Millsaps College’s Louis Wilson Fund, a student-led investment portfolio that started at just $50,000 in 1987, recently surpassed the $1 million mark—a milestone that reflects both impressive financial analysis muscle and the dedication of the students who manage it.
The investment fund, with initial dollars donated by the Merrill Lynch Foundation, has evolved into a valuable real-world learning opportunity that sets Millsaps students apart. Under the guidance of faculty advisor Dr. Ken Qiu, students take on the roles of analysts and portfolio managers, applying financial theories and strategies to make real investment decisions.
For Millsaps, this achievement is more than just a financial success—it’s a celebration of hands-on experiential learning that prepares students for their careers like few other programs can.
“The Louis Wilson Fund is managed by students who take the student-managed fund class, it provides them with hands-on experience through the analysis of individual holdings,” said Dr. Qiu. “Not all colleges in the area offer a program like this, and those that do often take a very different approach.”
The fund’s growth has been impressive, with annual compounding returns of over 12% for the last decade—outperforming or at least keeping pace with the S&P 500 while maintaining lower volatility.
“My interest came from the fact that we’re dealing with real money, and our actions can have real rewards or consequences,” explained Clay Busby, an MBA student. “It’s very hard to find opportunities to manage large amounts of money as a student, and even right out of college. Millsaps providing this opportunity to students shows the college’s commitment to academic development and real-world learning. Dealing with real funds is an invaluable experience for any college or graduate student who is looking to find a career in asset management”
Lewis Wilson Fund Students recently presented analysis and recommendations to their advisors and board.
Students follow a disciplined buy-and-hold strategy, focusing on high-quality businesses with sustainable growth potential.
“We each get two different current holdings to analyze and decide whether they will continue to be a good investment in the future, mine are Apple and Polaris, or if we should sell them and find new stocks,” said Bo Gilkison, senior majoring in business administration.
While the financial markets are unpredictable, the students have learned to stay objective and patient, trusting their research and analysis. “Although we aim to pick holdings with high expected returns, sometimes the market doesn’t reflect the value of those investments as quickly as we’d like,” said Qiu. “It can be frustrating, but it’s an important lesson about discipline and patience in investing.”
Students in the program also gain exposure to industry professionals, including Millsaps alumni who serve as mentors. Local practitioners like Julius Ridgway, partner, regional director and wealth advisor at Waverly Advisors, LLC; provide feedback and insights that bridge the gap between classroom learning and the real-world demands of finance careers.
The impact of managing the Louis Wilson Fund extends well beyond the classroom. Students can list their experience as equity analysts on their resumes, giving them a significant edge in job searches and graduate programs.
They also gain a deeper understanding of financial principles and how to apply them in real-world contexts—skills that pay dividends on the job hunt.
“The fund has been a treasure passed down from previous generations of students and faculty,” said Dr. Qiu. “We are responsible for taking good care of it and ensuring its continued success for future generations.”
At Millsaps, students don’t just learn about finance in theory—they live it and succeed. And that success, much like the Louis Wilson Fund itself, continues to grow year after year.