HONG KONG: J.P. Morgan Asset Management announces the winners of university fantasy fund manager 2011
Apr 24, 2012
Hong Kong, 24 April 2012: J.P. Morgan Asset Management (JPMAM) today announced the winners of the University Fantasy Fund Manager 2011 (UFFM), an educational competition first launched in 2009 to provide university students in Hong Kong with an opportunity to gain realistic investment experience. Now in its third year, the UFFM has expanded its collaboration to 10 local universities and seen an increase in student participation. In addition, new prizes and a summer internship opportunity are now offered.
Sponsored by JPMAM and jointly organized with 10 colleges and universities* in Hong Kong, UFFM 2011 has drawn over 1,700 students to enter the Individual Challenge and 145 teams (each made up of four to five students) to sign up for the Group Challenge. Around 800 students have attended the JPM Investment Academy sessions run on university campuses to provide them with a basic knowledge of fund investing, portfolio management and market analysis.
The UFFM was founded in 2009 with the participation of only three local universities. The 2011 competition has been extended to welcome students from all disciplines studying in 10 local universities. UFFM 2011’s registration rate has also increased – by more than 80% – when compared to the 2010 competition.
Speaking at the UFFM 2011 award presentation ceremony, Ken Tam, Head of North Asia, said, “When we introduced the UFFM in 2009, our objective was to help the younger generation to become more financially literate through a program that combines investment education and competition. We are delighted to see the program expand year after year, with the continued and growing support from local universities. Only three universities participated in UFFM in 2009, then nine in 2010 and now 10 – it’s very encouraging. It is particularly encouraging to see that the investment knowledge of students participating in the competition has improved significantly over the years.”
The UFFM 2011 competition, which kicked off in November 2011, consists of a Group Challenge and an Individual Challenge. The Group Challenge is a team-based, simulated portfolio-building competition. The teams are given a scenario where they have to develop a tailor-made investment proposal. They must give portfolio recommendations that meet the return expectations and risk appetite of a ‘virtual client.’ The shortlisted teams then present to a panel of judges and their investment proposals are evaluated based on structure, technicality, suitability and presentation.
In the Group Challenge, team ‘Alpha Glocal Partners’ (made up of students from the University of Hong Kong, the Hong Kong University of Science and Technology and the Hong Kong Polytechnic University) was the winner. Team ‘Alpha’ and team ‘Diversity’, both from the Chinese University of Hong Kong, were named first and second runners-up. The winning teams were awarded HKD20,000, HKD10,000 and HKD5,000, respectively, for fund investment into new accounts to be set up with JPMAM.
On top of these monetary prizes, Boris Ng, a member of team Alpha, was offered a paid summer internship position at JPMAM for one month.
In the Individual Challenge, each participant is granted USD10 million ‘virtual money’ to construct and invest in a portfolio of funds managed by JPMAM. The performance of the participant’s portfolio is judged based on the actual performance of the J.P. Morgan funds for the period 1 November 2011 to 30 March 2012.
The winner of the Individual Challenge Overall Performance Award was Chen Chang from the University of Hong Kong. The first and second runners-up were Yu Hang Lit from the Hong Kong University of Science and Technology and Moyi Gao from the University of Hong Kong respectively. They were awarded HKD3,000, HKD2,000 and HKD1,000, respectively, for fund investment into a new account to be set up with JPMAM.
In addition to the Overall Performance Awards, the Overall Best Sharpe Ratio Award was introduced this year. Xiaowei Xu from the City University of Hong Kong was the winner of this award and received HKD1,000 for fund investment into a new account to be set up with JPMAM.
Also new in the 2011 program are the Monthly Performance and Best Sharpe Ratio Awards. These are awarded to the portfolios with the highest return and best Sharpe ratio in each month during the competition period. Each winner received a HKD200 bookstore coupon. The monthly award winners are:
|Best Performance Award||University|
|November 2011||Zizi Zhang||The University of Hong Kong|
|December 2011||Boon Sing Ip||The Chinese University of Hong Kong|
|January 2012||Chak Lam Wong||The Chinese University of Hong Kong|
|February 2012||Chi Chiu Lung||The Chinese University of Hong Kong|
|March 2012||Chen Chang||The University of Hong Kong|
|Best Sharpe Ratio Award||University|
|November 2011||N/A (No winner due to negative Sharpe ratio)||N/A|
|December 2011||Chun Hong Chan and
Fung Shun Wai
|The Hong Kong University of Science and Technology
City University of Hong Kong
|January 2012||Hiu Wang Chan||The Chinese University of Hong Kong|
|February 2012||Yuk Pan Yu||City University of Hong Kong|
|March 2012||Yeung Siu Lun||The Open University of Hong Kong|
In addition to receiving a Certificate of Merit awarded by JPMAM and a copy of the JPM Investment Academy 3-in-1 Learning Kit, all winners were invited to attend an exclusive Fund Manager Sharing Session. Victor Lee, Regional Investment Manager with the Pacific Regional Group, shared his valuable investment experience and insights.
*Participating universities: City University of Hong Kong, Hang Seng Management College, Hong Kong Baptist University, Hong Kong Shue Yan University, Lingnan University, The Chinese University of Hong Kong, The Hong Kong Polytechnic University, The Hong Kong University of Science and Technology, The Open University of Hong Kong and The University of Hong Kong.
– End –
For further information please contact:
Daniel Chui, Head of Investor Communications
Telephone: (852) 2800 2874
Harriet Ngan, Internal & Media Communications
Telephone: (852) 2800 2776
Issued by JPMorgan Funds (Asia) Limited
Notes to Editors
J.P. Morgan Asset Management ("JPMAM") is the brand name of J.P. Morgan Chase & Co’s asset management companies, including JPMorgan Funds (Asia) Limited.
J.P. Morgan Asset Management is a global asset management leader providing world-class investment solutions to clients. With over US$1.3 trillion in assets under management (the Asset Management client funds of J.P. Morgan Chase & Co. as at 31 March 2011) and offices in 41 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.
Commitment to Hong Kong
JPMAM's investment management business in Asia has remained headquartered in Hong Kong for more than three decades and today has over 500 employees based in this location. JPMAM and its investment arm - JF Asset Management - are one of the largest local investment managers in Hong Kong with over US$72 billion (31 December 2011) of funds managed across the Asia Pacific region.
As part of a major global investment group, we are committed to providing specialist teams with the resources needed to deliver successful products and performance to our clients. The Hong Kong-based Pacific Regional Group, together with the local presence of the Global Portfolios Group, Global Multi Asset Group and Global Fixed Income Groups, forms the core of JPMAM’s investment management operations. In addition to the knowledge and experience of our individual investment professionals, the stability of the team has enabled JPMAM to develop strong relationships with local clients.