A group of enterprising students from The College of Law Manchester have been recognised by the region’s leading financiers after making a record virtual profit of £10,607 in a share race challenge.
In just six months, 36 Graduate Diploma in Law students across five teams each invested £100,000 of virtual cash into FTSE 100 companies on a dummy trading platform.
Winning team members, James Elliot, Peter Dunham, Charlotte Oliver, Stephanie Clark, Jazmine Ross and Poppy Ball, were rewarded for boosting their investment pot by 10.61% or just over £10,000 by carefully choosing a combination of shares they felt would give them the greatest short term gains.
Members of the winning Team Gamma: (L-R) Back row: James Elliot, Jazmine Ross and Stephanie Clark. Front row: Peter Dunham and Poppy Ball
An investment discipline award was also presented to a second team: Chris Lee, Annabel Gibson, Natalie Crouchley, Joshua Nock, Rachel Goulding and Sophie Symons for their professional presentation and reporting procedures.
Launched in 2011 by Cheshire-based Xentum Wealth Management, The College of Law Manchester and investment management company Quilter, the share race aims to give students a realistic insight into the financial markets and the factors which influence share values and investment decisions. The share race received a further boost this year by the welcome addition of DWF solicitors to the team of sponsors.
Lecturer Kate Baldwin from The College of Law said: “The share race encourages students to be commercially minded, a skill which will equip them well in the workplace. In fact, we’ve been so impressed by the students’ performance and development we’re looking to roll out the share race as an employability module in our new and innovative, professionally-focused undergraduate law degree which launches this September.”
Yvette Howard, Senior Private Client Solicitor at DWF said “The insights gained into the workings of financial markets and the understanding of how the current economic environment is affecting businesses and UK PLC will be a significant asset to the students and to their future employers when they commence their legal careers. The students’ enthusiastic approach to the share race, given the unfamiliar subject area, really has been exceptional”
Private Client Manager, Adam Carolan at Xentum, said: “Many of the students have really gained an interest in the way companies and stock markets work. The professionalism shown has been impressive and I hope this experience helps them in their quest to become budding lawyers."
Investment Manager, Richard Sneideris at Quilter, said: “I have been impressed with the attitude adopted by the students who have shown a desire to learn not only about trading shares, but also in their progression to understand what can drive share prices including the overall conditions that can affect particular sectors of the market. The students now have a much better understanding of the potential risks and rewards of equity investment in the wider context, which we hope will be beneficial for them in the future both personally and professionally."
The winning teams were presented with their prize tickets for the Midsummer Meeting at Chester Races taking place on Saturday, June 30.
Further information from Lucy Wray, Press Officer, The College of Law on 01483 216072 (firstname.lastname@example.org)