Aberdeen Invests in Philadelphia's Future
PHILADELPHIA, May 24, 2012 /PRNewswire/ -- Aberdeen Asset Management Inc. ("Aberdeen"), the global asset management firm with U.S. headquarters in Philadelphia, has partnered with the Wharton School's Knowledge@Wharton to run an investment competition for Philadelphia high school students.
The investment competition ran for 10 weeks, from March 5 to May 11. On Friday, June 1, students from each participating class will be invited to Aberdeen's U.S. headquarters in Philadelphia to present their investment strategies to Aberdeen portfolio managers. The competition was open to both Philadelphia charter and public schools. Teams will be judged on their investment strategy plans, presentations and investment performance.
"Aberdeen believes that it is important to invest in Philadelphia high school students' financial literacy," says Gary Marshall, the Chief Executive Officer of Aberdeen. "The knowledge that students develop in the competition will not only be applicable to financial decisions, but also to other choices affecting their outlook on savings and investment, like choosing a college."
The investment competition promotes financial literacy through an extensive curriculum that encourages students to think strategically about investments. Students work in teams to design investment strategies and then implement those strategies using the Wharton School's on-line investment simulator.
"I have seen a lot of trading simulation games for high school students that do not promote sound financial decision making," says Scott Stimpfel, Director of Knowledge@Wharton High School's Education Initiatives. "Our competition is not about buying and selling stocks, but instead learning about the fundamentals of investment decision making."
"The investment competition really challenges our students to think critically about their decisions," says Aaron Greberman, IB Business Management teacher at Bodine High School for International Affairs. "Our students have responded to this challenge and have been very engaged in the competition."
Over the course of the competition, Aberdeen representatives met with participating classes, facilitated class activities and discussed their careers. Aberdeen hopes that the competition will enhance Philadelphia students' financial literacy and general career awareness.
"There are a lot of talented high school students in Philadelphia who might not be aware of careers in financial services," says Marshall, "We hope that this competition might inspire some students to think about careers in investment management."
On Friday, June 1, 2012 from 11:30 am – 1:00 pm, top teams from each of the participating schools will present their investment philosophies to the Aberdeen Investment Challenge Board at Aberdeen's Philadelphia headquarters. The top team will be selected by the Board upon the conclusion of all presentations. All invited students will also get the opportunity to speak with Aberdeen investment professionals, tour the office, and enjoy a lunch provided by Aberdeen.
About Aberdeen Asset Management Inc.
Aberdeen Asset Management PLC, the parent company of Aberdeen Asset Management Inc., is an independently‐run asset manager listed on the London Stock Exchange since 1991, and operating from 30 offices in 23 countries (the "Group"). The Group invests on behalf of institutional and wholesale clients, primarily in equities, fixed income, alternative investment strategies and property. The Group manages more than US$270.3 billion of assets for both institutions and private individuals as of December 31, 2011. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
About the Wharton School and Knowledge@Wharton
Knowledge@Wharton is the online business analysis journal of the Wharton School of the University of Pennsylvania. The site, which is free, captures relevant knowledge generated at Wharton and beyond by offering articles and videos based on research, conferences, speakers, books and interviews with faculty and other experts on current business topics. The Knowledge@Wharton network – including Chinese, Spanish, Portuguese, Indian, Arabic and High School editions – has more than two million subscribers worldwide.
SOURCE Aberdeen Asset Management Inc.