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24 April 2009

A team of year 12 pupils from Bodmin College has scooped an award for their financial investment acumen after making the greatest return on a virtual £100,000 in a stocks and shares competition.

The AS level students returned almost 40 percent to beat 17 other teams from schools across Cornwall in the second annual Worldwide Financial Planning and Education Business Partnership (EBP) Virtual Trading Challenge.

In a remarkable late run during the last month, Bodmin A, overturned a £12,000 deficit to pip last year’s champions, Pool Business and Enterprise College, and their college friends in Bodmin B.

The results were: Bodmin A - £138,919.90, Pool B - £131,472.72, and Bodmin B - £129,378.89.

“The turnaround over the last month has been incredible,” said Worldwide’s managing director, Peter McGahan.

“During the course of the competition we kept a close eye on the teams and their investments, and for a long time it looked as if Pool would be victorious once again.

“But credit to both Bodmin teams, who kept the same shares from the start of the challenge. It paid off with them finishing first and third.”

And for their efforts the Bodmin A team picked up £60 prize money, and will now board an Air South West flight from Newquay to London City Airport for a tour of the Bank of England courtesy of Worldwide.

Sam Mullin, a member of the victorious Bodmin A team, said: “Its brilliant and a real shock.

“We didn’t expect to win, but it was a great experience and we’re really looking forward to the trip to London.

“I think the competition is a great idea as I’m studying business and it’s been a real help to learn about the stockmarket.”

Launched in September last year the competition aimed to encourage pupils to learn how the stock market and shares worked.

Each team was given a virtual £100,000 to invest, and over the six months had the chance to buy and sell, depending on how their portfolio was looking.

Chris Rowe, independent financial adviser at Worldwide, said: “I think the Virtual Trading Challenge is a fantastic opportunity for young people to learn about money and investment, and I’m proud that Worldwide is able to offer the support.

“Much like last year it was an exciting finale and who knows, we may have a budding Chancellor amongst the teams.”

Co-organiser, Kate Whetter of EBP said: “The pupils have all done exceptionally well in this challenge. For half the teams to return a profit during one of the worst recessions the world has seen is remarkable.

“It also bodes well for the future that so many young people have taken an active interest in money and finance.”

For more information on Worldwide Financial Planning please contact Peter McGahan on  01208 816667  or email info@wwfp.net