This semester, 202 Fortians from years 7-12 participated in the ASX Competition. This competition encourages students to learn about finance, business and economics by investing $50,000 of pretend money into the sharemarket and trading shares over a two month period.
Congratulations to Jason Dinh of Year 10 who achieved the fourth highest result across Australia, and the third highest profit of students from NSW! He finished only just out of the monetary prizes for the competition. Jason finished his trading with a portfolio worth a whopping $108,003 – more than doubling his portfolio over just two months! Amazing work Jason!
Jason did a lot of trading in the first two weeks of the competition, and then held his positions for the rest of the competition. His biggest shareholdings were Afterpay, Kogan and Westgold, which all benefited from the economic conditions resulting from the COVID-19 pandemic.
Atul Kolla of Year 7 was the second highest profit maker at Fort St, and came 10th in NSW. He finished the competition with a portfolio worth $91,565, an exceptionally impressive result for a Year 7 student. Atul used a buy and hold strategy, and invested in Afterpay, Wisetech Global, Flexigroup and Flight Centre.
Namsemi Limbu of Year 11 achieved third place at Fort St with a portfolio worth $85,709. Namsemi was a frequent trader in the competition. His big shareholdings were in Ive group, Ardent Leisure, Ooh media (all in the media and entertainment industries) and Mesoplast, a pharmaceutical company.
The conditions that were faced in the game this semester were very challenging, with unprecedented falls in the marked due to pandemic fears, followed by a faster than anticipated recovery. The ASX All Ordinaries Index rose by 5% over the game, making the 100% gains by our top students even more impressive! The best performing sector was energy up 34% and utilities up 26%. The worst performing sector was industrials down 7%. The top stock was Mesoblast up 148% followed by Kogan up 126%. 72% of syndicates across Australia finished in profit with the average portfolio value being $53,541.
All participating students should be congratulated for their participation in this competition. Fortians are encouraged to register in the Semester 2 competition next term.