Students from 10 schools, an equal mix of public and private, are being provided with first-hand experience in trading on the Bahamian stock market through participation in the CFAL Junior Investor Program.
CFAL Junior Investor Program has paired CFAL professionals with high school students from Anatol Rodgers High School, Jordan Prince William High School, C.V. Bethel High School, R.M. Bailey High School, Government High School, Nassau Christian Academy, Aquinas College, St. Augustine’s College (SAC), C.I. Gibson High School and Temple Christian High School for its 18th annual competition.
Throughout the year, students will be exposed to a number of topics that will enhance their learning of the financial markets and money management in general. Topics covered in the program include budgeting, savings, investing and the Securities Commission of The Bahamas – topics they said would ensure students have a variety of information and tools they could use to manage money effectively.
Richard Pinder, program coordinator, spoke to the students about the various types of securities and investments available for them to invest in. He also spoke to them on the importance of managing their money and how they can improve their financial health.
“We look forward to a successful year in the program as the schools participate in the events during the year,” said Pinder.
“The excitement of the students and teachers alike continues to indicate the importance and value of the program in the school system. CFAL is pleased to provide the opportunity of financial literacy to these great minds of tomorrow. Based upon the anticipation and eagerness of the participants, we look forward to a great year as we endeavor to ensure our young people are given every chance to be productive citizens and realize their future career and financial goals.”
SAC will be looking to continuing its winningest streak in the program’s history after winning its third consecutive title last year for the program which focuses on educating future leaders on the importance of financial literacy and saving.
Each school is given a hypothetical $100,000 investment portfolio to manage; they have six months to invest in the market via trading on the exchange. Students make decisions as a group and invest in the local market. The winner of the program is determined by the school that has the highest return for their portfolio while maintaining a balanced investment strategy.
Last year, SAC’s team ended the program with $124,907.89 for the win and a $3,000 first place prize. The second-place team takes home $2,000; with the third-place team taking home $1,000.
Behind SAC, St. Paul’s Methodist College’s team, which does not have a team in the program this year, was the only other team in the history of the competition to record multiple wins, victorious in 2014 and 2016.
CFAL officials have said the experience is always an exciting one for students as the hands-on approach allows them to further understand how important financial literacy and money management is to their future as a life skill, as well as how the stock market operates.