Aberdeen champions simplicity, transparency and greater understanding in asset management and sees education as an important part of its positioning. On a global scale we have been supporting various initiatives through providing grants, volunteers and thought leadership materials with the aim to raise awareness of the importance of financial literacy to our various stakeholders and audiences and in doing so increase financial education.
In the UK:
Since 2013, we have supported RedStart, an initiative run by Redington (an independent investment consultancy). They source schools, organise the presentations and ‘run’ the day whilst Aberdeen hosts the events and provides speakers to run the individual sessions.
The Stewart Ivory Financial Education Trust
Over a year three period (2014 – 2016) Aberdeen will provide funding to prepare school leavers for taking control of their own finances, not only while they are in higher education (university and college) or starting work, but to encourage them to think about financial issues for the longer term, including savings, mortgages and pensions. This programme works with 15,000 senior students annually in 200 schools across Scotland.
MyBnk is an award winning education charity working with young people aged 11-25 to build their knowledge, skills and confidence to manage their money effectively and make enterprising choices throughout their lives. Their work addresses the root causes of economic disadvantage by empowering young people to effectively manage their finances and develop their employability skills. Aberdeen’s involvement began in 2014 by providing two grants to support their award winning programme Money Twist.
Making Maths Count
Sean Phayre, Global Head of Quantitative Investments and a member of Aberdeen’s Group Management Board is participating in the Making Maths Count initiative which is designed to improve maths and numeracy attainment across primary and secondary schools in Scotland. The National Profile Raising Group brings together a membership with a wealth of expertise, including industry, academia and science.
In the USA:
Multi Media Content
Through the creation of our financial literacy microsite, we are taking steps to highlight the importance of financial literacy within our local, national and international communities in fun and engaging ways. This can be demonstrated by our quirky video series ‘What is Money?’ and ‘What is a Bank? which communicate the importance of sound financial knowledge and habits.
Knowledge@Wharton High School Investment Challenge
Aberdeen has partnered with Knowledge@Wharton High School (KWHS), a Wharton School initiative that promotes financial literacy, entrepreneurship and leadership among high school students and teachers through innovative content and competitions like the Investment Challenge. Now in its 4th year, the competition has expanded past its initial Philadelphia focus to include schools from across the U.S, Canada and India. Over the past seven months, students at participating high schools have managed virtual portfolios of stocks using a Wharton trading platform known as OTIS. Students and teachers are able to use the platform, along with KWHS articles and lesson plans, as resources to learn basic tenants of investing and create well-thought-out, logical investment strategies.
Aberdeen has provided thought leadership materials, webcasts and consultation to participating teams as well as act as judged for final investment presentations. We hope the competition will not only enhance participating students’ financial literacy, but also raise awareness on the types of careers that are available to them. For more information click here.
Junior Achievement’s core purpose is to inspire and prepare young people to succeed in a global economy. Since 2008, their programmes in Singapore have supported over 50,000 school children. In 2016, Aberdeen partnered with Junior Achievement by providing Aberdeen volunteers to deliver their Economics for Success programme to disadvantaged school children aged 14 – 16. The programme provides practical information about personal finance and the importance of identifying education and career goals based on a student’s skills, interests, and values. It also demonstrates the economic benefits of staying in school.