(Please note the Fantasy Fund Manager challenge has now closed)
Hello everyone! Now it’s come to my attention that the Daily Telegraph is running a fantasy fund manager competition right now. Not only can you win cash, but this is an absolutely fantastic way to learn about the markets, companies and investing if you’re a novice (without risking a penny).
So I’m suggesting a little challenge where we sign up, follow each other and see how we get on!
My story – A Fantasy Fund Manager Game set off my interest in finance…..
When I was a bored teenager, I noticed Microsoft were advertising their â€˜million dollar money challenge’ where you picked a portfolio of stocks and the highest performer won a million dollars. Now given I had little idea about money I still have no real idea why I clicked on it but I entered….
I picked my selection of stocks pretty much at random, simply going for names that I’d heard of. Purely by chance, I actually did pretty well and this set off the interest – what was actually driving these stocks in practice, and how could you pick more accurately?
Alas, I did pretty well but did not win a million dollars. However I did learn a lot and it set me off on a career path towards finance. I think it’s a great thing to try it.
What do I need to do?
To enter you’ll need to build a fantasy portfolio using a virtual £100k, featuring at least 5 stocks from the FTSE 350 (the biggest 350 companies on the UK market). You can allocate your £100k in any way you choose – so you could put £10k in one company, £30k in another etc. There’s also a button simply to select your stocks at random if you prefer.
The competition starts on July 6, and ends on the 2nd October.
You’ll then need to pick a fund name and register for a Telegraph account if you don’t have one already.
You can also follow people in game – so one you’re set up follow “The Financial Wilderness Fund” and we’ll get a league table going.
What can I win?
There’s a weekly prize up for grabs of £100 for the best performing fund of the week, plus a £20,000 prize for the best performing fund overall up until the 2nd October.
Am I investing real money?
No, the competition is completely free to enter and you’re not investing any real cash.
Let me know in the comments below if you’re playing along and how you’re getting on! If you’re a novice investor and you have questions, let me know and I’ll be happy to respond publicly or privately as your preference.
Fancy trying the real thing?
If this has set off an interest for you as well, you may be interested in the Starting to Invest series of articles on the site. I cover a few topics including:
- Why I believe investing is a good thing and pays off
- Different types of investment you can consider
- How to understand your investment risk profile