Moomoo Trading Platform and SUSS Investment Group Accelerate Youth Financial Literacy with Inaugural Investment Competition
- SUSS Investment Group has partnered with moomoo on the 2022 Portfolio Management Challenge, which saw undergraduate students demonstrate their investing prowess.
- Participants won attractive cash prizes of up to $5,000 while gaining valuable insights from industry experts and working with real-time data on the moomoo application.
- The judging panel included representatives from UOB Asset Management, the CFA Society and FSSA Investment Managers.
SINGAPORE, April 11, 2022 /PRNewswire/ — Popular and Fast-Growing Financial Trading Platform moomoo in partnership with SUSS Investment Group, a student-led community University of Singapore of Social Sciences which is aimed at students with a keen interest in finance and investment, to launch the first Portfolio Management Challenge 2022.
The competition, which ended on April 9, 2022saw students showcase their analytical and portfolio management skills, while gaining insights from renowned business partners and investment professionals.
The competition kicks off on January 22, 2022the Portfolio Management Challenge was open to all university students Singapore. Teams composed of a maximum of 4 members each received a competition package to facilitate their participation on the moomoo platform, where they executed trades on the US market (Nasdaq and NYSE), and updated their portfolio weighting on Moomoo’s Portfolio feature to view live leaderboards.
The Challenge tested investment knowledge and portfolio construction where challengers implemented and monitored the constructed portfolio, with real-time market data, over a 2-month holding period. The winners were announced on April 9 and emerging at the top was the Gamestopped group consisting Samay Panwar, Yakun Shao and Marcus Foo whose portfolio saw them overcome real-time challenges and devise creative solutions to deal with a volatile market during the 2-month holding period. “The most useful part of using the moomoo app was the news and community sections for each stock where we could follow company news and investor commentary, which was important in helping us to analyze the actions undertaken by company” Yakun Shaomember of the Gamestopped winning team commented.
Joining the judging panel was the CEO of UOB Asset Management, Mr. Thio Boon KiatBoard member of the CFA Society, Ms. Connie Ongand Director at FSSA Investment Managers, Mr. Vinay Agarwal, among others. Mr. Gavin ChiaManaging Director of Futu Singapore was also present as part of the esteemed panel where he offered his insights and expertise to the undergraduate students in the final pitch stage.
“The group of investors on moomoo — which includes more than 70% of Millennials and Gen Z between the ages of 18 and 41 — are eager to learn more about the investment landscape and the opportunities that arise from it. » Mr. Gavin ChiaManaging Director, Futu Singapore commented. “The close collaboration with SUSS Investment Group is paramount to cultivating the interest of the next generation of investors in embracing smart and responsible investing. The competition will help us facilitate broader access to financial literacy through real-time data and peer group interactions.
Futu Singapore continues to support financial literacy among young people and is committed to promoting investor education through its partnerships with local universities that inspire and empower investors with hands-on learning on their journey to financial independence. Futu Singapore also brings its vision of financial literacy to life through courses, webinars and live streams of listed company events related to investing in the moomoo app. In the fourth quarter, more than 300 investing videos and infographic courses were launched on the moomoo app and website that cover stocks, options, funds and other financial instruments.
About Futu Singapore Pte. ltd.
Futu Singapore Pte. (Futu SG) is a wholly owned subsidiary of Futu Holdings Limited (NASDAQ: FUTU), which is an advanced financial technology company transforming the investment experience by offering a digitized brokerage and wealth management platform. Futu enhances user experience with market data, news and powerful analytics tools. Futu also integrates social media tools to provide connectivity to all users, investors, companies, analysts, media and key opinion leaders.
In Singapore, Futu Singapore Pte. ltd. (www.futusg.com) offers investment products to be traded through the moomoo platform, and holds a capital markets services license regulated by the Monetary Authority of Singapore (License number CMS101000).
About SUSS Investment Group
Created in 2017, SUSS Investment Group is the only community in University of Singapore of social sciences which is aimed at students with a keen interest in finance and investment. The group is a student-led platform aimed at imparting financial and investment knowledge and providing professional development opportunities.
Source: Moomoo Inc.