JSE Investment Challenge
011 520 7344 / 7129
All trading activity in the JSE Investment Challenge including, but not limited to transactions, positions and other information is virtual, fictitious and non-binding.
Investment portfolios: Income, Equity, Speculator, and ETF/ETN. Teams are allowed to play more than one portfolio, provided they pay for the registration fee of each portfolio.
Once purchased, a security must be held for a minimum of one full trading day before it may be sold. The disposal price will be reflected as the end of day closing price on the date the transaction is affected.
Brokerage fees will be levied as follows: Brokerage charged on a buy and sell will be 1% of the value of securities traded, however there is a minimum brokerage charge of R75 per trade. Securities Transfer Tax (STT) of 0,25% will be levied on all purchase transactions.
A transaction for a trade can only be reversed provided it is before the market closes (17h00) on the day of the trade.
Performance will be measured over a six-month period. All investments will be reduced to a virtual cash equivalent value for calculation purposes. The growth achieved during the month will be used to determine performance.
Teams will only be permitted to purchase or sell securities equivalent to 5% of the actual number of securities traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled. If no securities are traded, the order will be rejected. Trades not executed for any reason at the end of the day for which the trade was requested, will be cancelled.
Interest will be earned on daily cash balances using the daily balance calculated monthly approach. Interest will be credited daily.
During the competition the interest rate will be assumed at 6% per annum or 3% for the duration of the competition.
The following corporate actions are the only recognised corporate actions that we will execute (CD) Cash Dividend, (RI) REIT Distribution, (IT) Interest Payment and (IS) Special Dividends. All other corporate actions that takes place the share will be force sold at the last traded price before the corporate action took place. These distributions will be credited to the portfolio if the equities are held on the Last Day of Trade. Credit will take place on the Last Day of Trade. If distribution of the corporate action takes place after the closing date, such distribution will not be credited to the portfolio. In addition, if the declaration of the corporate action falls outside the challenge start date, such distribution will not be paid. If teams buy or sell shares on Last Trading Date (LDT), the distributions will NOT be credited to the account.
A minimum of 10 transactions are required to be eligible for the annual JSE Investment Challenge prizes. In addition, teams must also have executed a trade each game calendar month for the full six-month period. The “game calendar month” period can be found on the website: https://schools.jse.co.za
Trades placed before market close (17h00) will be completed at the closing price on the day that they are placed. Trades placed after market close will be completed at the closing price on the following trading day.
The FTSE/JSE Top 40 and the FTSE/JSE All Share are subject to change and is updated by the JSE.
Leaners should be part of only one team. In the event that a learner belongs to more than one team he/she and the entire team will be disqualified.
Leaners can only register their names as they appear on their identity documents.
Orders should be placed electronically on the JSE Investment Challenge trading platform: https://schools.jse.co.za.
The JSE reserves the right to change the rules during the JSE Investment Challenge. Rule changes will be communicated via the monthly portfolio statements and on the JSE Investment Challenge website. The JSE may, at its discretion, accept or reject any team’s application to participate in the JSE Investment Challenge or terminate the participation of a team during or after the JSE Investment Challenge, for any reason whatsoever. The interpretation of these rules is within the sole discretion of the JSE and any decision and/or interpretation in this regard is final and no correspondence will be entered into.
If learners discover flaws and/or technical discrepancies in the JSE Investment Challenge these should be reported to the JSE immediately.