May 2024 Update
Welcome to the monthly update of the Ashburton Jersey Schools Investment Challenge, which is now on the home straight.
May saw a rebound in global equity markets following a weak April, as ongoing investor optimism about the economic outlook supported risk assets. Equities returned 4.30% over the month with US growth equities outperforming.
This year has been dominated by strong large cap tech stocks, with Nvidia, in particular, one of the best performers again this year. It remains the most commonly held stock across the student portfolios and therefore has had a large influence on the way teams have performed.
The 25 teams have produced an average return of 21.6% so far this year, compared to the 9% return for global equities this is quite impressive.
ACLLE from Highlands College remains the standout team with a 64.93% return. They have topped the table since the first month, and barring a large market correction, they look odds-on to win. Interesting, their best performer isn’t Nvidia, but a small-cap medical device company, Sensus Healthcare, which is also this year’s best overall performing stock so far.
Competition for the remaining podium places is close with only 3.36% separating the next three teams. Currently in second place is Wealth Warriors from De La Salle College, with an impressive 45.65% return. Followed closely behind by the ironically named, Bankrupt Babes from Beaulieu Convent School. Both teams hold Nvidia.
Beaulieu Convent School dominates the schools’ table with five teams in the top ten. All of whom produced strong returns during May with Blocks achieving the highest return of 23.70% during the month.
While the winner for the schools’ table appears clear, the fight for the remaining individual team positions promises excitement in the final stretch.
To find out more, go to: www.ashburtoninvestments.com/int/investmentchallenge.
