|Palo Seco Sec comes out on top |
Sunday, January 31 2016
PALO Seco Secondary School emerged victorious in the 2015 edition of the Schools Investment Game (SIG) hosted by the Trinidad and Tobago Unit Trust Corporation (UTC), walking away with the lion’s share of prizes.
The southern champions won first, second and third prizes, only the second time in the 26-year history of the game that a school bagged the top three positions. Holy Name Convent, Portof- Spain, copped the fourth place.
2015 was another successful year for the UTC’s School Investment Game with $90, 000 being awarded in prizes and the opportunity to intern at the Corporation during the July/August vacation.
The excitement and exuberance during the respective prize-giving functions was only matched by the unbridled joy and anticipation of securing the top spots.
The investment game starts with the allocation of a notional sum of $100,000.
Teams adopt appropriate investment strategies to construct a portfolio comprising financial securities offered by the Unit Trust Corporation, shares of companies listed on the domestic stock exchange and the shares of companies traded on the New York Stock Exchange and the NASDAQ. At the end of competition, the team with the highest Portfolio Value is adjudged the winner.
First launched in 1991, the Schools’ Investment Game (SIG), provides not only an opportunity for understanding risk and return, it gives an insight into the skills needed for effective financial management, fiscal discipline and patience.
Ian Chinapoo, Executive Director of UTC said the SIG was all about giving back to the community. “SIG is pivotal to the UTC’s social investment programme in that it gives us the opportunity to have a meaningful and positive impact on these budding scholars. Having a channel to shape their lives gives us every reason to celebrate their achievements.” He added, “We continue to see ourselves as partners for life and the game is a tangible way to build a foundation for wealth management and instill in the students, the nuts and bolts of financial literacy.” Chinapoo attests to the impact of the SIG game on the lives of the students. “For us, planting the seed of financial literacy is pivotal to the students’ development.
It is something that they will take with them and apply to their lives.” The 2015 game, played by 75 secondary schools throughout the country in an online format, ran from September 21 – November 13, 2015, a period of eight weeks. Each participating school was allowed to enter a maximum of five teams consisting of three to five students. A total of $38,000 worth of electronic items and $31,000 in Gift of Units were also awarded to both teachers and members of the winning Palo Seco teams.
Vivec Ramkissoon, the teacher at Palo Seco Secondary who led the winning teams, described the result as mind-blowing. “I wasn’t expecting to be placed, much less attain the top three places,” he said at the prize-giving ceremony.