The New Brunswick Investment Management Corporation (NBIMC) has made a financial contribution of $140,000, over the next four years, to the University of New Brunswick’s Centre for Financial Studies. This continues NBIMC’s nearly 10-year partnership with UNB Fredericton’s award winning Student Investment Fund (SIF), a student managed fund and flagship program of the faculty of business administration.
“As a founding partner of the centre’s Student Investment Fund in 1998, NBIMC has been the principal beneficiary of investment professionals developed through the program,” said John A. Sinclair, president and chief executive officer of the provincial crown corporation. “The centre also plays a key role in helping us fulfill our mandate of promoting the development of the financial services industry and capital markets in New Brunswick.”
NBIMC supplied the initial $1 million for students in the program to invest with appropriate oversight. The students, under the guidance and supervision of professors in the faculty of business administration, have grown the initial investment to approximately $2.2 million. NBIMC will also continue to provide investment capital and its related oversight, as well as the ongoing support of their team of investment professionals.
Mr. Sinclair made the announcement at the centre’s annual recruitment and investment education forum, futures Atlantic Symposium, which took place Sept. 13 and 14 at UNB Fredericton. futures Atlantic hosted finance and investment students from universities throughout Atlantic Canada and investment industry thought leaders who presented at the event. Financial professionals from the region also attended the professional development component of the symposium.
Glenn Cleland, director of the Centre for Financial Studies and professor in the faculty of business administration at UNBF, is excited about the continuation of a partnership that spans nearly 10 years and is vital to the ongoing sustainability of the Student Investment Fund program and the centre.
Of the graduates of the SIF program, Prof. Cleland estimates that a dozen or so have been recruited by NBIMC. Students in the program also benefit from NBIMC’s access to industry professionals from major financial centres, some of whom have made presentations to the SIF students. The students’ exposure to seasoned industry practitioners adds value to their theoretical learning experience.
Prof. Cleland says that the announcement has the potential to expand the partnership to a new level.
“The futures Atlantic Symposium is the centre’s most energetic venture to date,” he said. “But, in my world, there’s no time to stand still.”
To learn more about the symposium, visit www.futuresatlantic.com
NBIMC has assets under management of over $8.7 billion as of March 2007. The crown corporation was formed in 1996 to operate at arms’ length from government to manage the pension assets of over 45,000 plan members including teachers, judges and public servants.
For more information, contact Mr. Sinclair at (506) 444-5800 or Prof. Cleland at (506) 458-7510.
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