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KPMG Investment Challenge launches with more interaction

Last year’s winning team from CedarBridge Academy of Dekeda Gilbert, left, Azzi Wolffe, Chelsea Minors, Emmico Hayward-DeShields, with Diallo Rabain, the Minister of Education, and KPMG CEO James Berry (Photograph supplied)

The KPMG Senior School Investment Challenge enters its 20th year, promising participating students more one-on-one interaction.

KPMG event organiser Kyran Simmons said it was time to up the ante this year after the team count fell from 21 to 18.

“That is not much of a change,” he said, “but I felt it was due to less interest.” At least one teacher agreed with that assessment.

“Usually in the challenge, we speak to the students in the beginning at an information session, and then at the end when we announce the winners,” he said.

This year the plan is for KPMG staff to visit all 13 schools involved, at least once during the six-month competition.

“We want to build a relationship with the students,” Mr Simmons said. “We will talk not just about investment stuff, but also what they are interested in. We want to get that direct communication. It brings more interest to the programme.“

That includes an investment information session on February 6 for the students to learn more about the different investment companies in Bermuda.

Mr Simmons said: “At least six different companies will be coming in to talk to the students.”

The competition provides each team with a virtual $100,000 to make mock trades in the stock market to determine who can build the largest virtual portfolio in six months.

Because of their success in the markets, Apple and Tesla stocks are expected to attract a lot of interest.

Right after the US election on November 6, Tesla surged 8 per cent, pushing the company’s market cap past $1 trillion. Apple rose as well.

Mr Simmons said: “The election definitely had a big impact on the stock market.

“Donald Trump has his foot in some of these companies. That increases the stock price.”

The KPMG staff accountant never took part in the challenge as a student, but wishes he had.

“I don’t think they pushed it as much when I was in school,” he said. “It gives a lot of opportunities to the children, in terms of careers. Some of them get interested in investing once the challenge is done.”

The OreoCookies team from CedarBridge Academy won the last challenge in May with a $34,014.47 mock profit.

The top prize is $10,000 of real money for the winning school.

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Published November 20, 2024 at 1:48 pm (Updated November 20, 2024 at 6:56 pm)

KPMG Investment Challenge launches with more interaction

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