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PrintAug 24, 2007
The JPMorgan Portfolio Competition provides competitors with a hypothetical A$200,000 to invest in ASX 300 shares over an eight week period. Final rankings are determined by total equity value at the conclusion of the competition.
A strategy of investing in mid-tier resources companies by Gary Ding from the Australian National University in Canberra saw him take out the $5,000 winner's prize in the 2007 JPMorgan Portfolio Competition. Gary's portfolio value had increased by 34.5 per cent by the end of the two month competition.
The JPMorgan Portfolio Competition provides competitors with a hypothetical A$200,000 to invest in ASX 300 shares over an eight week period. Final rankings are determined by total equity value at the conclusion of the competition.
More than 4,000 university students participated in this year's competition, an increase of 248 per cent compared with last year.
"The JPMorgan Portfolio Competition is a practical way for students to learn about financial market dynamics in a competitive environment. They are able to experience the excitement of trading on the Australian Securities Exchange and see the results of their investment strategies in real time," said Damian Roche, Head of Equities at JPMorgan Australia.
Gary Ding, the 2007 JPMorgan Portfolio Competition winner said, "I believe that the key lesson in the competition was gaining a better first hand understanding of the market's volatility. You really need to be on track with key company information and you need to understand the market expectation. Knowing and predicting the market expectation on the company you invest in and keeping an eye on the competition, is really the best way to stay on top of the stock market.
"With the prize money, I'm of course going to invest it in stocks! In the future I hope to be working on the trading floor of one of the world's top banks," he said.
JPMorgan's Mr. Roche added, "The JPMorgan Portfolio Competition provides the bank with a unique insight into the immense talent and calibre of students today. It is an important element of our hiring strategy which incorporates recruitment through education."
The second placed prize of $2,500 was awarded to Jin Ge from the University of Sydney and third placed prize of $1,500 awarded to Edward Jo of the University of New South Wales. The JPMorgan Portfolio Competition took place from April to June 2007 and was open to students at universities from all around Australia. Visit www.tradingplaces.com.au.
About JPMorgan: JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about JPMorgan is available on the Internet at www.jpmorgan.com.au.