By: Asher LeVos
Hayden Kobza
On Oct. 31, 2025, Southern Adventist University’s Student Managed Asset Risk and Return Training (SMARRT) Fund exceeded $1 million in investments, according to a fourth-quarter, 2025 SMARRT Fund report.
The portfolio, which is run by business students, was created in 2019 from $500,000 from Southern’s main endowment, according to a press release from Marketing and University Relations (MUR). The earnings are put towards scholarships and campus projects at Southern, the release stated.
“One word to describe how I feel about this monumental milestone is ‘blessed,’” Jonathan Amarandei, former president of the SMARRT Fund team, said in the press release. “I’m beyond blessed to have had the privilege of being a part of such a talented group of individuals.”
The Accent reached out to Amarandei but did not receive a response.
According to former Chief Investment Officer (CIO) Glenn Grakov, a senior finance major at Southern, the SMARRT Fund exists to help business students gain practical experience in financial investment by managing and investing real money.
“I got to spearhead discussions with our sponsor, [and] with the rest of our team on the portfolio management committee, to decide where we’re going,” said Grakov. “I would analyze and try to determine when the right time is to sell a stock, when the right time is to enter a stock and so forth.”
Grakov said that students select investments and strategies based on their own research as well as guidance from the SMARRT Fund sponsor, who is also a School of Business professor.
“Our sponsor, Dr. Joelle Akiki, has been absolutely fabulous [to work with],” said Grakov. “She’s on our portfolio management team and guides us through the process of selecting what investments we make.”
The Accent contacted Akiki but did not receive a response.
Ellen Hostetler, vice president for Advancement at Southern, stated in an email to the Accent that programs similar to SMAART are usually only for graduate programs and students who work at the fund have a special arrangement.
“The SMARRT fund has been a stellar financial performer,” Hostetler stated. “The outcomes are reported at each meeting of Southern’s Endowment Board, and its members are very pleased with the performance of the students and their leadership.”
Strategy and Structure
A Southern Adventist University press release outlined the strategy employed by the SMARRT Fund team. According to the press release, last school year, the team “switched from investing in exchange-traded funds to single-equity stocks.” With this strategy, SMARRT experienced a return rate close to double that of the S&P 500 and outperformed several major hedge funds, according to a September and October 2025 report provided by SMARRT.
Speaking regarding investment approaches and accomplishments, Grakov pointed out the recent returns from investments.
“When I became chief investment officer, the portfolio was around $740,000, and we were able to grow it to a million dollars within a year,” said Grakov.
According to Grakov, there are two categories within SMARRT. Six executives manage money as members of the portfolio management committee while student analysts work under them. SMARRT Fund analysists learn skills through a training class, which is offered at the beginning of every semester, and obtain Bloomberg certifications.
The New York Institute of Technology website states that Bloomberg certifications serve as an introduction to financial markets and practices. The program takes approximately eight hours to complete and covers economics, currencies, and fixed market equities. Students who complete the certification are more likely to stand out when applying for entry-level financial service positions.
Senior finance major Alicia Garver, who served as the former vice-president of secretary of duties and is the current vice-president of development, offered her perspective on Bloomberg certifications.
“A Bloomberg certification opens so many doors,” said Garver in an interview with the Accent. “It was one of the number one things interviewers wanted to talk to me about, which opened the doors to talk about how we were part of managing actual funds. Not a lot of other college students can say they have had actual experience and proven growth of their funds.”
Eventually, the top performing analysts have the opportunity to join the portfolio management committee. Grakov said that these positions offer students experience, helping them discover the career path they wish to pursue.
Garver shared how her experience with SMARRT shaped her skill sets.
“Not only has it helped me in finding a job, but it’s made me a more polished individual in terms of being able to connect with people in our community [and] to be able to connect with people in similar fields to me,” said Garver “It has taught me to learn from people in a way I didn’t know was possible before.”
Garver said she initially joined SMARRT for the class credit, because three semesters of SMARRT substitute for an upper-division finance class. Additionally, Garver believed it would benefit her to understand how to multiply her money outside of the classroom. Garver emphasized that her experience at SMARRT benefited her personal investments.
“I have learned the fundamentals of investing and how to invest with my faith, which was a big part of SMARRT for me,” said Garver. “So, in my personal portfolio, I’ve seen greater returns since joining SMARRT.”
Sarah Chobotar, a sophomore accounting major, shared her perspective on SMARRT as a student analyst.
“You’re put in a group [of student analysts] with an executive, so if you have questions, you can ask for help, and you work together as a group to do different projects,” said Chobotar. “We did one where we picked a company and did an evaluation of their stock. We got to pitch to the group what company in a certain industry we should invest in.”
Current student President of the SMARRT Fund, Ethan Demaree, a Finance major, told the Accent in an interview that when the new Ruth McKee building opens, the focus of the project will be to grow the portfolio’s presence on campus. According to Demaree, the project will strive to develop “Christ-centered equity analysts.”
“Our goal is to make every student’s time here [at SMARRT Fund] impactful so they are fully prepared to excel in their future careers,” Demaree said.
