The PMF is a charitable entity formally distinct from the Sauder School of Business and UBC. The PMF’s primary purpose is to accumulate capital to be used to support teaching and research activities in the Sauder School of Business. It is regulated by the British Columbia Provincial Government and the Canada Revenue Agency to insure that this objective is attained. To achieve this objective, the PMF has accumulated an endowment (currently $9 million) whose earnings are used to support teaching and research in the Sauder School of Business.
The secondary objective of the PMF is the education of the involved students to effectively manage the PMF endowment and train them for capital markets careers; this objective involves the curriculum and faculty of the BCOM program in the Sauder School. So, the Dean of the Sauder School of Business is the PMF President and he is supported by a PMF Board of Directors that is comprised of three Sauder faculty and three senior Vancouver business executives (usually PMF alumni).
About the fund
The $9 million endowment has resulted from donations of about $4.5 million to the endowment, by firms and individuals, and about $4.5 million of retained earnings. Part of total earnings are used to pay PMF program expenses and to support teaching and research activities in the Sauder School of Business, and the remainder of earnings are retained.
Typically, the endowment is invested:
30% in fixed income investments (Canadian and US government and corporate bonds)
35% in Canadian equities
35% invested in US equities
Specific derivative investments are allowed on a restricted risk exposure basis