FRIDAY, NOV. 16: The KPMG Challenge has kicked off again this year with 14 teams vying for the win.

Seven high schools have submitted teams to participate in the eighth year of competition.

The challenge sees the teams submit investment portfolios and trade over the course of the school year.

After the first week of initial trading the Saltus Goldfingers are leading the challenge, with a portfolio value of $50,977.

They are followed closely by second place team Bermuda Institute Profit Bulls with a portfolio value of $50,855.

Other teams include Bermuda Institute Tradewins, BHS Common Sense, Investalads and DATZ Crazy, Saltus Rogue Traders, Somersfield Cash Hungry Hippos, Warwick Academy Black Jack Traders and Risky Business, Berkeley Institute Money Savers and Game Changers and CedarBridge Academy Core Investment and Crunch Time Traders.

Wanda Armstrong, human resources manager at KPMG said the initial portfolios of all teams are highly concentrated in United States, Bermuda and British securities, with minor positions held in exotic destinations such as Italy, Panama and the Bahamas.

Bermuda

All teams are required to hold at least one Bermudian company traded on the BSX in their portfolios, with most teams opting for well-known names such as Bank of NT Butterfield, Argus Group Holdings and BF&M Ltd.

The teams have chosen to invest primarily in actively traded US common stocks with other minimal investments in ADRs (American Depository Receipts) and ETP’s (Global Depository Receipts).

Across industry sectors, the portfolios are very well diversified with the Consumer products, Communications and Technology sectors leading the way.

The school that wins the competition is awarded money that will go to their school.


*Graph supplied