About Us

Nyenrodiaanse Handelsvereniging De Zilveren Rijder (DZR, in short) is a private student-managed investment fund that was founded in 1996 by two Nyenrodians (students at Nyenrode Business University) with the aim to increase theirs and their peers’ knowledge of the financial markets and investing in general. Throughout the years, twenty-five boards have governed the fund while increasing its value and attracting an increasing number of shareholders. Currently, the XXVI Board is managing a total worth of €200,000 AUM and coordinating with 800+ shareholders, making it the largest student-managed investment fund in the Netherlands and one of the largest student-managed funds in Europe.

De Zilveren Rijder is a private investment fund; only students and/or alumni of Nyenrode Business University have the exclusivity to manage and acquire shares of the fund (entitled, “Rijders”).

The People

The Board

The Board of De Zilveren Rijder is constituted of seven members who strive to create value for the fund and its shareholders. The XXVIIe Board of De Zilveren Rijder is currently active. All members have different functions and coordinate their work to achieve an optimal level of productivity, the functions are presented in the following:

Chief Executive Officer (current: Maurice Dunning): In charge of external communications with investors and chairing the board meetings. The CEO is ultimately responsible that work gets delivered by the other board members.

Chief Investment Officer (current: Giuliano Martin): In charge of designing and maintaining the investment strategy of the fund, and marketing of the foundation. In addition to that, being an all-rounder, available where help is needed.

Secretary (current: Lucas Sanders): In charge of maintaining internal operations and files in order. Making sure that in every meeting, all important matters are discussed and everyone is heard.

Chief Financial Officer (current: Aubid Sarwar): In charge of monitoring of the portfolio and fund bookkeeping. The treasurer makes sure all transactions in the fund are executed properly and provides the shareholders with accurate prices of their shares.

Chief Events Officer (current: Raphael de Boer): In charge of organising educational and career events such as company visits, speakers and in-house events.

Chief Fiduciary Officer (current: Jacob Hartog): In charge of communication to external parties through the quarterly magazine Den Silvervloot.

Chief Equity Analyst (current: Loek Zonneveld): In charge of leading the team of analysts. Personally responsible that work from the analysts gets delivered.

Equity Analysts

The Equity Analysts of De Zilveren Rijder represent the team responsible for making financial analyses and provide investment recommendations to the board. With their suggestions, the board decides to invest in a given financial instrument. The current Equity Analysts team consists of seventeen members; each member brings a unique expertise and quality to the team, making them together a great facet to the entire fund. Their support in the investment decisions will ultimately result in more value for the shareholder. Throughout a given year, the Equity Analysts team conduct research investigating different industries and trends around the globe to provide a wide-range of investment recommendations.

The current Equity Analyst team is constituted of the following members:

  • Niklas Loycke
  • Pepijn Slob
  • Roy de Oude
  • Lohit Appaji
  • Jasper Kooge
  • Stijn Beek
  • Thomas Poppel
  • Wout Knipscheer
  • Tom Schoffelen
  • Sem van Egmond
  • Lucas Koolhaas
  • Annabel Brink
  • Joppe Kroon
  • Alexander Damen
  • Laura Geertman
  • Jente van den Bos
  • Brian Snel
  • Bart Haasen
  • Kasper van Leeuwen
  • Marnix Heiligers
  • Dirk Schröder
  • Jacques Ligtvoet
  • Maxim Struik
  • Koen Schoemaker

Our Culture

We, as the XXVIIe Board of De Zilveren Rijder, believe that the organisation’s culture drives engagement, engagement drives performance, and performance drives an increasing shareholders wealth. In the core of our culture we hold on to the three founding values of De Zilveren Rijder that are put in place since 1996.


Within De Zilveren Rijder, Friendship can be subdivided into four different levels. First, friendship starts as a new acquaintance and the highest attainable level is intimate friendship. The latter level of friendship is desirable since it results in our people able to unleash their true potential. At this level there is enough trust to correct one another and point out each other’s flaws. To get to this level we adhere to the following rules that we consider vital for establishing intimate friendships: 

  1. Speak the Radical Truth;
  2. Be Radical Transparent;
  3. Embrace Empathic Listening.


At De Zilveren Rijder, we are eager to realize the highest amount of Wealth possible. Critical mindset and problem solving are rewarded at De Zilveren Rijder, we encourage members to think critically of our processes and investments. 

In order to reflect this value in our operations, we adhere to the three main rules that we believe would increase our financial and mindset wealth: 

  1. Reward ideas that challenge the status quo; 
  2. More brainstorming sessions; The more interaction our members have with each other results in more opportunities to practice their soft skills.
  3. Meritocracy; is a practice where the best ideas win. In a meritocracy, everyone has the right to express their opinions and are encouraged to share them.


At De Zilveren Rijder we embrace complete Integrity, which, in our definition, is the quality of being honest and having strong moral principles. In addition, we build and earn Trust. We believe that trust is the key to a successful feedback exchange; therefore, creating trust is vital for everyone’s personal and professional progress.