Canadian University and Community College Directory
HomeUniversitiesCollegesPrograms
Student InfoGraduationEmploymentNews
Google
 
Web www.canadian-universities.net

Canadian University Press Releases/Newswire

Canadian Campus Newswire

UNBF'S STUDENT INVESTMENT FUND TOPS $2 MILLION

November 16, 2006

Source: University of New Brunswick - Saint John
http://www.unb.ca/news/view.cgi?id=1158

November 16, 2006UNB Fredericton News Release: D894Natalie Montgomery, Public Relations Officer (506) 451-6842

The University of New Brunswick’s Student Investment Fund (SIF) is continuing to set records. On Oct. 25, the fund topped $2 million, doubling what it started with eight years ago.

The SIF program was launched in 1998 with a $1-million contribution from the New Brunswick Investment Management Corp. This money allows students in the program to experience real investing, in real-time, in the capital markets.

The fund’s growth is due exclusively to investment performance. No new funding has been acquired.

"The student investment success showcases the high-quality students who are accepted into this rigorous experiential learning program," said Glenn Cleland, program founder and director of UNBF’s Centre for Financial Studies. "The students are responsible for adding value to the portfolio."

This financial milestone is the most recent in a series of successes the prestigious program has achieved. In 2003, UNB became the first Canadian university to win an investment category and placed second overall in the Redefining Investment Strategy Education (RISE) symposium, a global competition for student-managed funds. The following year, UNBF, with a new cohort of SIF students, continued to outperform much larger schools with another first-place ranking in the hybrid investment category at RISE.

Prof. Cleland says that another performance measure of the program’s achievements is the pass rate on the industry standard Chartered Financial Analyst Level One exam.

"The SIF program separates itself from most other North American student-managed funds in that it has an embedded study program for the CFA exam," he added.

SIF students have consistently outperformed global average pass rates on the uniform exam. They excelled at the June 2006 Level One exam recording a 78 per cent pass rate compared to a global success rate of 40 per cent.

Feiber Omana, a 2006 graduate of the business administration program, is the first SIF student and faculty of business administration alumnus to be accepted into Harvard Business School. His deferred admission to Harvard until 2008 will allow him to gain meaningful business experience as an analyst with the investment firm Peters & Co. Ltd. in Calgary, Alta.

He credits the SIF program with getting him started.

"Through my participation in the SIF, I was able to gain valuable skills, knowledge and experience that are the building blocks for a successful career in finance," said Mr. Omana.

The SIF program’s financial learning lab, the TSX Group boardroom, is set up to replicate a small investment firm. Sophisticated, leading-edge, industry-standard equipment, such as the Bloomberg professional dual monitor terminal, allow students access to current information to make informed investment decisions. Students work individually and in groups, learning group dynamics and collaborative team-building.

For more information on the SIF program, contact Glenn Cleland at 506-458-7510 or Susan Boyce at 506-453-4895.

- 30 -


TOP


CATEGORIES

Arts, Humanities and Social Science

Business and Law

Campus Activities

Canadian Cities

Canadian Provinces

Education and Teaching

Fine Arts and Design

Health and Medicine

Language and Culture

Science and Technology

US States

World Countries

World Cities



HomeUniversitiesCollegesPrograms
Student InfoGraduationEmploymentNews
Google
 
Web www.canadian-universities.net

Copyright 2003-2008 - canadian-universities.net