SMIFC History

As part of a grant from the Lilly Endowment, Dr. Brien Smith, Dean Scott college of Business and Dr. Tarek Zaher, professor of Finance co-founded the Student Managed Investment Fund Consortium (SMIFC) in July of 2013. The Consortium was formed from a group of schools that have an active student managed investment fund (SMIF).

The purpose of this consortium is to enhance student learning and scholarship, record best practice in investment management among the Consortium partners, provide a vehicle for student networking and exchange of ideas, and provide a permanent repository of relevant literature and recorded student experiences. The Consortium focuses on student leadership and research. Outside of student competitions, few institutions have staked a leadership position in this area.

In July of 2013, the Consortium had 18 members, in 2018, that number had increased to 69, and in 2021, SMIFC  had 114 member institutions.

A paper written by Dr. Zaher and dean Brien Smith appeared in the October 2018 issue of The Journal of Global Business Management (Volume 14, Number 2) that discussed the History, Activities, Benefits and Challenges of the Student Managed Investment Fund Consortium (SMIFC).

Brien N. Smith

Ex-Dean, Scott College of Business, Indiana State University

Brien Smith

Dr. Brien Smith attained his PhD in industrial/organizational psychology in 1989 from Auburn University. He has over 25 years of administrative experience in higher education and has actively participated in university governance. Smith previously worked at Ball State University where he served a number of roles including associate dean, chair for the Department of Marketing and Management, and director of business graduate programs.

While at Indiana State, the college of business has experienced marked growth in undergraduate and graduate enrollments. Dean Smith has secured nearly 10 million dollars in grant funding for new and existing programs in the college. Under his direction the college developed the Student Managed Investment Consortium with over 30 university affiliates. The college continues to be recognized as a thought leader in insurance and risk management, hosting the Insurance Public Policy Summit in Washington, D.C. each year. Smith has published numerous articles in refereed proceedings and journals, including many of the most highly acclaimed journals in his field: Journal of Applied Psychology, European Journal of Operational Research, Journal of Business and Psychology, and Journal of Applied Social Psychology. He has delivered presentations and speeches at national and international conferences.

Dr. Smith has a strong interest in psychological applications to the workplace, and draws heavily from his organizational psychology background. His 2004 article, “Transformational and Servant Leadership: Content and Contextual Comparisons” in the Journal of Leadership and Organizational Studies has been cited hundreds of times in journal articles, periodicals, and books.

Tarek Zaher

Professor of Finance, Scott College of Business, Indiana State University

Tarek Zaher

Dr. Tarek Zaher is a professor of Finance at Indiana State University. He has also held a number of professional positions with the industry and provided consulting services to a number of international institutions including the World Bank, the William Davidson Institute at the University of Michigan, and the Academy for Educational Development in the United States and the Ministry of Work in Dubai. He has also offered a number of seminars in investment and international financial management at a number of institutions around the world.

Dr. Zaher is the supervisor of the investment club at Indiana state university. He also manages and supervises other international portfolios for individuals and institutions. Dr. Zaher’s research has been published in numerous prestigious professional and scholarly journals, including the Journal of Financial Research and Journal of Banking and Finance. Dr. Zaher received three research awards from professional conferences and one research certificate of excellence. He was also recognized by the Scott College of Business as the winner of the faculty research award in 2002 and the winner of the exemplary service award in 2004.


Student Managed Investment Fund Consortium (SMIFC)

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Tarek Zaher 
Coordinator and co-founder of the SMIF Consortium
Professor of Finance
Investment Club Advisor
Scott College of Business
Federal Hall, Room 321
Indiana State University
30 N. 7th St., Terre Haute, IN 47809
Phone: 812-237-2093

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