Auckland Grammar wins top prize in NZX Stockmarket Challenge

20 August 2004 – New Zealand Exchange Limited (NZX) and ASB Securities are pleased to announce the winners of the 2004 NZX Stockmarket Challenge: Auckland Grammar School.

The winning syndicate, named HMIL, increased their $50,000 virtual share portfolio to $61,208.10 over the 10 week game – a 22.42 per cent increase in value. Their prize is $2000 worth of TENZ, a Smartshares exchange traded fund.

The A Team from Tauhara College in Taupo is this year's runner up with an 18.42 per cent increase in the value of their portfolio, to $59,057.60. They will win $1000 worth of TENZ.

The NZX Stockmarket Challenge, sponsored this year by ASB Securities, is a sharemarket simulation game based on buying and selling shares on NZX's markets. It is designed to give students a practical way to gain sharemarket knowledge and experience.

726 syndicates from 119 schools participated in this year's challenge.

NZX markets development manager, Geoff Brown, said HMIL and The A Team gained their first and second places by using very different investing strategies.

“It's interesting to see from the game's trading records that the Auckland Grammar team conducted few trades over the course of the game. They chose their shares initially then held them, and kept cash on hand to give them flexibility to buy extra shares if necessary,” Brown said.

“In contrast, the team from Tauhara College used a more active trading strategy, buying and selling shares frequently and incurring extra brokerage charges to concentrate on capital gains.”

A prizegiving function will be held at 10am on Wednesday 25 August at ASB Securities, Level 28, ASB Bank Centre, corner Albert & Wellesley Streets, Auckland. There will be interview opportunities with the winning teams at the prizegiving.

Rankings for the 2004 NZX Stockmarket Challenge are available at www.challenge.nzx.com.

Find out about Smartshares at www.smartshares.nzx.com.

For more information, please contact:

Alice Talbot
Corporate Affairs
New Zealand Exchange Limited
04-496-2872