Stock exchange announces winners of this year’s Scholars Investment Challenge
An investment competition for learners and students started in 1997 by the Namibia Economist has just delivered its seventeenth dividend when a band of young investors from the University of Namibia managed to generate a more than six percent return on their portfolio in only one semester.
The Namibian Stock Exchange announced last Friday that team Prosperity Brokers from UNAM is the winner in this year’s Scholars Investment Challenge with an impressive return of 6.28% on their investment portfolio in an investment window starting on 01 June this year and ended a fortnight ago on 16 November 2018.
The team received their N$25000 prize money sponsored by IJG Securities at a special event on the campus of the Namibia University of Science and Technology in Windhoek.
Over the years the competition has remained true to its original concept except that the focus has shifted to university level whereas in the past, the focus was on Grade 12 learners. Each participating team is given a phantom portfolio of real shares listed on the Namibian Stock Exchange which they must then trade to generate a profit. Trades are effected by the participating sponsoring brokers.
The team with the highest return is the winner.
The competition promotes awareness among scholars and the general public on the role and operations of the Namibian capital market. This year 40 teams from four universities, UNAM, NUST, IUM and Welwitchia, participated.
In second spot was team UNAM 4s with a 2.99% return. They received a prize of N$20,000 sponsored by the Capricorn Group.
Third was team Leviticus, also from UNAM, with a 2.45% return. They received N$15,000 sponsored by Letshego.
Fourth was team NSX Bulls from the University of Science and Technology with a 0.75% return. They received a N$10,000 prize sponsored by FirstRand Namibia.
Fifth was another UNAM team, the Gladiators with a 0.48% return. Their prize was N$5000 also sponsored by FirstRand Namibia.
Thanking the many sponsors, the stock exchange stated “A competition such as this would not be possible without committed and caring partners. The sponsors have made sure that the competition maintains its attraction and prestige by providing financial and other assistance. Without them the competition would not have been a success.”
The Scholars Investment Challenge is sponsored by IJG Securities, Capricorn Group, Letshego, FirstRand Namibia, PSG Wealth Management, Namibia Breweries as part of the O&L Group, the Financial Literacy Initiative, AIESEC and the Namibia University of Science and Technology.
Caption: Best performing investment team from UNAM, Prosperity Brokers with the Chief Executive of the Namibian Stock Exchange, Tiaan Bazuin on the right.
