Berkeley Institute students won the annual KMPG Investment Challenge for schools.

The competition, contested by 16 teams from seven schools across the island, involves students being given a virtual $100,000 portfolio to manage. They select stocks to invest in and adjust their portfolio during the span of the six-month competition.

The ceremony took place at the City Hall and Arts Centre where the winning team was awarded a $10,000 cheque that will be donated to their school.

Berkeley students proved to be the master stock pickers, with teams in first and third place.

Berkeley team Twin Tech Bulls topped the rankings with an impressive return of 13.88 per cent which left their portfolio valued at $113,876, while third-placed Knock Your Socks Off had a return of 9.11 per cent leaving their portfolio valued at $109,105.

In second place was Warwick Academy team, the Warwick Wolfpack, with a return of 13.02 per cent and a final portfolio value of $113,023, who won a cash prize for their school of $6,000.

Because each school was allowed to win only one cash prize, the award for third place went to the fourth-placed team, which was the Bermuda Institute team, BI Cash Cows, who received $4,000 for their school.

The Berkeley team and everyone involved with it, were thrilled with their award and felt a great sense of accomplishment.

Zahkari Minors, of The Twin Tech Bulls team, said: “This competition was a great investment into the insurance industry. A win was to be expected from the start because our team was strong.”

Fellow team member Tyler Trott said he was excited and feels a sense of accomplishment.

Kiarah Seon said: “I believe our hard work and diligence is the reason why we persevered the way we did and we hope to have the same opportunities in the future.”

Team-mate Taye Lamb wasn’t confident at first, but is excited about the win, while Casey Hardtman said the team performed well from the start.

Berkeley Institute teacher Wade Herman is happy for his students. “I picked these students, because they have been with me from S1 and they have good potential,” Mr Herman said. “So I entered them in the competition and we had conversations about what were the good stocks to buy. I saw that they got into their own element and had victory.”

Wanda Armstrong, project lead of the KPMG Investment Challenge, was impressed by the students who participated this year.

“This year was the KPMG Investment Challenge’s 13th annual awards, and I can say that the 16 teams that were involved were very challenging and engaged — they had so much enthusiasm,” she said.

KPMG mentors played a key role in the challenge by visiting the schools and providing students with advice on investing.

Ms Armstong added: “I have been with the challenge for eight years as project manager and every year it gets better and better.” She explained that the competition is a gateway to a future career within KPMG.

“Students who participate get summer internships within KPMG which will lead to work experience, then eventually can start working with a summer internship. “Eventually some will be hired as full-time accountants within KPMG,” she added.

Steven Woodward, managing director and head of KPMG Enterprise, said he was impressed with the quality of the students who had taken part in the competition — this year and in the past.

“We just want to get them thinking of a career in finance or something within the investment industry,” Mr Woodward said.

“We are using it as a way of getting into KPMG. If you look at the current staff we have they are studying for their accountant designations and many of them have participated in the KPMG Investment Challenge in the past.”

The six-month challenge started in October and concluded at the end of April.

• For more information on the KPMG Investment Challenge, contact Wanda Armstrong at wandaarmstrong@kpmg.bm