Dear Friend,

In the days and weeks that have passed since 11 September, we have heard from AIMR members and CFA candidates around the world. They have expressed shock. They have expressed anger. And they have expressed sadness for those who died, at least 56 of whom were fellow AIMR members and CFA candidates.

Above all else, however, the members and candidates with whom we have spoken have expressed an eagerness to become active participants in the world?s recovery from these tragic events. In response to their desires, and in honor of the many thousands of people who died or who were permanently injured in the attacks, the AIMR Board of Governors has established:

The AIMR 11 September Memorial Scholarship Fund (to contribute online go to http://www.aimr.org/featuring/research/11septscholarship/index.html).

The fund will provide scholarships to those victimized by the terrorist attacks of 11 September 2001--casualties and their spouses, domestic partners, and dependents. Scholarship recipients will have stated a desire to pursue an undergraduate degree in finance, economics, or a related field.

A distinguishing feature of this fund is that scholarship recipients will come from nations all over the world.

While terrorists attacked humanity on 11 September, their choice of the World Trade Center was not coincidental. It was a clear attempt to undermine free and open capital markets everywhere in the world. This scholarship fund is therefore intended not only to benefit the casualties and their surviving loved ones, but ultimately the global investment community itself by encouraging a new generation of bright minds to explore the opportunities available in the fields of finance and economics.

AIMR has established the fund with an initial grant of US$1,000,000 of its own. We will rely on members, CFA candidates, and others from the global investment community to provide additional contributions. The scholarship program will be managed through the Research Foundation of AIMR, a 501(c) 3 charitable organization under U.S. tax law.

Certainly there is no shortage of charitable causes related to the 11 September attacks to which you can contribute.  As you consider whether to make a contribution to the AIMR Memorial Scholarship Fund, you should know that one hundred percent of collected funds will be re-distributed to scholarship recipients. In other words, AIMR will not use any of the contributions to offset the administration of the fund.

You will be receiving this same solicitation by mail in the next week or two. You also can make a contribution via the AIMR Web site at http://www.aimr.org/featuring/research/11septscholarship/index.html. For tax advantages, some may prefer to contribute securities rather than cash.  Whatever way you choose to give, your contribution is likely to be tax deductible.*

Day by day, the world and the investment community are recovering from the events of 11 September and getting on with our lives. We believe the best way AIMR and the Research Foundation can honor the victims of the attacks is through a collective act of kindness such as what has been described above. We hope you or your firm will join AIMR in making a generous contribution to the AIMR 11 September Memorial Scholarship Fund.

Sincerely,

Philippe A. Sarasin, CFA
AIMR Chair

Thomas A. Bowman, CFA
AIMR President & CEO

Fred H. Speece, Jr., CFA
Chair of the Research Foundation

P.S. If you choose to make a contribution by check, please make it payable to the AIMR 11 September Memorial Scholarship Fund. If you wish to make a contribution by phone, please call 1-800-247-8132 or 434-951-5499.


*Consult your tax advisor to verify that your contribution to the Research Foundation is indeed tax deductible.