Five faculty members of the University of Utah's business finance department have been named Garn Scholars and will receive $6,000 each in summer research funding from The Garn Institute of Finance.

Jeff Coles, Richard Jefferis, Elizabeth Johnston, Jaime F. Zender and Steven Manaster will receive their awards at a luncheon June 3 at the Fort Douglas Country Club.

The institute was established in honor of Utah Sen. Jake Garn, former chairman of Senate banking committee, to foster dialogue among business, government and academic leaders.

"One of our primary missions is to provide the research needed to make informed decisions in the complex financial marketplace and to help shape the financial system for the future," said Richard T. Pratt, institute chairman.

Money for the five scholars come from contributions made by the institute's 75 individual and corporate members representing corporations in the local and international financial services industry.