Newsroom
News at the University of New Brunswick

UNB finance students help invest university money

Author: Communications

Posted on Aug 31, 2011

Category: myUNB , UNB Fredericton

Through Halifax-based LeeSide Capital Management Inc., the University of New Brunswick has partnered with its Faculty of Business Administration Student Investment Fund (SIF) Program to give student finance experts a chance to invest real university money. In September, LeeSide will manage $2.5 million of UNB’s endowment funds and it will engage SIF students in the investment process.  The partnership benefits the firm, the students, and given the SIF program’s record to date, benefits are expected for UNB as well. The SIF program began in 1998 with students investing $1 million of real money from the New Brunswick Investment Management Corporation.   As of this past year, the students had grown the fund to $2.7 million through successful investing. “While LeeSide is doing the investing of the endowment monies, SIF students will have an expanded investable universe to include international opportunities as they present investment prospects to the asset management firm,” said Glenn Cleland, founding director of UNB’s Centre for Financial Studies.  “In this capacity, LeeSide partners—who represent a combined 75 years of investment experience—will serve as mentors to the students.” With this new exposure, the students will directly and indirectly have over $5 million to invest in the capital markets, making it the second largest student-managed fund in Canada. Cleland says he’s excited about the opportunity to partner with LeeSide Capital.  “I have known the principals for years. I respect their capital market acumen given their proven track record and admire their overall professionalism.  I truly believe, that with their guidance, we can take the centre to another level.” With a risk-averse approach to investment and a philosophy that patience and continuous research are fundamental steps to success, LeeSide is an investment management boutique that offers unique service to institutional and private investors. Robert McKim, LeeSide Principal, says he and his colleagues, who are all from New Brunswick, look forward to a close collaboration with the UNB Centre for Financial Studies. “Having had successful careers in the past, this partnership is an important way for us to give back by way of sharing our expertise with the next generation of investment professionals,” said McKim. UNB’s Centre for Financial Studies is located in the Faculty of Business Administration at UNB.  The mission of the centre is to create investment expertise in the Atlantic region through business and academic partnerships.  One of UNB’s goals, as outlined in UNB’s strategic plan, is to become more financially resilient and responsible. Working with LeeSide and student investment experts on campus will help the university take another step in the right direction to achieving its financial goals. For further information, please contact Glenn Cleland at (506) 458-7510 or Cleland@unb.ca

-30-