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University of Iowa News Release

 

Jan. 5, 2010

Finance professor helping to build clean technology mutual fund

University of Iowa finance professor Jon Garfinkel has joined the strategic advisory board of an investment fund that focuses on clean technology businesses, helping to build the infrastructure for a sustainable economy.

Garfinkel, who teaches in the Tippie College of Business, is an advisory board member of the Chicago-based Kline Capital Clean Technology Fund, a hedge fund that invests in businesses globally that have a clean technology focus. As a board member he will work with the fund's manager, Matthew Kline, to provide "macro level thinking."

"The board will analyze where the clean tech industry, the overall economy and the stock market are and where they might be going," Garfinkel said. "We don't look at specific companies. Rather, we focus more on industry performance time series and industry characteristics."

He said the fund is taking a broad definition of clean technology, and so could invest in a wide spectrum of businesses, including alternative energy, energy storage, agriculture, nanotechnology and manufacturing.

He said he hopes his work on the board can help young clean technology companies get off the ground and create jobs, building a strong foundation for a more sustainable future economy.

Since its inception in January 2009, the fund has grown by 41 percent, beating the S&P 500 and other benchmarks.

Garfinkel, who met Kline when Garfinkel was on the faculty at Loyola University in Chicago and Kline was one of his students, said his work may also help Tippie students by possibly opening up internship possibilities with Kline's company.

STORY SOURCE: University of Iowa News Service, 300 Plaza Centre One, Iowa City, Iowa 52242-2500

MEDIA CONTACT: Tom Snee, 319-384-0010 (office), 319-541-8434 (cell), tom-snee@uiowa.edu