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The Foundation
Teaching: Publications

Key figures


Number of PhDs currently funded by the Foundation


Additional budget allocated to students for travel and purchase of computer equipment.


Gross monthly salary received by a doctoral student funded by the Foundation 


Number of PhDs funded by the Foundat since its creation.


Year of creation of the Fondation CFM pour la Recherche. 


Budget spent on average by the Fondation CFM per student during their PhD.

Our values


The candidates are first chosen by their doctoral school. They then have interviews with the members of the Foundation's council. This procedure ensures that the students selected by the Foundation are among the most promising in their discipline.


Enthusiasm together with motivation, good-humored, and the desire to succeed, all are ingredients shared by CFM employees. The Fondation CFM is therefore naturally looking for the same enthusiasm in the young researchers it funds.

Faith in research

For the Foundation, research is a means of personal and collective development. Personal because it allows you to build your personality through the exploration of new horizons, and collective because the benefits of discoveries fall on society as a whole.

The objectives of the Foundation

Transfer skills

The Fondation CFM pour la Recherche was recognized as being in the public interest by decree in the Journal Officiel dated March 30, 2009. Capital Fund Management (CFM), founded in 1991, is a portfolio management company. The guiding principle of its development has been and remains a transfer of skills from the physics and applied mathematics laboratories to the financial markets, in the form of the regular recruitment of researchers. Among the 300 employees that CFM counts, a fourth are researchers, most of them doctors of science. Thus a close link has always existed between Capital Fund Management and the world of research.

Contribute to the national research effort

This link has so far mainly benefited the company. Its founders and partners, in particular Jean-Pierre Aguilar fifteen years ago, wanted the benefit to be better shared by contributing directly to the national research effort, in various forms: funding of fundamental research PhDs, contribution to the organization of conferences, invitation of foreign researchers, etc.

Provide “Jean-Pierre Aguilar” scholarships in the exact sciences

The Foundation wishes in particular to finance three to six PhDs per year (“Jean-Pierre Aguilar” scholarships) in the exact sciences on themes in general not related to CFM's activity. We wish to award better scholarships compared to what is available at present. Our objective is to contribute to revaluing the doctorate diploma and research in general, by allowing the best elements to carry out a PhD under good financial conditions rather than starting a professional activity prematurely, a trend which has accelerated in recent years due to a growing financial contrast between the two types of careers. On the other hand, the Foundation allows companies to sponsor promising students. CFM, which is well established in the academic world, can make companies benefit from its reputation with schools and thus help them find doctoral students with thesis subjects that may be of interest to them.

"We must restore the image of intellectual effort, of the long term, of creative research. This is the ambition, on our very modest scale, of the Fondation CFM pour la Recherche and the JP Aguilar scholarships."

Jean-Philippe Bouchaud, President

President's word

Interview Jean-Philippe Bouchaud pour la Fondation CFM
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