September 23, 2005 Source: university of new Brunswick - saint John:
http://www.unb.ca/news/view.cgi?id=840 UNBF CENTRE FOR FINANCIAL STUDIES RECEIVES $100,000 September 23, 2005 UNB News Release: D362 Sandra Howland, Public Relations Officer, (506) 458-7968 Phillips, Hager & North Investment Management Ltd., one Canada’s most respected investment firms, is making a contribution of $100,000 to the University of New Brunswick as part of UNB’s Forging Our Futures campaign. The contribution will support the Centre for Financial Studies at UNB Fredericton and will directly benefit the university’s award-winning Student Investment Fund (SIF). The fund provides business students with real investment experience in Canada’s growing financial services industry. “The Student Investment Fund is a one-of-a-kind program in North America,” said John McLaughlin, UNB president and vice-chancellor. “This gift from Phillips, Hager & North, one of Canada’s top investment firms, is recognition that UNB is truly a leader in financial education.” Two-thirds of the Phillips, Hager & North donation will support the development of the Centre for Financial Studies through the purchase of new software, an expansion of existing facilities and support for faculty. The investment will help position the centre as it looks to establish a new master of finance program in the next few years. The remaining one-third will be invested in a Phillips, Hager & North Investment Management Scholarship, which will award two $2,500 scholarships annually to undergraduate students in the faculty of business administration. “We are very pleased to be partnering with the University of New Brunswick,” said A. Mark DeCelles, vice-president of Phillips, Hager & North. “High-quality education of tomorrow's investment professionals serves to strengthen the industry, and will ultimately benefit Canadian investors.” Begun in September 1998, the SIF combines a student-managed investment program with a study course for the industry standard Chartered Financial Analyst Level One examination. With seed money from the New Brunswick Investment Management Corporation, the business students in the SIF program have grown pension fund assets from $1 million to approximately $1.8 million. “I am excited about the commitment from Phillips, Hager & North to the Centre for Financial Studies,” said Glenn Cleland, director of the centre. “This highlights the kind of business-academic partnerships we need to propel the financial programming and research in the faculty of business administration at UNB to a higher level. PH&N are no strangers to our program, having made presentations to the Student Investment Fund students and having provided insights on current issues that are usually restricted to PH&N clients.” In fact, the students in the SIF program picked PH&N for the Canadian Money Manager Award in 2003-2004 as the firm they would hire to manage their money. In 2003 and 2004, SIF students placed first in their category at the annual Redefining Investment Strategy Education Symposium and Competition in Dayton, Ohio. Over 100 schools from four countries participated in the prestigious competition, which is sponsored by the New York Stock Exchange and the Wall Street Journal. More than 60 SIF graduates have written the CFA Level One exam. Their 54 per cent pass rate is well above the average industry success rate of 46 per cent over the 1999-2005 period. Established in 1964, Phillips, Hager & North Investment Management Ltd. is one of Canada's largest independent investment managers. The firm manages over $55 billion in assets on behalf of corporate and multi-employer pension plans, non-profit organizations and individuals across Canada. Forging Our Futures is the most important development campaign in UNB’s more-than-200-year history. It will make strategic investments in students, faculty, facilities and programs. The campaign will strengthen UNB’s position as a national university that is fundamentally important to the economic, social and cultural well-being of the province, the region and the country. Forging Our Futures was launched in June 2005. More information on the campaign can be found online at www.unbfutures.ca. Contact: John Suart Communications Manager Development and Donor Relations Direct: 506-458-7548 Mobile: 506-461-9944 E-mail: jsuart@unb.ca - 30 -
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