New Wharton Center and Prize
Bruce Jacobs G’79 Gr’86 and Kenneth Levy WG’76 G’82 have made a $12 million gift to establish a center focusing on quantitative financial research at Wharton, and to endow a biennial prize for work in the same field.
“We believe that establishing a research center and a prize for innovation will foster the advancement of quantitative financial research and practice,” said Jacobs, a co-founder of Jacobs Levy Equity Management. “Given recent market volatility and economic uncertainty we think the timing of this gift could not be more critical as investors are seeking new solutions to meet their growing funding gaps.”
The Jacobs Levy Equity Management Center for Quantitative Financial Research will fund PhD dissertation fellowships and support faculty research. Every second year, at its annual conference, it will also recognize one or more researchers who have published innovative peer-reviewed journal articles with a cash award of $80,000.
“Bruce and I both emerged from Wharton’s doctoral program into an investment world that had little patience for academic notions such as the efficient market and random walk hypotheses,” said Levy. “We created Jacobs Levy Equity Management to apply the academic ideas and tools we had learned at Wharton, expand upon them, and put our proprietary research into practice in the real-world pursuit of value-added investing for clients. Our firm’s success is a testament to the usefulness of quantitative financial research.”
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Last modified 10/28/11