More than 200 Philadelphia-area asset management professionals gathered on Nov. 7 at The Logan Philadelphia to raise money for Achieve Now and to celebrate Philadelphia’s deep roots and influence in national financial markets and services, including traditional mutual funds and alternative asset vehicles. Nobel laureate financial economist and professor Myron Scholes was the event’s keynote speaker.
The event raised more than $100,000 for the Achieve Now, a nonprofit dedicated to transforming the educational system in Philadelphia to one that produces students who can read.
Formed in 2016, PFA was created to hold an annual fundraiser to benefit a charity in the greater Philadelphia area and to highlight the region’s impact on the registered funds, asset management and alternatives space. Last year’s PFA gala raised more than $80,000 for the Take A Breather Foundation, a nonprofit organization that fulfills wishes for those children and adults living with cystic fibrosis (CF).
Sponsors for 2019 included Aberdeen Standard Investments, ACA Compliance Group, BBD, Broadridge Financial Solutions, Inc., Bryn Mawr Trust Wealth Management, Deloitte, DLA Piper, Drinker Biddle, EY, FS Investments, Glenmede Investment Management LP, KPMG, Macquarie Investment Management, Morgan Lewis, Pepper Hamilton, PwC, SEI Investments Company, Stradley Ronon and Tait Weller. The event’s printing sponsor was Toppan Merrill, the floral sponsor was Kremp Florist and the music sponsor was University of the Arts.
Professor Myron Scholes is widely known for his seminal work in options pricing, capital market equilibrium, tax policies and the financial services industry. He is widely published in academic journals. He is co-originator of the Black-Scholes options pricing model, which is the basis of the pricing and risk-management technology that is used to value and to manage the risk of options contained in instruments around the world. For his work on “a new theory to value derivatives…”, he (along with Robert Merton) was awarded the Alfred Nobel Memorial Prize in Economic Sciences in 1997.
Achieve Now is dedicated to transforming the educational system in Philadelphia to one that produces students who can read. We will do this by incorporating evidence-based literacy instruction into Philadelphia schools, resulting in dramatic improvements in grade level reading. Once we have significantly improved literacy rates in Philadelphia, we will take our proven methods to other communities to increase literacy rates for even more American schoolchildren.