The University Fantasy Fund Manager 2010 launched in Hong Kong
Nov 09, 2010
J.P. Morgan Asset Management announced the launch of the University Fantasy Fund Manager 2010.
Hong Kong, 9 November 2010: J.P. Morgan Asset Management (JPMAM) today announced the launch of the University Fantasy Fund Manager 2010 (UFFM). Following the success of the UFFM in 2009 when three universities participated, this year the competition has been extended to welcome students from all disciplines studying in nine local universities*. Winners will be invited to attend an exclusive Fund Manager Sharing Session, where an award-winning fund manager will share his valuable investment experience and insights. In addition, one of the students from the Group Challenge will have the opportunity of a summer internship with J.P. Morgan Asset Management in 2011.
First launched in 2009, the UFFM is an educational competition founded and solely sponsored by JPMAM to provide university students in Hong Kong with an opportunity to gain realistic investment experience in global fund investing and portfolio management. The UFFM 2010, jointly organized by nine universities in Hong Kong, consists of an Individual Challenge and a Group Challenge. About 400 students have signed up for the UFFM Individual Challenge and 53 teams of 4-5 students each have registered to compete in the UFFM Group Challenge. The competition has attracted students not only from business faculties but also those majoring in the arts and sciences.
Speaking at the University Fantasy Fund Manager 2010 opening ceremony today, Mr Terry Pan, Head of Hong Kong Business at J.P. Morgan Asset Management, said, “We are very excited to see such an encouraging response from the students and the tremendous support from local universities. It is our belief that the UFFM, combining investment education and competition, will enable the younger generation to become more financially literate.”
JPM Investment Academy, established by J.P. Morgan Asset Management, will run a UFFM series specifically for students to provide them with investment education courses to better prepare them for the competition. These will comprise basic knowledge of fund investing, portfolio management and market analysis. The courses will include: 1) Behavourial Finance – why buy high, sell low again? and 2) Do hedge funds really hedge? and will be run on the university campuses. Participants who successfully attend all courses will receive a Certificate of Attendance from J.P. Morgan Asset Management.
In the Individual Challenge, a participant is granted USD1 million in ‘virtual money’ to construct and invest in a portfolio of funds managed by J.P. Morgan Asset Management in Hong Kong. The performance of the participants will be judged according to the actual performance of J.P. Morgan funds for the period 30 November 2010 to 29 April 2011. The participant with the highest portfolio return during this period will win the competition. The best performer, 1st runner-up and 2nd runner-up will be awarded HKD3,000, HKD2,000 and HKD1,000 respectively for fund investment into a new account to be set-up with J.P. Morgan Asset Management.
The Group Challenge is a team-based, simulated portfolio-building competition. Participants are required to register in 4-5 member teams. The teams are then given a scenario where they have to develop a tailor-made investment proposal to give portfolio recommendations that meet the return expectations and risk appetite of the ‘virtual client.’ An Investment Discussion Forum will also be organized, where investment specialists from JPMAM will share investment insights with the participating teams and address questions from team members. The shortlisted teams will then present to a panel of judges and their investment proposals will be evaluated based on structure, technicality, suitability and presentation. The best-performing team, 1st runner-up and 2nd runner-up will be awarded HKD20,000, HKD10,000 and HKD5,000 respectively for fund investment into a new account to be set-up with J.P. Morgan Asset Management.
All winners will receive a Certificate of Merit awarded by J.P. Morgan Asset Management and will be invited to attend an exclusive Fund Manager Sharing Session, where an award-winning fund manager will share his valuable investment experience and insights. In addition, one of the students from the Group Challenge will have the opportunity of a summer internship with J.P. Morgan Asset Management in 2011.
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*Participating universities: City University of Hong Kong, 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.
Harriet Ngan, Internal & Media Communications
Telephone: (852) 2800 2776
Issued by JPMorgan Funds (Asia) Limited
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Notes to Editors
J.P. Morgan Asset Management (“JPMAM”) is the brand name of J.P. Morgan Chase & Co’s asset management companies.
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 30 September 2010) 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 about 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$90 billion (30 September 2010) 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, 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.