Parametric Creates Diversity Quantitative Finance Fellowships at University of Washington and University of Minnesota
SEATTLE, February 4, 2021 – Parametric Portfolio Associates LLC (Parametric), a subsidiary of Eaton Vance Corp. (NYSE: EV) and the leading SMA manager1 , today announced the launch of the Parametric Diversity Fellowship for Quantitative Investment Talent at the University of Washington (UW) and University of Minnesota (UMN). The fellowships demonstrate Parametric’s deep commitment to diversity, equity and inclusion in the finance profession by supporting and advancing future industry leaders. Applicants are currently being sought for the 2021-22 academic year.
“We recognize that successfully serving our clients and providing the caliber of investment insights they have come to expect from us requires teamwork of professionals who represent diverse perspectives, backgrounds and experiences,” said Thomas Lee, CFA, Chief Investment Officer, Equities and Derivatives. “The new fellowship program deepens our already strong relationships with the University of Washington and University of Minnesota, and expands our efforts to elevate diversity and equity in the quantitative finance profession.
The Parametric Diversity Fellowship for Quantitative Investment Talent has a particular focus on students with demonstrated financial need who have evidenced a commitment to diversity, equity and inclusion. The primary components are outlined below.
Fellowship at UW Computational Finance and Risk Management (CFRM) Master program
- Annual tuition assistance for two graduate students during the two-year master program, with a matching tuition waiver from UW for the other half of tuition, as well as a waiver to apply for in-state tuition to out-of-state students.
- Annual living expense stipends for two graduate students.
- Detailed information is available on University of Washington’s Computational Finance & Risk Management's website.
Fellowship at UMN Mathematical Finance Master (MFM) program
- Annual tuition assistance to cover tuition for two graduate students, with a waiver to apply in-state tuition to out-of-state students. The amount will vary depending on the availability of privately-funded fellowships.
- Annual living expense stipend for two graduate students. This amount will vary depending on the availability of other fellowships to support tuition.
- Detailed information is available on University of Minnesota’s Minnesota Center for Financial and Actuarial Mathematics website.
“We are committed to cultivating a diverse workplace that continually promotes opportunities for all. By partnering with academic institutions, Parametric can extend its reach in diverse candidates,” said Paul Bouchey, Global Head of Research at Parametric. “With COVID-19, the resulting economic crisis and systemic racism disproportionally affecting students from underrepresented populations, fellowships supporting students with changing and varied needs are as important as ever.”
Both programs are involved with the Math Alliance, an organization that is focused on making sure that every underrepresented or underserved American student with the talent and the ambition has the opportunity to earn a graduate degree in a mathematical science. Through the Math Alliance and other conferences, the programs are able to recruit African American, Latino, and Native American students with interest in the STEM fields. By having corporate partners, the programs can demonstrate the value of a graduate degree and provide a path to success for these students.
About Parametric: Parametric uses investment science to build and manage systematic investment strategies and to implement custom portfolio solutions providing clients with targeted investment exposures with control of costs and taxes. Based on principles of intellectual rigor, ingenuity and transparency, Parametric seeks to deliver repeatable client outcomes with consistently high levels of service and maximum efficiency. As of December 31, 2020, Parametric managed $355.4 billion in assets on behalf of institutions, high-net-worth individuals and fund investors. Headquartered in Seattle, Parametric also has offices in Minneapolis, New York, Boston and Westport, Connecticut.
About Eaton Vance: Eaton Vance Corp. provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Calvert and Hexavest, the company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. As of December 31, 2020, Eaton Vance had consolidated assets under management of $583.1 billion. Exemplary service, timely innovation and attractive returns across market cycles have been hallmarks of Eaton Vance since 1924. For more information, visit eatonvance.com.
1 Source: Cerulli Associates and Money Management Institute’s Advisory Solutions Quarterly, December 2020. Page 10.