The Australian Prudential Regulatory Authority (APRA) has awarded two scholarships to two university Honours candidates to support their actuarial and commerce studies.

Luke Zhou, from the University of New South Wales, and Raymond He, from the University of Melbourne, were each awarded the $15,000 Brian Gray scholarships, established in 2002 in memory of APRA’s former executive general manager, policy research and consulting.

Mr Zhou and Mr He will devote a substantial amount of time on researching retirement income products and monetary policy coordination and will present their findings to the prudential regulator and the Reserve Bank when finished.