Teen investment club opens up mysteries of finance

(CNS): Another group of students will be embarking on a journey into the mysteries of finance and investment over the coming months after some 70 students signed up for the return the Saxon Investment Club. The young would be investors will be formed into small teams within their school’s club to develop and maintain a virtual portfolio by picking stocks in accordance with the current market. This in turn will require them to research the companies that they have chosen for their group’s portfolio. As well as competing for monthly performance prizes, the group with the highest-earning portfolio by March 15th, 2011 will win a $2,500 cash prize, and the runner up team will receive $500.

The official launch of the programme was hosted last month at the UCCI campus after year 10 and 11 students island-wide were encouraged to start a chapter of the Saxon Investment Club at their schools. Organisers at Saxon said the club offers invaluable insight about investing in a hands-on environment. Following the success of the last six-month installment which came to a close in CEO of Saxon Brian Williams said that his team is excited to embark on this journey again with eager young students.

Representation returned from John Gray High School, Cayman Prep & High School and St. Ignatius Catholic School for the second installment of the Saxon Investment Club, as well as Triple C School also signing on for the challenge. St Ignatius’ Five Star team was the grand prize winner of the previous contest.

“The level of enthusiasm that the students demonstrated the first time was truly rewarding for us,” Williams said. “Saxon is committed to investing in our youth for we recognize that there is no better investment in Cayman’s future than instilling young minds with knowledge and wisdom. While this club certainly evokes a healthy level of competition, the most valuable reward is certainly the insight gained from the hands-on experience.”

He explained that through the careful planning of each group’s portfolio, the students will gain knowledge about sound financial investing and money management. “Saxon also hopes that introducing students to these disciplines at such a young age might spark an interest in a future career in one of the financial industries,” he added.