BBA team is 1st Runner-up in inter-varsity financial planning competition

Professor Simon Ho, Dean of Business (back row left) and Professor Gordon Tang of Finance & Decision Sciences (back row right) congratulate the winning team

The School of Business team won the 1st Runner-up award (University Group) at the MPFA & IFPHK Financial Planning Competition for Secondary Schools & Universities. The competition was organised by the Education and Manpower Bureau, the Mandatory Provident Fund Schemes Authority, the Institute of Financial Planners of Hong Kong, the Committee on Home-School Co-operation, the Hong Kong Economic Times and ET Business College.

Contestants in the University Group were required to make a complete analysis of a family's current financial position and future financial needs based on a given case study and design an appropriate investment and retirement plan that best suited the family. Finalists were required to give an oral presentation on their financial plan.

Competing against 108 teams from nine local institutions, the HKBU team, called "GOAL", comprised five Year 3 students of the Finance & Decision Sciences Department: Ken Chan, Paul Ho, Andy Ng, Toby Wan and Amy Sze.

The team created a financial plan for the family covering money management, investment goals, insurance as well as retirement planning. This comprehensive plan, together with the team's impressive presentation skills, earned the award.

Team leader Andy Ng said: "We have made a great effort and learnt a lot from this competition. We built up trust within the team and gained a great deal of satisfaction. We feel very proud to have demonstrated good team work and a strong team spirit throughout the competition."

Andy expressed his gratitude to the team coach, Dr. Billy Mak, for his guidance and valuable advice, and thanked the team's classmates and faculty members for their support.

The competition enhances students' understanding of the Mandatory Provident Fund System, investment and the concept of financial planning. Contestants can gain a better understanding of the benefits and importance of life-long financial and retirement planning.