Trading challenge opens up to businesses
Published Wednesday, August 19th, 2009
Posted by Nick Eyriey
Editorial director Nick Eyriey is an experienced and respected journalist having spent some 20 years in the local and national press working with newspapers such as The Yorkshire Post, Today, The Sun, and the Mail on Sunday.
Last year's winners with (front l-r) Peter McGahan, Kate Whetter (CEBP) and Chris Rowe
Students from schools across Cornwall will go head to head with business leaders in a virtual stocks and shares challenge.
The Virtual Trading Challenge is being opened up to local companies for the first time, giving students the opportunity to take on experienced businessmen and women.
Now in its third year, the competition is organised by Truro and Wadebridge-based independent financial advisers Worldwide Financial Planning together with Cornwall Education Business Partnership.
The challenge forms part of Worldwide’s commitment to the financial capability scheme established by the Government aimed at improving knowledge and understanding of personal finance.
So far 24 school teams have signed up for the 09-10 competition, which launches on September 25.
Peter McGahan, managing director of Worldwide, said: “The number of teams that we get from schools and sixth forms in Cornwall is outstanding.
“As this is the first year that we’ve invited businesses take part in the competition, it will be interesting to see how the corporate teams handle the challenge of the next generation of Cornish entrepreneurs.
“The last two years have shown that students from across Cornwall have got a real aptitude for investments and I think they will be hard to beat.”
Each team will manage a virtual portfolio of stocks and shares worth £100k. The one making the greatest return over the seven-month competition wins.
The winning business will receive a trophy and a trip on the Worldwide RIB, while the winning student team will enjoy a trip to the Bank of England, a day on the RIB and £50 each.
Chris Rowe, independent financial adviser at Worldwide, added: “Over the last two years we’ve had some excellent student teams take part and make returns that high-paid investment managers have struggled to meet.
“That’s an amazing achievement, especially with the economic climate. I think it’s going to be a great challenge and it will be interesting to see how the businesses fare.”
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