participating.

“There is so much more opportunity for students to find interest and passion within SMIF and continue to learn,” she said. “SMIF has been an invaluable experience for me, and I really look forward to the program developing an extended reach to provide an even greater impact for other students at KSU.”

Story by Casie Wilson