CedarBridge tops KPMG Schools Investment Challenge
CedarBridge Academy emerged victorious in an investment competition which pitted 14 teams from seven schools against each other.
Two of its teams — “Core Investments” and “Crunch Time Investors” — placed first and third respectively in the eighth annual KPMG Senior School Investment Challenge winning a total of $14,000 in real cash for their school.
Coming second was the Berkeley Institute’s “Game Changers” which was awarded $6,000.
“In the history of the challenge, this is the first time two teams from the same school placed in the top three,” a KPMG press release stated.
The Challenge involves teams of students managing a virtual portfolio of $50,000 and investing it in the stock market over a six-month period starting in October.
Each team invests between ten and 20 securities, of which at least one must have a primary listing on the Bermuda Stock Exchange.
KPMG staff mentor and assist the students and the three teams with the highest value portfolios are awarded cash prizes of $10,000, $6,000 and $4,000, for use by their school.
Investing as “Core Investments”, the first place winner, were Ethan Rogers and J.D. Symonds.
Dominic Lambe, Guisti Clarke, Arron Lindsay, and Raymond Beans teamed up as the “Game Changers”, while third place winner “Crunch Time Investors” consisted of Matthias Lawrence, Marquis Caines and Jumoke Stovell.
Education Minister Nalton Brangman presented the awards on Tuesday, and praised both the students and KPMG for its success.
Craig Bridgewater, Managing Director, KPMG, said: “the Investment Challenge has returned excellent value yet again, both in the virtual portfolios and in the benefits accruing to the students and their schools.”