Two teams from Colyton Grammar School, a state selective secondary school in Devon, have come top in the national Student Investor Challenge competition, beating 9,369 teams from schools around the country.
This is the first time that a school has had two teams in the final and taken the top two spots. The winning team from the school – RIJJED, comprising Year 10 students – is the youngest ever team to win the overall competition.
The Student Investor Challenge, which is run by financial education body The London Institute of Banking & Finance, seeks to engage young people with the world of finance through a trading game. The competition runs from October to May each year.
The winning teams from Colyton Grammar School were: 1st – RIJJED, a team of boys from Year 10; 2nd – The Default Skins, a team of boys from Year 13. Team members from RIJJED have won an all-expenses paid trip to New York where they will be interviewed by CNBC, will ring the bell to open trading on the New York Stock Exchange, and have their picture on the big HSBC screen in Times Square.
Jonathan Shields, Head of Economics at Colyton Grammar School said: “Both Colyton teams took this competition very seriously and wowed me with their research and hard work in seeking out value in shares. Thankfully, the market agreed with them and both of their portfolios soared.
“Then in the national final, they both delivered a master class in personal financial awareness that belied their youth.”
Tim Harris, Head Teacher at Colyton Grammar School, added: “We are immensely proud of our students’ achievements, and our congratulations go to them and to Mr Shields for this outstanding result. For a state school to gain the top two spots in a national competition which has traditionally been dominated by schools from the independent sector is truly commendable.”
Alison Pask, Managing Director, Financial Capability & Community Outreach, of The London Institute of Banking & Finance, commented: “We run this competition to reach out to young people from different communities and engage them with the world of finance. Children need to know how the finance sector works, the impact it has on their lives now and in the future, and how to manage money well. We also want to help young people understand that a career in finance can be ‘for them’ regardless of their background. That’s why we run this competition and provide financial education in schools around the country.
“Colyton Grammar School should be very proud of their achievement: two teams in the final, coming first and second is unheard of, and the winning team – RIJJED – is the youngest team ever to win the Student Investor Challenge. Impressive!”