From: Investment Management Club
Date: October 21, 2013
Subject: Orbis Stock Picking Challenge
In addition to the UNC Kenan-Flagler Alpha Challenge and the Ross Investment Competition, the Investment Mangement Club would like to inform you about the Orbis Stock Picking Challenge. For those of you who are unfamiliar with Orbis, the company is a global investment management firm with approximately $25 billion in assets under management. Orbis is looking for non-final year students to manage a virtual portfolio over the year 2014.
Please see the link below for more information and application submission.
http://www.orbisstockpickingchallenge.com/index.aspx
The opportunity
Do you believe that you have the ability to manage a $1bn portfolio for 12 months to beat the market? The Orbis Stock Picking Challenge is your chance to do so, running a paper portfolio with real cash payoffs and proving your investment skill to yourself as well as to an investment group with one of the best track records in the business.
There are no academic background requirements. Previous participants have ranged from first years to doctorates, but successful applicants must be able and keen to dedicate time to independent stock idea research. All applicants must be enrolled at one of the participating universities throughout the full calendar year 2014.
Successful stock pickers will be rewarded depending on performance and may be invited to interview for internships or jobs at Orbis.
Structure
Successful applicants will work independently and in a small team of driven students to assemble and manage an individual and group portfolio of stocks, run on Orbis’ portfolio management system, aiming to outperform the global index. The application is individual and, if you are selected, the vast majority of your stock picking work will be independent. However, successful applicants will also be responsible for judging the attractiveness of other participants' ideas and forming a group portfolio based on the best ideas in the individual portfolios.
You will be expected to select and manage a paper portfolio of stocks over a period of 12 months, beginning around mid-November. The bulk of your time will likely be spent independently screening for promising stock ideas and researching an attractive shortlist, but there will also be regular team meetings to discuss your ideas with others and decide which ideas are most attractive.
Each analyst will be responsible for both managing an individual portfolio, and contributing to and evaluating a group portfolio, which should be a collection of the best individual ideas. The prize pool will be paid out according to a formula that rewards every percentage point of the average outperformance of these two portfolios.
After writing up your rationale, you will be able to invest in any stock worldwide, subject to restrictions on size. In keeping with our purpose of identifying outstanding stock pickers, no other instruments (debt, convertibles, funds, commodities, ETFs) are allowed.
Your portfolio will run on the bespoke internal systems of a fund management group, meaning that you can have confidence that whatever strategy you execute could also be replicated by a real cash portfolio. Your investment universe will be global - you won't be restricted to any one market, or only a handful of large stocks.
Your performance will be benchmarked against a global capitalization-weighted index of stocks.
Training
Orbis will provide a training session on how to analyse stocks prior to the portfolios' launch and additional events throughout the term of the portfolio. The first training session will be held early in the evening of Monday 18 November, 2013.
Like ours, your job will be to pick stocks that beat the market ("the index"). We'll tell you a little about what has worked for us, but it's up to you to figure out how to outperform.
Orbis is on the lookout for exceptional non-final year students from any academic background. Do you have a record of high achievements? Do you have the intellectual courage to think and act independently? If you think you can manage a $1bn virtual portfolio for 12 months to beat the market, then this is your chance to do so.
How do I apply?
Please upload both a CV and a cover letter to support your application. Interviews will be held in early November, near your university. Those selected to participate will need to attend our first OSPC training session, in central London, on Monday 18th November 2013.
When is the deadline?
The deadline for all application submissions is midnight, 28 October, 2013. We will review all applications shortly after the deadline.
Who Can Apply?
Any non-finalist may apply, i.e. students who will be enrolled at university throughout the calendar year 2014. There are no academic background requirements and previous participants have ranged from first year to doctorate students, but successful applicants must be able and keen to dedicate time to independent research.
If you are in your final year of studies, you are unlikely to be present at university for the full 12 month duration of the scheme. We encourage finalists with an interest in fund management who feel that Orbis may be a good fit for them to review the careers section of our website at www.orbis.com. Applications can also be submitted through this area of our website.
Structure
Successful applicants will work independently and in a small team of driven students to assemble and manage an individual and group portfolio of stocks, run on Orbis’ portfolio management system, aiming to outperform the global index.
Successful stock pickers:
Will share in a prize pool of up to £10,000 depending on your performance;
May be invited to interview for internships or jobs at Orbis.
Please see the link below for more information.
http://www.orbisstockpickingchallenge.com/index.aspx