The Alfred Nicholas Fund was established in 1965, by Brayburn Securities Limited, formerly Carnbrea Pty. Limited, who offered a gift of property at Sassafras to the University for teaching and research in the biological sciences, in particular, for the use of the then departments of Zoology, Genetics and Botany. With the support of Brayburn Securities Limited, the property was later sold and the funds used to establish an endowed fund in memory of Alfred Nicholas, to provide an annual award for undergraduate or graduate students undertaking research in zoology, genetics or botany.