Couple donates $750,000 for USC's Global Equity Fund

LOS ANGELES - USC Marshall MBA alumnus David Iben and his wife donated $750,000 in initial funding for a graduate student-managed Global Equity Fund that launched today, the university's business school announced.

"This is obviously a very significant and transformative gift and allows our Student Investment Funds program to be very relevant in the international aspirations of USC and the Marshall School," said finance professor Randolph Westerfield, interim director for the Center for Investment Studies.

The CIS, which originated in 2001 with a gift from Larry and Karen Tashjian, is a forum "for students to acquire experiential learning, faculty to conduct research and industry practitioners to share valuable insights," according to the university.

The Student Investment Funds are administered entirely by student managers within a year-long seminar on applied portfolio management. The funds are a part of USC's endowment and the investment gains are used to support the SIF.

The original SIF was established in 1986 when Provident Investment Counsel provided initial funding for the Trojan Equity Fund for MBA students. Since then, the Provident Growth Fund, California Small Cap Fund and Marshall Fixed Income Fund have been added.

USC Marshall also has an Undergraduate Student Investment Fund.

"USC Marshall is committed to exposing students to an array of enduring global experiences. Thanks to the generosity and support of David and Nancy Iben, the Global Equity

Fund will provide the perfect complement to existing funds by affording students a strong understanding of global investing," said USC Marshall Dean James G. Ellis.

David Iben, an investor in the global capital market, is currently co- president of Tradewinds Global Investors, which manages more than $35 billion for a diverse set of clients.

"Global markets continue to evolve and require in-depth research to find investment opportunities," he said. "We utilize global sector research, independent thought and valuation expertise to invest in what we believe are high-quality and undervalued companies for our clients'portfolios."

Iben received his bachelor's degree in economics from the UC Davis and his MBA from USC's Marshall School of Business at USC.

Xenia Seeberg Melissa Howard Alicia Keys Janet Jackson Elena Lyons