This five-year funding extension underscores Man's commitment to building a world-leading quantitative investment business following the recent combination of AHL, Man’s world-leading quantitative investment manager, and Man Systematic Strategies, its specialised innovative, quantitative division.
For the OMI, the extended collaboration provides certainty to help achieve their aim to be the world’s foremost centre for quantitative finance research, gathering the best in academia and industry to solve problems that have a real impact on the sector and society.
Founded in 2007 with funding from Man, the OMI is the home of interdisciplinary research in quantitative aspects of finance at the University of Oxford. The collaboration, which involves the co-location of the Man Research Laboratory (MRL) housing AHL researchers alongside the Institute, remains the first and only co-location of its kind between the University and an alternative asset management firm. The extension of the funding secures Man’s continued physical presence at the OMI and the associated benefits of this collaboration.
Tim Wong, Executive Chairman of AHL said: 'Man's longstanding physical presence within Oxford University’s unique academic space devoted to developing world-leading quantitative research has provided a huge boost for both recruitment and the exchange of ideas and intellectual capital over the past six years. Though we do not seek to influence the OMI’s research in any way, we benefit hugely from the relationship and the exposure it gives us to early stage academic work and models in our field.
'The extension of funding to 2018 underscores both Man’s objective of developing Europe's most successful quantitative-based business and provides support for the OMI’s vision for its development over the next five years'.
Professor Terry Lyons, Director, OMI stated: 'I am excited by the decision of Man to continue their engagement with OMI and to extend their funding until at least 2018. This commitment underpins the OMI vision: to provide a unique opportunity for academic and commercial researchers to work alongside each other on a daily basis in a vibrant purpose designed environment. The association with Man has identified new priorities and stimulated exciting and fundamentally new research directions.
'Quantitative skills are critical and frequently underutilised components in the toolbox of individuals shaping today and the future of the financial services industry and of the whole financial economy. Our ambition is therefore to build an outstanding interdisciplinary centre for quantitative finance. Our experience tells us that critical to this vision is a model that has engagement with both academic and industry partners at its core'.
About the Oxford-Man Institute
In June 2007 Man, with the University of Oxford, founded the Oxford-Man Institute of Quantitative Finance. The initial financial commitment, at £13.75 million, was one of the largest single donations to a British higher education institution in recent years. It was notable because it brought together Man and researchers from across the University of Oxford, creating in Man’s words, a revolution in collaboration between the academic community and the alternative asset management industry.