Thursday, October 18, 2007

UCCS students in investment competition

The stakes are a little higher this year for D.A. Davidson & Co.’s annual Student Investment Program — the competition includes a shot at a paid internship.
Two University of Colorado at Colorado Springs College of Business students already have been nominated and will compete with 40 other nominees from 20 colleges for the internships, said Mark Sikorski, vice president and manager of the local Davidson office.
Rachel Ellis, a senior majoring in finance at UCCS, is hoping the internship could give a kick start to plans for a career in investments or banking. The other nominee declined to be identified.
The pair are among 40 UCCS students who manage a $50,000 portfolio loaned by the company for the competition, won last year by a team from University of Oregon with a 29.4 percent return. The UCCS team finished sixth last year with a 19 percent return on its portfolio.
A panel of Davidson executives will interview three to five finalists for the internship in mid-January, and the two winners will be revealed Feb. 11. The company will pay both interns a $1,290 weekly salary for the 12-week program plus $2,500 in a Davidson investment account.
The Montana-based investment brokerage firm has sponsored the contest for 22 years, and UCCS is participating for the fourth consecutive year. Profits earned on the portfolio in excess of 5 percent are donated to the school, which netted UCCS about $4,000 for student programs.

No comments: