All time investment records set at 2022 Scholars Investment Challenge
Another successful Scholars Investment Challenge produced a winning team with a staggering 100.6% return on investment, indicating that if it were real investing, the team would have doubled their clients’ assets in just six months.
The Namibian Scholars Investment Challenge, an investment competition for high school learners and university students, was started by the Economist 26 years ago. Over the years, the challenge’s administration has gone over to the Namibian Stock Exchange (NSX) while new partners came on board.
It is an investment game where participating teams are each allocated a phantom amount of N$500,000 which must then be invested in a portfolio of shares listed on the NSX. The ideal is for all teams to remain fully invested for the duration of the competition, and to chase margins through active trading.
This year’s winning team, Rich Young Minds, posted the unbelievable portfolio growth of just over 100%. In second place is The Big 43 with a return of 94.3%, in third The Finance Moguls with a return of 42.7%, in fourth The Buffetiers with a return of 26.9% and in fifth Desert Fox, still with a respectable return of 10.6%. These five teams received cash prizes ranging from N$50,000 to N$5000.
The challenge is hosted in partnership with Old Mutual, Future Media and the Financial Literacy Initiative, running over six months from April to September.
At last week’s award ceremony, Old Mutual Group Chief Executive, Tassius Chigariro, said “As a financial services provider with dual listings on the JSE and NSX, it is imperative for Old Mutual to help build capacity and skills which is in line with this year’s theme of Financial Education for Youth: The Role of Corporate Namibia.”
NSX Chief Executive, Tiaan Bazuin, said “We have been running the competition for the past 20 years with schools and the last couple of years with universities competing in the same competition as well. It has always been a financial literacy initiative project. The idea is that the institutions get involved to get the students to learn something completely out of their comfort zone. For this year, we had some of the best returns that we have ever seen in the competition and students really applied their minds.”
“Stock market trading is made up of incredible complexities that are learned over time. Creating a platform for the Namibian youth through the NSIC to bridge the knowledge gap in a fun and innovative manner that puts participants in direct contact with how the macroeconomy functions, speaks to the forward-thinking nature of the Old Mutual Namibia business,” commented Chigariro.
Old Mutual Group Chief Executive, Tassius Chigariro (left) with the winning team, Rich Young Minds, the Chief Executive of the Namibian Stock Exchange, Tiaan Bazuin (third from right), and the Chief Executive of Future Media, Gary Stroebel (right).