AIP was founded under the auspices of Professor John Howat in 2001. Professor Howat was an estimable figure at UW-Whitewater whose 36-year tenure helped launch many successful investment careers.
He first conceived the idea of a student-managed investment fund (SMIF) at the university. The program was funded by an initial donation of $25,000 by Strong Capital Management in 2001. Additional contributions brought the total assets under management to $50,000. Assets remained at that level during Professor Howat’s directorship of the program from 2001-2012. During that time, the program operated on a pay-as-you-go basis, using profits to fund scholarships and operations.
Dr. Howat retired in 2012 and was succeeded by Scott Opsal as Director of the Applied Investment Program in 2013. That year marked the transition of AIP to a practitioner-centered model. Mr. Opsal, an accomplished investment professional, immediately brought a practitioner’s perspective to the program. He also led a drive to secure additional capital commitments from the university’s endowment. In 2014, the UW-Whitewater Foundation allocated $250,000 from the endowment to the student-managed fund. This marked an inflection point in the history of AIP, and the professionalism of the program took a major step forward. Mr. Opsal returned to investment practice in 2016, leaving total assets under management in UW-Whitewater’s student-managed investment fund at $450,000.
R.J. New took over as the Director of AIP at the start of the 2016-2017 academic year. Mr. New is a graduate of the Applied Security Analysis Program at the University of Wisconsin (one of the earliest, largest, and most successful SMIFs in the country) and worked in both equity sell-side and buy-side roles before joining academia. Through continuous efforts in fundraising, total assets under management for the program are at approximately $800,000 today.
