Background

The Melbourne Centre for Financial Studies is an exciting new initiative involving partnership between public and private sectors, and industry and academe. The Centre was launched with seed funding from the Victorian Government. Members of the consortium are Melbourne, Monash and RMIT Universities, and Finsia. Its mission is to enhance Melbourne 's reputation as an international centre of financial practice, research and education.

The Melbourne Centre will draw on, and supplement, the wealth of institutional, human and knowledge capital which exists in the Melbourne financial community. It will undertake research, consulting and educational activities which create social benefits for the Victorian community as a whole, and will assist participating organizations to improve their performance and standing in both global and national markets.

The importance of the finance sector as the backbone of economic and social development is continually increasing, with the range of activities, risks and opportunities becoming ever broader and more complex. The intersection of academic and practitioner interests and expertise continues to expand, creating significant value-adding opportunities for those communities which can harvest them effectively. The Melbourne Centre is based on a vision that its partnership model will deliver benefits for Melbourne as a whole as well as for participating institutions .

The Melbourne Centre for Financial Studies will achieve its goals in a number of ways. First, it will facilitate linkages between ˇ°town and gownˇ± assisting each to better identify the opportunities for mutually beneficial collaboration. Second, it will identify and undertake both pure and applied finance research of particular interest to the Melbourne financial and business sectors. Third, it will facilitate the transmission of developments in finance knowledge between practitioners and academe. Fourth, through its publications, conferences and workshops, and development of international linkages with key institutions and individuals, it will promote Melbourne as an international centre for finance practice, research and education.

The Melbourne Centre for Financial Studies is housed at level 43, 80 Collins Street , Melbourne, in the heart of the Melbourne CBD.

Funding

The initial funding for the Melbourne Centre took the form of cash and in-kind support from its founding members. A significant initial grant from the Victorian Government was supplemented by funds from the founding University members to provide a base for the establishment of the Centre and its work program. Finsia (formerly AIBF) has provided financial and in-kind support by way of provision of office space and secretarial and administrative support. Further in-kind support from the consortium of founding University members includes access to their extensive research facilities in finance.

The business plan of the Melbourne Centre envisages that ongoing funding will be obtained from a variety of additional sources. These include:

• Contributions from new industry members wishing to support the activities of the Centre
• Funds raised from contract research and consulting
• Funds raised in the form of research grants
• Profits generated from conferences, seminars and training activities