Bayes students secure top spot in Europe in Bloomberg Trading Challenge
A team of MSc Investment Management students at Bayes Business School (formerly Cass) have secured first place in Europe in the annual Bloomberg Global Trading Challenge, also finishing runners-up globally.
The annual competition gives students a practical, real-world trading experience to build on classroom theory. Teams from institutions around the world start the challenge with a virtual $1 million to invest in stocks from the Bloomberg World Large, Mid & Small Cap Price Return (WLS) Index across a six-week period, and are then tasked with achieving the highest possible relative profit and loss (P&L).
This year saw a record number of entrants, including 2,007 teams from 309 universities in 38 countries. 65 teams from Bayes entered the competition, with as many as five making up the top eight teams in the final ranking for Europe.
Shrenik Jain, Riya Gupta and Yatish Batra, who formed ‘The Wizards of Wall Street’, returned a relative profit of $361,735 along with an impressive portfolio return of 41.66 per cent to claim the regional title.
Having traded for three years, team captain Shrenik said deciding to participate in the competition was an easy decision.
“When I heard about the challenge my interest was instantly piqued,” he said.
“I decided to enter because trading is my passion. I've been trading and developing my proprietary strategy for more than three years and am grateful to have had a platform to represent the knowledge I have acquired.
“I really enjoyed the technical side to tasks, including analysing and decoding charts. It was also very fun going to the Bloomberg terminal at Bunhill Row almost every night with my teammates to discuss markets, stocks, and upcoming events.”
The one-year MSc Investment Management course at Bayes equips graduates for a career in asset management, wealth management, hedge fund management, investment and private equity. The course is accredited by the Chartered Insurance Institute (CII) and the Chartered Financial Analysts (CFA) Institute Partner Programme.
Recent graduates have entered careers as analysts, associates, traders and advisers in investment banks, financial services organisations and professional services firms.
Shrenik added that the degree would help him fulfil ambitions of a career in investing.
“After graduation, I hope to work in an asset management company or hedge fund to further refine my abilities, with the ultimate objective of establishing my own hedge fund,” he added.
“My MSc Investment Management degree along with the experience I’ve picked up from this success will certainly give me the confidence to take these next steps. This achievement is something I will always be proud of.”
Riya was equally delighted with the team’s success, saying the mix of skills demonstrated would complement her degree.
“The accomplishment ignited a sense of validation for my hard work and dedication, fuelling my passion even further,” she said.
“It has instilled a profound sense of confidence in my abilities and affirmed my belief in pushing boundaries to achieve success.
“The competition demanded ensuring a balance between on-campus classes and coursework submissions with synchronisation to different time zones corresponding to various financial markets such as India and the United States.
“It has enhanced my understanding of key areas of trading and project management, along with practical knowledge that will help me in my personal development.
“Engaging with the Bloomberg Terminal and virtual trading provided valuable insights that, along with my degree at Bayes, have given me a clearer understanding of my future ambitions. This includes an eagerness to leverage my analytical skills to specialise in portfolio management, equity valuation, corporate finance and managing investments, towards offering tailored financial guidance to retail and corporate clients.”
Yatish echoed this, saying the experience of the challenge had greatly diversified his soft skills.
“The competition delved into the dynamics of stock markets, currency markets, interest rate markets, economics, politics, as well as the influence of news and rumours on portfolio performance,” he said.
“To succeed we not only needed to showcase proficiency in trading and navigating complex financial scenarios, but also a great deal of discipline, organisation and project management skills to juggle degree work with live scenarios. It is wonderful that countless hours invested in research, analysis, and decision-making throughout the challenge have paid off.
“As an aspiring investment banker, I am motivated by the opportunity to play a pivotal role in financial markets after graduation – including handling deals, providing expert financial advisory services to clients, guiding them through mergers and acquisitions and capital-raising initiatives.
“Ultimately, I see myself as a trusted partner, dedicated to helping clients achieve their strategic and financial objectives in a dynamic and ever-evolving global economy.”
Oliver Manyemba, Lecturer in Actuarial Science and trading advisor to Bayes teams in the competition said Shrenik, Riya and Yatish’s achievements were remarkable in such a strong field.
“The Bloomberg Global Trading Challenge tests students’ abilities to interpret huge amounts of data and make accurate forecasts in real time,” Dr Manyemba said.
“Success depends on great organisation, teamwork, a calmness under pressure and a dedication to market analysis – skills that Shrenik, Riya, Yatish and indeed all our teams have once again shown.
“To stand out among nearly 10,500 participating individuals shows the calibre of trading expertise we have at Bayes. This is aided by world-class facilities like the Bloomberg Terminal, where students can enjoy unrivalled access to real-time and historic pricing for more than five million securities, that truly enhances the student trading and learning experience.”
Find out more about the MSc Investment Management course at Bayes.
Read more about the banking and trading facilities available to students at Bunhill Row campus.
