History

The Centre for Financial Studies was inspired by founder, Glenn Cleland who had an academic experience at Texas Christian University (TCU) where he participated in the university's student-managed Educational Investment Fund (EIF).  

Professor Cleland was actively involved in the Educational Investment Fund during the famous October 19, 1987 stock market crash.  Undeterred by this experience, he embarked on a career in investment finance.  Following graduation with a MBA degree, Glenn continued along the educational and career path to becoming a CFA charterholder, a milestone which he attained in 1992.

While teaching an introductory investments course at UNB in the early 1990s, it occurred to Cleland that students would gain much from having a hands-on investment experience similar to that which fostered his investment knowledge during his graduate studies in Texas.  

The New Brunswick Investment Management Corporation was established in 1996.  Cleland, who was an equity portfolio manager in the new entity, saw the opportunity to develop a student-managed fund at the University of New Brunswick in Fredericton.  The President of the newly founded entity presented the idea to the firm's Board of Directors who gave their blessing to developing the program. The then Faculty of Administration enthusiastically embraced the idea.  

In 1998, NBIMC provided the initial $1 million for the students to invest and the Student Investment Fund was born. The program has enjoyed impressive returns and continuous improvements in facilities, software and technology ever since.

In September 2011 UNB's endowment fund allocated an additional $2.5 million for the students to invest under the stewardship of LeeSide Capital Management Inc. making the Student Investment Fund the second largest student managed fund in Canada.

Professor Cleland joined the Faculty of Business Administration in 2002 where he is Founding Director of the Centre for Financial Studies.