Now in its fifth year, the Growing Future Assets Investment Competition challenges 13-18-year-old schoolgirls in Scotland to become investment whiz kids by identifying and pitching a company with great investment potential.
Teenage girls in Scotland can register for the competition now and are in with a chance to win prizes of up to £1000 for their school and up to £200 in vouchers per student.
Until recently, there were more men named Dave working as UK fund managers than women in total. Today, only 12% of UK fund managers are women. Future Asset aims to close the gender gap in this sector, empowering teenage girls across the country by teaching them the skills they need to consider a career in investment management.
Scotland is the 2nd largest financial hub in the UK after London, yet a poll commissioned by Scottish Financial Enterprise found that almost 60% of 16-24-year-olds were unlikely to consider a career in financial services, while just under a quarter (23%) of people in Scotland do not believe financial services represents an attractive or secure career for young people.
Another study reveals that many women lack confidence around investing, with one quarter stating that they don’t know what to invest in, and 19% saying they don’t know how to invest.
However, there is clear evidence the sector would benefit from eliminating gender disparity. Analysis by Fidelity Investments found that on average women’s holding outperformed men’s annually by 0.40 percentage points.
Spaces in the competition are in high demand both in and outside the central belt. 110 teams competed last year from 30 out of 32 council areas of Scotland. Since inception in 2020, over 1800 students across the country have taken part.
Successful applicants will take part in a “Dragons’ Den” style competition over 10 weeks, which allows them to experience the role of an investment manager.
Competing teams each work with a professional “Competition Coach” – volunteer investment professionals from leading firms such as Martin Currie, Baillie Gifford and Stewart Investors who coach teams online and in person – to learn how to pitch a company with great investment potential.
Jen Mair, Chair of Future Asset and CEO of Martin Currie Investment Management, said: “Careers in finance can be rewarding, creative and lucrative, and we remain committed to eliminating gender disparity in this sector so that anyone can consider working in investment.
“In the last half-decade, it has been inspiring and encouraging to see girls from every corner of the country take advantage of the competition and the resources we have to offer, and we look forward to seeing them enjoy successful careers in the industry It’s clear that diversifying the financial workforce brings many benefits for all, and while there is still much work to be done,
“I believe the future of the investment sector looks very bright.”
Registration for the competition closes on 6 September 2024.
Competition Kick Off workshops take place in August and September in Edinburgh, Glasgow, Dundee and Inverness, and the competition deadline is on Friday 29 November 2024, with winners announced on Friday 07 March.
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