A FINANCIAL education programme set up with £1.5m of donations from fund managers has received a major funding boost.

The Stewart Ivory Financial Education Programme (SIFEP) has been awarded a £45,000 grant by the Chartered Institute for Securities & Investment (CISI) as part of a three year sponsorship.

SIFEP provides financial education sessions for school leavers throughout Scotland, last year reaching 223 schools and 15,000 students.

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The programme grew out of the Stewart Ivory Foundation, a seven-year trust set up in 2001 with £1.5m donated by the directors of the Edinburgh-based Stewart Ivory fund house when it was sold.

Hamish Buchan, chairman of SIFEP, welcomed the sponsorship. She said: "The financial issues facing young people continue to be highly challenging."