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UFS students excel in the JSE Investment Challenge

23 October 2023 | Story SAMKELO FETILE | Photo SAMKELO FETILE

Third year students: Sipho Majenge, Thapelo Tinte, Dr Edson Vengesai, Busisiwe Nhlapo and Tsolofelo Zwane.

The University of the Free State (UFS), Department of Economics and Finance in the Faculty of Economic and Management Science, has recently made headlines by achieving remarkable success in the prestigious JSE Investment Challenge competition. The 3rd-year group secured an impressive second position, while the Honours group claimed an outstanding third place. These achievements are truly commendable, given the fierce competition and rigorous evaluation of financial acumen that characterises this national competition.

The 3rd-year group, consisting of Thapelo Tinte, Sipho Majenge, Busisiwe Nhlapo and Tsolofelo Zwane, showcased their financial prowess by excelling in trading futures, a complex financial instrument that demands in-depth knowledge and expertise. On the other hand, the Honours group, comprised of Dawie Bekker, Divan Koch, Keith Tarr, and William Oosthuysen, dedicated their efforts to the stock market. These talented individuals took on the trading aspect of the competition, meticulously constructing and managing their portfolios.

The significance of the JSE Investment Challenge

The JSE Investment Challenge, organised by the Johannesburg Stock Exchange (JSE), is a prestigious national competition designed to introduce students to investment fundamentals, offering practical experience that equips them with the knowledge and skills necessary for informed decision-making in real financial markets. This educational stock trading programme also champions financial inclusion and equality by welcoming students from all fields of study. Distinguished by its association with the JSE, one of Africa's leading stock exchanges, the competition exudes credibility and prestige. Participation from universities across South Africa further enhances its national appeal. Moreover, it imparts invaluable real-world financial skills and knowledge, highlighting the participants’ ability to navigate the complexities of the stock market and effectively manage portfolios.

A test of financial prowess

In the challenge, each participating team is allocated R1 million in virtual money and is tasked with constructing a portfolio by purchasing securities on the JSE. This portfolio is closely monitored over six months, from March to September, with the team that generates the highest return across all universities declared as the winner. The rewards are enticing, with the top team receiving R30,000 and an all-expenses-covered international trip. The second and third-placed teams receive R20,000 and R10,000, respectively.

Dr Edson Vengesai plays a pivotal role as the guiding force behind the JSE Investment Challenge in the Department of Economics and Finance. He emphasises, “The success of the students in the JSE Investment Challenge reflects the institution's commitment to providing practical and relevant education. It demonstrates that the students are not only learning theory but also how to apply that knowledge in real-world scenarios. This achievement enhances the institution's reputation, particularly in the fields of finance and economics. It signifies a high-quality curriculum and a dedication to excellence in education”.

For more information about the competition, interested individuals can contact Dr Vengesai through the Department of Economics and Finance in the Faculty of Economic and Management Sciences or via email at vengesaie@ufs.ac.za.

Dawie Bekker, William Oosthuysen, Dr Edson Vengesai, Divan Koch and Keith Tarr

Honours students: Dawie Bekker, William Oosthuysen, Dr Edson Vengesai, Divan Koch and Keith Tarr.

News Archive

UFS alumnus receives PhD in Statistics from the University of Oxford

2016-06-03

In May of this year, DW Bester obtained
a DPhil in Statistics at the University of
Oxford.
Photo: Supplied

On 14 May this year, Dr DW Bester received a DPhil in Statistics from the University of Oxford. The entire ceremony, which was held in the Sheldonian Theatre in Oxford, was conducted in Latin, as has been the case for the past 800 years.

Dr Bester completed his undergraduate studies and his honours degree at the University of the Free State (UFS). “At first, I was only planning to study for a master’s degree, but was privileged to get an opportunity to do a PhD as well. I didn’t think twice!” he says.

Studies at the University of Oxford

Universities in England do not require a master’s degree for PhD studies. With the help of Prof Max Finkelstein from the UFS Department of Mathematical Statistics and Actuarial Science, Dr Bester registered for the DPhil programme in Statistics directly after his honours studies.

“The title of my thesis was: Joint survival models: A Bayesian investigation of longitudinal volatility. It dealt with a problem in the medical field to determine the cause of stroke risk: is it the absolute level of blood pressure, or the volatility thereof? The analysis of this question led to interesting models which needed advanced application techniques. I had to study these techniques and write programmes for their application.

Although Dr Bester is working currently as the technical head of a company that calculates insurance for power stations, satellites, rockets, and cyber risks, he would like to continue working with his Oxford supervisor in future to make the techniques they have developed more accessible for researchers outside of the field of statistics.

“Studying at Oxford requires hard work, perseverance, and a lot of luck. Luck plays a big role, since there are no guarantees that hard work will ensure you a spot in one of the top universities.

Regarding his studies at Oxford, Dr Bester thinks back on his exposure to the GNU/Linux operating system, and free software. “I have seen how valuable this is for analyses in practice. I also had the privilege of meeting the father of free software, Richard Stallman,” Dr Bester says.

2011 Rhodes Scholar

He was elected as Rhodes Scholar in 2011. According to Dr Bester, who has been interested in Mathematics since high school, the Rhodes scholarship was something of a fluke. He applied for the Rhodes scholarship on the recommendation of Prof Robert Schall of the Department of Mathematical Statistics and Actuarial Science.

Role of the UFS in his successes

In addition to the continued support from the team of passionate professors and lecturers at the UFS, the actuarial degree at the UFS is fraught with statistics. Emphasis is also placed on Bayesian statistics. This was crucial to his studies at Oxford. According to Dr Bester, this topic is emphasised strongly in the international statistics community.

Dr Bester regards the work done by two of his lecturers, Michael von Maltitz and Sean van der Merwe, among his highlights at the UFS. Since our first year, they have created an atmosphere of camaraderie among the students. “I think this contributed to the success of everybody. They also make an effort to present topics outside of the syllabus regularly,” says Bester.

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