Maine Business School’s Student Portfolio Investment Fund surpasses $5 million 

An investment fund managed entirely by students in the Maine Business School achieved a historical high in assets this fall. The Student Portfolio Investment Fund (SPIFFY) surpassed $5 million in assets under management. Students use these funds to gain pre-professional fiduciary experience by researching and investing in stocks, bonds or other financial assets. 

“SPIFFY has experienced tremendous growth in recent years, becoming a standout example of student-led financial management,” said Sebastian Lobe, University Foundation Professor of Investment Education and faculty advisor for SPIFFY. 

What began in 1993 as an initial $200,000 investment from the Foundation through a request from Bob Strong,University Foundation Professor Emeritus of Investment Education and professor emeritus of finance, has evolved into a robust organization with 80 active members and countless opportunities for leadership and professional development.

Lobe estimates that approximately 3,000 University of Maine students have participated in SPIFFY since its inception. John Gray, the group’s current director of operations is a senior from Cape Elizabeth majoring in finance and management.  Students use this pool of funds as they research and invest in stocks, bonds or other financial assets.

“This milestone reflects the unwavering commitment and effort of both current and past members and underscores our community’s dedication to financial education,” Gray said.

SPIFFY provides a unique learning environment open to all UMaine students, regardless of major, offering practical financial literacy and real-world investment experience. Gray joined SPIFFY as a first-year student and progressed through roles as a market analyst and sector head before taking on leadership positions. 

In 2018 and 2024, SPIFFY earned first place in the Value Portfolio category at the Quinnipiac GAME  Forum XIII, reinforcing its status as one of the leading student-managed investment funds in the U.S. More than 1,500 attendees representing 130 universities and colleges participate in the GAME Forum annually in New York City, immersing themselves in educational and networking opportunities. 

“In my role as director, I’ve connected with leaders of student investment funds across North America,” Gray said. “What sets SPIFFY apart is our size, our voluntary member base, and the passion our students bring. Participation isn’t required for any course — it’s driven purely by interest and commitment, and that dedication is evident in our achievements.”

Contact: Melanie Brooks, 207-581-1926; melanie.brooks@maine.edu