February 5, 2001
Susan Beasy Latto, Director of Public Relations 218 726-8830
Kjell Knudsen, Dean School of Business & Economics 218 726-7281
UMD Creates New Program For Study of Financial Markets, Investment Analysis, and Portfolio Management
Wells Fargo Bank Minnesota Donates Computer Equipment for New Program
With the help of Wells Fargo Bank Minnesota, the University of Minnesota Duluth (UMD) School of Business and Economics has created a new, year-long program dedicated to the study of financial markets, investment analysis, and management of an actual stock portfolio.
Titled The Financial Markets Program, the curriculum is designed for qualified students in their senior year of study in the UMD School of Business and Economics. The Program is set to open September 2001, and includes courses covering financial markets, investment fundamentals, security analysis, and portfolio theory & analysis. It also includes a practicum with a financial institution during the Winter Semester break. Participating UMD students will have the opportunity to analyze the financial condition of businesses, evaluate the opportunity to invest in publicly traded stocks, make presentations to an advisory board of industry professionals, and actually invest in and manage an investment fund.
Wells Fargo Bank Minnesota has donated 20 new desktop computers and monitors along with a network server and four printers to launch the new program.
"We thought that we should give our business and economics students the opportunity to apply classroom theory to a real world situation," said Kjell Knudsen, Dean of the UMD School of Business and Economics. "The Wells Fargo computer contribution gives us the resources we need to start our program and will allow our students to research, evaluate and track their stock choices. Best of all, this computer equipment is dedicated solely to this program and will be housed in the new Wells Fargo Financial Markets Lab."
"We've been a long-time supporter of UMD and, on behalf of our 200-plus team members in Duluth, it's our privilege to extend our support to such an innovative program," said Steve Bianchi, president of Wells Fargo Bank in Duluth. "Phil Rolle, my predecessor, a UMD School of Business and Economics alum, and a member of the School's Board of Advisors, remains a strong supporter of UMD as well and helped secure the computer equipment for this program."
The Financial Markets Program at UMD is modeled after the University of Minnesota's Golden Gopher Growth Fund. The Carlson School of Management Fund is managed by graduate students, and is one of the five-largest student-run funds in the country with more than $5 million in assets.