The Department of Economics and Finance at CityU and Veco Invest (Asia) Limited, a Swiss asset management company, are pleased to announce that Mr. Sin Wang Yip (a BBA QFRM major) has won the first prize, and the group comprising Miss Shen Wen Chun and Mr. Yu Zhao Bao (both in the MSc Applied Economics program) has won the second prize in the 2012-13 Veco Invest-CityU Investment Management Competition. Mr. Sin has won a $5,000 cash prize and will be offered a summer internship at Veco Invest. Miss Shen and Mr. Yu won a $3,500 cash prize. The cash prizes are sponsored by Veco Invest.
In this competition that Veco Invest sponsored solely for students at the City University of Hong Kong, student participants began to construct their portfolios in September 2012 with a fictitious initial investment of HKD100 million. They had until March 2013 to demonstrate their fund management skills. The objective of the competition is to provide students with the opportunity to know more about investment portfolio management.
Students were required to submit interim and final reports describing their investment strategy, process and performance. To maintain quality, the Department of Economics and Finance shortlisted two reports for consideration for the award of prizes. To compete for the awards, the shortlisted students were required to present their reports to the panel of judges comprising Mr. Peter Lee, the Managing Director of Veco Invest, and Dr. K.C. Lim, Visiting Associate Professor at CityU. The presentations were held on 22 May 2013 at Veco Invest’s office in Alexandra House, Central, Hong Kong.
Students were judged based on several criteria including participants’ investment strategies, securities and products selection process, consistencies of investment strategies, justifications for buy and sell decisions and investment performance. The judges emphasized that investment performance was not the sole criterion. In the presentations, students discussed the outlook of certain economies at the time of their portfolio construction, selection process of securities, outlook of currencies and commodities, and the firms in their respective portfolios.
The Department appreciates the efforts and time put in by Mr. Peter Lee in providing very useful guidance to the shortlisted students on the investment management process, the importance of consistency in investment style, diversification, portfolio monitoring and portfolio risk management. The Department is very pleased that Veco Invest will again sponsor this competition in the 2013-14 academic year. Students are actively encouraged to participate in this competition next year so that they could understand more about investment management and the fund management industry. Through participation in this competition, students will learn more about ethics, analysis of firms, industry outlook and certain economies, and simulate what fund managers do in their daily jobs.
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