TSX Group Inc., the operator of Canada’s two national stock exchanges, made a $100,000 donation to UNB’s Forging Our Futures campaign today. The gift will support the University of New Brunswick’s award-winning Centre for Financial Studies, one of the country’s leading programs in post-secondary financial services education.
“The Centre for Financial Studies is a unique program in North America,” said John McLaughlin, UNB president and vice-chancellor. “This gift from TSX Group recognizes UNB’s leading role in financial education. I thank TSX Group for their generosity and salute the centre’s students and faculty for their efforts at making the program the best of its kind anywhere.”
The Centre for Financial Studies, housed within UNB Fredericton’s faculty of business administration, promotes excellence in financial education and addresses the employment needs of the evolving investment industry through the prestigious and award-winning Student Investment Fund (SIF) program. Unique among Canadian universities, the SIF program combines an opportunity for undergraduate and graduate students to invest real money in capital markets while they undertake a study course for the industry standard Chartered Financial Analyst (CFA) Level One exam. The TSX gift will be used to equip the SIF boardroom with sophisticated financial industry software and to continue to develop relevant leading-edge investment education programs.
“As a national institution, TSX Group supports post-secondary institutions right across Canada,” said Richard Nesbitt, CEO of TSX Group. “We look forward to working with the Centre for Financial Studies at the University of New Brunswick as part of our expanding capital markets donations program. We have been impressed with their growing reputation as a highly ranked business school and their innovative Student Investment Fund that prepares students for careers in an expanding financial services industry.”
Since inception of the SIF program in 1998, student fund managers have doubled the initial pension fund assets of $1 million to almost $2 million. The Student Investment Fund program was allocated $1 million of real pension assets by the New Brunswick Investment Management Corporation to invest in capital markets.
Graduates of the prestigious program are well placed in investment firms throughout the world. More than 60 SIF graduates have written the CFA Level One exam, continuing to outperform their peers.
“I am excited about the financial support and this expanding partnership between the Centre for Financial Studies and the TSX Group,” said Glenn Cleland, director of the Centre for Financial Studies. “To be partnered with Canada’s premier stock exchange operator is an affirmation of the centre’s success and its potential.”
TSX Group operates Canada’s two national stock exchanges: the Toronto Stock Exchange, serving the senior equity market; and the TSX Venture Exchange, serving the public venture equity market, as well as Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts. TSX are the initials attached to the core equity operations of TSX Group (www.tsx.com): Toronto Stock Exchange, TSX Venture Exchange, TSX Markets, TSX Datalinx, TSX Technologies. TSX Group is headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.