RBC donates $350,000 to UNB Centre for Financial Studies
April, 2005 — The RBC
Foundation donated $350,000 to UNB Fredericton's Centre for
Financial Studies (CFS) to support the award-winning Student
Investment Fund (SIF) program, giving UNB business students
real investment experience in Canada's growing financial services
industry.
"We welcome this partnership with Canada's largest bank,"
said John McLaughlin, president and vice-chancellor. "RBC
knows a good investment when it sees one and this program,
with its unique real world education, is one that will pay
dividends for UNB business students and for Canada's financial
services sector."
Established 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 Faculty of Administration students in the SIF program
have grown pension fund assets from $1 million to approximately
$1.6 million.
The donation will help consolidate the SIF program by adding
new software, expanding existing facilities and supporting
faculty. It will give the Centre a secure base from which
to establish a new Master of Finance program in the next few
years.
"We are proud to play a role in helping the University
of New Brunswick reach its Forging Our Futures campaign
goal," says Wayne Bossert, RBC's Regional President for
the Atlantic Provinces. "Directing our gift to the Centre
for Financial Studies and the Student Investment Fund enables
us to support the future leaders of the financial services
and business sectors, and that's good news for this province,
this region and this country as a whole."
"The Student Investment Fund is a unique program that
is not offered by any other university in Canada," said
Glenn Cleland, CFS Director. "Our students are some of
the best in the world and with this generous donation from
the RBC Foundation we will be able to further secure the program's
international reputation for excellence in investment education."
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