44 students, split in 9 teams, reading for an Honours degree in Banking and Finance at the University of Malta participated in the BOV Investment Education Project. This comprises a virtual portfolio simulation, running between November and June.
The winning team and the two runner-ups teams were presented with their awards by Romeo Cutajar Chief Officer Investment Services and Professor Joseph Falzon, Head of the Department of Banking & Finance and Dean of the Faculty of Economics, Management and Accountancy at the University of Malta during a brief ceremony at the end of the 2nd Annual Banking and Finance Conference, hosted at the old University Campus in Valletta.
Tracing the project to its origins, Romeo Cutajar explained that the portfolio simulation was developed as a collaborative project between the Bank and the Department of Banking and Finance at the University of Malta in 2006. Promoted through the Bank's Community Programme, this project gives students a unique opportunity to acquire a first-hand experience in the world of equity trading in which they will be engaged over a period of eight months.
"The BOV Investment Education project remains a popular appointment for Banking and Finance students in their final year. The virtual environment gives students a unique opportunity to put in practice their theoretical background to manage a portfolio." He also explained that, "This project ties in perfectly with the Bank's firm belief in the importance of hands-on and holistic education, in the financial sphere." Mr Cutajar went on to speak about the Bank's ongoing efforts to promote financial literacy. "Every year, the Bank organises an educational programme targeting the general public, through which BOV employees explain specific financial instruments in a bid to demystify the financial services world."
Thanking Bank of Valletta for its support, Profession Falzon said, "Over the course of several months, participants have access to a simulated trading platform, based on real instruments traded on the local and foreign equity markets. Every team has a virtual sum of €1,000,000 available to invest in listed shares worldwide. They need to devise an investment strategy that generates the best return before ultimately liquidating their portfolio. Teams are judged on their ability to abide to this strategy, the rationale for selecting the stocks, and the profits or losses made."
Students have access to the BOV Virtual Portfolio, a feature of the Bank's internet banking service, to track and monitor their investments and calculate profits and losses on their capital, according to market fluctuations. Thus it is an ideal medium through which students obtain exposure to the realities of the investment world and gain experience in this sector without risking their own capital.
The winning team was composed of Matthew Giusti, Luke Bartolo, Maria Galea Salomone, Charlene Bonello, Jeremy Tua and Caroline Nabbe. Meanwhile, Rachel Meilak and Caroline Nabbe were presented with the First Class Student award in Banking and Finance (Honours) for 2014-2015.