Financial Management Association Honors Two AIMRMembers With Fellows Award; Frank K. Reilly, CFA,...

Business Editors

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Oct. 20, 2000

The Association for Investment Management and Research (AIMR), the leading organization for investment professionals worldwide, announced today that Frank K. Reilly, Ph.D., CFA, and Donald L. Tuttle, Ph.D., CFA,

The Fellows Program was initiated this year to provide recognition to individuals who have made significant contributions to the finance profession whether through distinguished scholarship or in other ways such as exemplary service to professional associations such as FMA and AIMR. The FMA chose to honor 20 people during the inaugural year of the award since the organization's board felt that so many people were deserving of the recognition. Going forward, the FMA will select only two fellows annually. Reilly, Tuttle and 18 other recipients will be formally inducted into the FMA Fellows Program during the 2000 FMA annual meeting in October.

Reilly is the Bernard J. Hank professor of finance at the University of Notre Dame. He previously served as chair (1998-1999) and vice chair (1997-1998) of the AIMR Board of Governors. He has published numerous articles and papers in financial journals and has authored two financial textbooks, including Investment Analysis and Portfolio Management, which is used widely in collegiate courses and is among the core publications used in the curriculum for the Chartered Financial Analyst (CFA(R)) Program.

Reilly also has served as editor of three other financial textbooks and commands respect both within the academic community and among investment practitioners. As a member of both AIMR and the Investment Analysts Society of Chicago, and through his tireless volunteer efforts with AIMR's Council on Education and Research and Financial Analysts Seminar Committee, Reilly has been instrumental in fostering the education of investment professionals.

Reilly's activities were recognized in 1991 when he received AIMR's C. Steward Sheppard Award, which is awarded to a distinguished CFA charterholder who has worked to advance the CFA Program's Body of Knowledge and develop and support continuing education resources.

Tuttle is vice president of special projects within AIMR's Curriculum and Examinations Division and recently was responsible for developing two fixed-income publications for the CFA curriculum, the use of item sets on CFA exams and the AIMR Specialization Program in Fixed Income and Equity. Previously, Tuttle served as chair of Indiana University business school's Department of Finance. He also worked as vice president and consultant at Trust and Investment Advisors of Indianapolis, Ind.

Tuttle has authored five books and numerous articles on security analysis and portfolio management. One of Tuttle's most notable contributions to the investment community was the 1983 publication Managing Investment Portfolios: A Dynamic Process, which he co-edited with John L. Maginn, CFA. This world-renowned publication, now in its second edition, remains an integral part of finance curricula around the world and is a core component of the CFA Program. Tuttle received the AIMR C. Stewart Sheppard Award in 1990 for his contributions to the CFA Program.

The FMA has been a long-standing recipient of Tuttle's dedication to the investment and academic professions through his work as president, vice president and executive director of the organization. In addition to these activities, he also is a former associate editor of both Financial Management and The Journal of Finance.

"When I received the letter notifying me of the award, I was extremely pleased and honored to be selected and included in the inaugural group of individuals, which includes my friend and colleague Don Tuttle and three Nobel laureates," remarked Reilly. "As I reflect on my career, I have been deeply committed to the FMA and AIMR. Because I have so much respect for the FMA and what it has accomplished, this is clearly a great honor for me."

Tuttle said he was "extremely pleased and honored" by being named an FMA Fellow. "To have one's work recognized in this fashion, and to be included among such a distinguished group of honorees, is very gratifying," he said.

AIMR president and CEO Thomas A. Bowman, CFA, said, "On behalf of AIMR, I am pleased to have such distinguished members in our ranks. Both Frank and Don have worked tirelessly for AIMR and FMA in advancing the investment profession and setting the standards for excellence within the academic community. They are truly deserving of this award."

The Association for Investment Management and Research is a professional association of 45,000 financial analysts, portfolio managers and other investment professionals in 95 countries. AIMR's membership also includes 97 local societies and chapters in 23 countries. Headquartered in Charlottesville, Va., USA, AIMR has a staffed office in Hong Kong and is preparing to open an office in London. In addition to the CFA Program, AIMR sets the highest standards for investment professionals worldwide through its Code of Ethics and Standards of Professional Conduct, to which all CFA charterholders and candidates must commit to adhere. It is also known for its industry-leading advocacy and standard-setting work that encourages full and fair disclosure of financial information for investors and anyone involved in the investment decision-making process. More information on AIMR is available by calling (804) 951-5499 or visiting www.aimr.org.