The Australian Prudential Regulation Authority (APRA) has announced the recipients of the 2018 Brian Gray Scholarship.

The scholarships, valued at $15,000 each, support honours and PhD students studying topics relating to the financial sector, with their findings to be presented to APRA upon completion.

The recipients of the 2018 scholarship are:

• June Chan of University of New South Wales, who will be researching on Issues in funds governance;
• Mitchell Harvey of Monash University, whose topic is Asset Bubbles and Monetary Policy Shocks: Is there a relationship? Conducting quantitative research exploring if there is a relationship between monetary policy shocks and asset bubbles; and
• Kevin Krahe of University of New South Wales, who will look into Improving the hedging of risk associated with retirement income portfolios and developing a “value-based longevity index” to improve hedging efficiency and reducing basis risk.

The scholarship holders may also gain valuable work experience with APRA during their final year of study.

The scholarships were established in memory of the late Brian Gray, who was APRA’s executive general manager of policy research and consulting. Gray spent more than two decades shaping regulatory policy in the financial area in his roles at the Reserve Bank of Australia and APRA.