Quant specialist Parametric Portfolio Associates LLC launched a new scholarship program that will help to cover tuition and living expenses for four graduate students who want to study quantitative finance.
The Parametric Diversity Fellowship for Quantitative Investment Talent will be awarded to two students each for the University of Washington (Seattle) Computational Finance and Risk Management master's program and the University of Minnesota's (Minneapolis) Minnesota Center for Financial and Actuarial Mathematics program, said a news release from the Seattle-based money manager.
The fellowship has a "particular focus on students with demonstrated financial need who have evidenced a commitment to diversity, equity and inclusion, which may include community service or participation in a related student organization," UW said in an announcement on its website.
Applicants are being sought now by each university for the 2021-2022 academic year.
"Parametric strives to attract, develop and retain individuals with diverse backgrounds and perspectives," said Thomas Lee, CIO, equities and derivatives at Parametric, in an email. "We seek to be a leader in driving and supporting a diverse culture. The Parametric fellowship programs at the University of Washington and the University of Minnesota are part of that overall effort. Specifically, the fellowships create a talented, diverse candidate pool for quantitative investment positions. This effort benefits not only Parametric but the industry as a whole."
Parametric managed $355.4 billion as of Dec. 31.