In an effort to encourage those who typically don't participate in the investment world to get involved, the
"We are dedicating to funding educational programs and research projects that will put effective and unbiased information in the hands of each and every investor," said Robert R. Glauber, chairman of the NASD Investor Education Foundation and CEO of the NASD.
The grants, which range from $487,342 to $140,880, will go to universities and media outlets. The foundation identified increasing awareness among the "underserved segments of the investing public" as a priority after examining the results of NASD's 2003 Investor Survey. That survey found that women, minorities and older Americans lacked adequate access to objective market analyses and basic information about financial issues.
To help address this information void, the foundation awarded two grants to media outlets. The first, and largest, is a $487,342 grant to
The remaining grants go to educational institutions, to study trends and develop investor education programs.
NASD awarded
Besides attracting adults, NASD aims to begin educating the next generation of investors, awarding $147,623 to the
These grants will be followed with another program. The Life-Cycle Investing Program will aim to demonstrate practical examples of how long-term investing can build wealth for the average American. Grant applications for that program are being accepted through April 7.