BHS claw to top of KPMG Investment Challenge
The BHS squad “Business of Babylon” has seized the lead heading down the stretch of the 21-team KPMG 17th Annual Senior School Investment Challenge, which ends on May 31.
None of the teams have fully recovered all their losses for the season, although five weeks are left in the competition.
The challenge was launched in 2005 as part of KPMG’s ongoing commitment to education and youth development. This year’s competition began in November.
Students manage a virtual portfolio of $100,000 trading over six months. Teams from all local senior schools are invited to participate (21 teams from ten schools are signed up). There are two to three KPMG mentors assigned to each team
A total of $20,000 is up for grabs, half of which goes to the school of the winning team, at the prize giving in early June at the Bermuda Society of Arts, City Hall.
Under the terms of the investment club-like initiative, each school is permitted to enter a maximum of three teams per year, comprised of three to ten students, and each team is given $100,000 in virtual funds to trade over six months.
At the end of the programme, real cash prizes of $10,000, $6,000 and $4,000 are awarded to the first, second and third placed teams, respectively. These funds can be used by the schools for a variety of educational initiatives.
Heading into the home stretch, less than $2,000 separate the first and third place teams ($1,946.64), and the top two teams are separated by only $350.26.
The BHS team, Business of Babylon ($99,207.51), has taken over the lead held for the past two months by a Bermuda Institute team DollaBillz2024 ($98,857.25). In third place is the Saltus team, SaltusGroup2 ($97,260.87).
The objective of the challenge is to stimulate interest in the concept of “investing for the future”; develop awareness of the capital markets, the types of securities available and career opportunities (accountants, bankers, lawyers, regulators, analysts, investment advisers, fund administrators, pension planners, educators, etc).
KPMG also wanted to increase the students’ exposure to International business activities as they impact global and local stock markets; create a programme that can be specifically structured to complement and enhance each school’s current curriculum; co-ordinate the participation of KPMG and other affiliate speakers upon request; generate more interest from the business community in Bermuda's senior schools; and provide a fun project for both students and teachers that is highly visible in the community.
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