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September 2003

Coggin opens State Farm Companies Foundation Center for Financial Research

On hand for the opening of the State Farm Companies Foundation Center for Financial Research in the Coggin College of Business were (from left) Dr. Gary Fane, interim dean, Skitch Holland and Marc Hatcher with State Farm, Dr. Reinhold Lamb, associate professor of Accounting and Finance, and Bill Wilkens, retired State Farm executive.

This semester, Dr. Reinhold Lamb's students have access to some of the most advanced financial research tools available anywhere. The tools allow them to get the same real-time information as financial traders around the world, enhancing the quality of their experience at UNF.

On Aug. 18, the Coggin College of Business dedicated the State Farm Companies Foundation Center for Financial Research. It was made possible by a $100,000 donation from the State Farm Foundation.

The center will be used by students majoring in finance and financial services to manage an actual investment fund. The center provides students with the technological tools to access information, analyze it and store it for future use. It has 10 work stations, access to Bloomberg, a finance library, and three large plasma screens for viewing data and charts and for instructional purposes.

"Opening this center has given our students the tools needed to develop realistic financial-analysis and risk-management skills they will need to be successful in today's business market," said Dr. Gary Fane, interim dean of the Coggin College of Business.

Jim Smith, State Farm senior vice president, said the company was proud to make the financial research center at UNF a reality.

"Our mission is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams," he said. "As part of this commitment, we recognize education is the cornerstone of making these things possible."

The Coggin College of Business, through a previous private gift, established a student-managed investment fund in conjunction with the UNF Foundation. The fund was launched in October. By May, the fund added $35,000 to the initial $500,000, a return of about 7 percent.

Lamb, who led the inaugural class, said access to the resources in the room will enable students to become comfortable with the state of the industry data and research tools, making them more marketable upon graduation.
While the center will be used primarily for finance and financial services majors, faculty also will have access to the room's software so they can research market data.

The State Farm gift is eligible for $83,600 in matching funds through the Florida Facility Enhancement Challenge Grant Program. The additional money boosts the total value of the gift to $183,600.

The State Farm Companies Foundation primarily awards grants that further State Farm's commitment to higher education. State Farm is the nation's largest writer of property-casualty insurance products, serving nearly 67 million policyholders in the United States and Canada and insuring about one in every five insured cars and one in four homes.