Fund furthers financial acumen
Alumni donations allow Memorial University students to invest real money in capital markets
Memorial University students can now use real money to gain investment experience in financial markets due to $150,000 cash donated by alumni.
Brad White, a 1991 bachelor of commerce graduate and cofounder, partner and chairman of Edgehill Partners in Toronto, has donated $100,000 to the faculty of business administration to create a student-managed investment fund that will be known as The Fund.
Luke O’brien, a 1997 commerce graduate and vice-president, portfolio manager and wealth adviser at RBC Dominion Securities Inc. in St. John’s, has donated $50,000 to the faculty.
“To me this is another very necessary leg of the stool for securities analysis and asset management at Memorial’s business faculty,” White stated in a Memorial University news release. “We have the body of talent, both student and faculty. We have the trading lab. And The Fund is a necessity to stay ahead in this competitive field, providing students with real experience and practical skills.”
White previously made a major donation that created the White Trading Lab, a facility that features Bloomberg terminals and technology and enables users to interact with the global financial community in real time.
O’brien said his donation is a way of giving back to and investing in Memorial students.
“I gained knowledge from a stock market simulation exercise that I completed as part of an investments course at Memorial that I still benefit from today,” O’brien said. “By managing an actual portfolio, a select number of current students will be able to take that experience to a higher level, and hopefully generate a positive return on the fund that will benefit future students.”
The Fund will allow students to invest real money in equity and bond markets using the Bloomberg technologies available in the White Trading Lab.
Faculty advisers and a team of industry professionals will guide students in their investment activities.
The Fund is now recruiting its first cohort of students from all faculties and schools at Memorial.
Isabelle Dostaler, dean of Memorial’s business faculty, says The Fund will help Memorial students become marketable job candidates and build careers in the finance industry.
“It’s our hope these initial donations will attract other donors, which will provide our students with further opportunities to develop their investment skills. Together, we can support the next generation of financial leaders,” Dostaler said.