About the JSE Investment Challenge

Participants test their share trading skills through an ongoing annual simulated virtual trading programme. Each team is given an imaginary sum of R1 000 000 to invest in JSE-listed companies. Their performance is tracked and measured in a competition against other teams taking part in the Challenge. The top performers win fantastic prizes. The Challenge has been creating interest in the dynamic environment of the stock market for over 50 years.

JSE Limited

The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 135 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management.

For further information, please visit www.jse.co.za.

Information

Payment Details

R100 per Team per Game
Make Payment to: JSE Investment Challenge
A/C Number: 002351064
Reference: Your School and Team name
Bank: Standard Bank, Braamfontein
Branch: 00-48-05
Type: Current

Who can participate

Any South African secondary school may enter one or more teams.
Team members must be in grades 8 - 12 to be eligible to participate (it is recommended that learners in grades 8 and 9 participate in the income game).
A team must consist of four members only.
Each school must have a supervising teacher.

Income Portfolio	Equity Portfolio	Speculator Portfolio	ETF/ETN Portfolio
Teams start playing the game with an opening balance of R700,000 in virtual cash and R300,000 virtual investment in equities.	Teams start with an opening balance of R500,000 in virtual cash and R500,000 virtual investment in equities.	This portfolio has an opening value of R1,000,000 in virtual cash.	Teams start with an opening balance of R500,000 in virtual cash and R500,000 virtual investment in Exchange Traded Products.
Teams may only invest in FTSE/ JSE Top 40 companies	Teams may only invest in companies that are in the FTSE/ JSE All Share Index (+/- 138 companies). No derivatives, warrants or options may be held.	Teams may invest in any shares and/or warrants.	Teams may invest in any Exchange Traded Funds (ETFs) or Exchange Traded Notes (ETNs).
Teams are required to protect capital value on an inflation adjusted basis. Thereafter they will be evaluated on their ability to maximise income from the portfolio. (No consideration will be given to capital growth above the inflationary benchmark percentage of 6% per annum.) Any team that does not protect its capital on an inflation adjusted basis, will not be considered in the awarding of prizes.	No more than 10% of the portfolio value may be held in any one company in the FTSE/JSE Top40. No more than 5% of the portfolio value may be held any other companies outside the FTSE/JSE Top40. Teams will only be permitted to purchase or sell shares 5% in any instrument of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled.	No more than 10% of the portfolio value may be held in any one company in the FTSE/ JSE Top40. No more than 5% of the portfolio value may be held any warrants, exchange traded products or other companies outside the FTSE/ JSE Top40. Teams will only be permitted to purchase or sell shares 5% in any instrument of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled.	No more than 10% of the portfolio value may be held in any one exchange traded product. Teams will only be permitted to purchase or sell shares 5% in any exchange traded product of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled.
Teams are required to keep a minimum of R400,000 in virtual cash.	Teams are required to keep a minimum of R250,000 in virtual cash.	No minimum virtual cash balance required.	No minimum virtual cash balance required.

Income Portfolio	Equity Portfolio
Teams start playing the game with an opening balance of R700,000 in virtual cash and R300,000 virtual investment in equities.	Teams start with an opening balance of R500,000 in virtual cash and R500,000 virtual investment in equities.
Teams may only invest in FTSE/ JSE Top 40 companies	Teams may only invest in companies that are in the FTSE/ JSE All Share Index (+/- 138 companies). No derivatives, warrants or options may be held.
Teams are required to protect capital value on an inflation adjusted basis. Thereafter they will be evaluated on their ability to maximise income from the portfolio. (No consideration will be given to capital growth above the inflationary benchmark percentage of 6% per annum.) Any team that does not protect its capital on an inflation adjusted basis, will not be considered in the awarding of prizes.	No more than 10% of the portfolio value may be held in any one company in the FTSE/JSE Top40. No more than 5% of the portfolio value may be held any other companies outside the FTSE/JSE Top40. Teams will only be permitted to purchase or sell shares 5% in any instrument of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled.
Teams are required to keep a minimum of R400,000 in virtual cash.	Teams are required to keep a minimum of R250,000 in virtual cash.

Speculator Portfolio	ETF/ETN Portfolio
This portfolio has an opening value of R1,000,000 in virtual cash.	Teams start with an opening balance of R500,000 in virtual cash and R500,000 virtual investment in Exchange Traded Products.
Teams may invest in any shares and/or warrants.	Teams may invest in any Exchange Traded Funds (ETFs) or Exchange Traded Notes (ETNs).
No more than 10% of the portfolio value may be held in any one company in the FTSE/ JSE Top40. No more than 5% of the portfolio value may be held any warrants, exchange traded products or other companies outside the FTSE/ JSE Top40. Teams will only be permitted to purchase or sell shares 5% in any instrument of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled.	No more than 10% of the portfolio value may be held in any one exchange traded product. Teams will only be permitted to purchase or sell shares 5% in any exchange traded product of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled.
No minimum virtual cash balance required.	No minimum virtual cash balance required.

Prizes

Each month the best performing teams and schools in each portfolio will win R500 per team member, R500 for the principal and R500 for the supervising teacher. Note that mentors (catalyst teachers) will not be eligible for the monthly prize and only the appointed supervising teacher from the school will be eligible. In addition, teams are only eligible for a maximum of two monthly prizes for the duration of the JSE Investment Challenge.

There are also five overall annual cash prizes per portfolio up for grabs, amounting to R80 000 per portfolio! The prizes are structured as follows:

Place	Team Member	Principal	Teacher
1st	R5 000	R1 000	R5 000
2nd	R4 000	R1 000	R4 000
3rd	R3 000	R1 000	R3 000
4th	R2 000	R1 000	R2 000
5th	R1 500	R1 000	R1 500

Any team or team member will only be eligible for one annual prize. All prizes must be claimed within 30 (thirty) days of being awarded. NB: The JSE’s decision on any and all prizes will be final, and no correspondence will be entered into.