Warwick Academy was declared the winner of KPMG’s annual Bermuda Senior School Investment Challenge for the second year in a row, at a special awards ceremony at City Hall.

The school’s Madoff with the Money team made a profit of $20,963.89 in the virtual investments challenge making 32 trades over the course of six months.

They came top out of 21 teams from eight participating schools.

Berkeley Institute’s All or Nothin team secured second place with a profit of $17,754.80 after 26 trades, while Somersfield Academy’s RiskyBusiness SA team came third with a $15,455.22 profit in 47 trades.

This year’s challenge introduced cryptocurrency trading for the first time, reflecting the evolving global investment landscape.

KPMG said by incorporating digital assets alongside traditional securities, students gained exposure to emerging market trends and the unique risks and opportunities associated with crypto investing.

The addition encouraged participants to think critically about volatility, diversification and the impact of global events on both traditional and digital markets, further enhancing the real-world relevance of the programme.

Felicia Wilsen, partner at KPMG in Bermuda and chairwoman of the Lift-Off Programme, said as part of its Lift-Off programme, the Senior School Investment Challenge continues to provide students with meaningful exposure to investing, financial markets and global business influences.

“Through real-world market simulations and mentorship, students gain essential skills in research, analysis, decision-making and teamwork, while also exploring potential career paths within Bermuda’s financial services sector,” Ms Wilsen said.

The awards ceremony was attended by Crystal Caesar, the Minister of Education; Craig Bridgewater, one of the founders of the investment challenge; KPMG partners and mentors and representatives from external organisations including LOM, Butterfield Asset Management and the CFA Society.

This was the 21st year for the challenge.

It gives student teams $100,000 in virtual funds to invest across global capital markets over a six-month period, using real-time data. Students are required to navigate market volatility, assess risk and develop investment strategies influenced by economic, geopolitical and industry-specific factors.

This year, Bermuda Institute, The Berkeley Institute, CedarBridge Academy, Mount Saint Agnes Academy, Saltus Grammar School, Somersfield Academy, Bermuda High School and Warwick Academy took part.

A student panel discussion formed part of this year’s ceremony, with one representative from each school reflecting on their experience throughout the challenge.

KPMG said students spoke thoughtfully about the unpredictability of the markets and the importance of adaptability and research when building an investment strategy.

The top three teams earned real cash prizes awarded to their schools to support educational initiatives: $10,000 for first place, $6,000 for second place and $4,000 for third place.

KPMG also presented special awards recognising exceptional performance, including Most Profitable Trading Month, Highest Average Portfolio Value and Boldest Crypto Strategy.

Reflecting on Warwick Academy’s success, Matt Mitchell, head of business, economics and computing at the school, said much of the $10,000 would be donated to the school’s bursary fund for families requiring financial assistance.

“Some of the funds will be reinvested within the business, economics and computing department to allow further educational resources to be purchased to maintain high academic attainment as well as help fund future school trips,” Mr Mitchell said.