Cash prizes will be awarded to the top three teams: 1st Place (SGD10,000), 2nd Place (SGD5,000), 3rd Place (SGD3,000). The Organisers reserves the right to amend prizes without prior notice.
From the six finalist teams, up to 10 students who meet the Organisers’ criteria may be invited to apply and be interviewed for the Fullerton Singapore Value-Up (FSGV) Internship Programme; eligible students must be Singapore Citizens/Permanent Residents and have an expected graduation year of 2028. Interns will need to fulfill the full 35-week internship period (anticipated to be from May 2026 to December 2026) upon acceptance. The internship also serves as a pathway to potential permanent placement as a research analyst, subject to internship performance.
Overview
The Fullerton / SGX Value-Up Singapore Equities Challenge is a virtual investment competition jointly organised by Fullerton Fund Management Company Ltd. and Singapore Exchange Limited.
Designed to deepen understanding of Singapore’s equity markets and encourage greater participation, the Challenge provides participants with hands-on experience in researching and evaluating Singapore-listed companies, identifying investment opportunities, and constructing and managing a portfolio through a simulated trading environment without the use of real capital
Open to tertiary students and the wider public through dedicated Student and Open categories, the Challenge aims to strengthen investment knowledge, broaden awareness of opportunities in Singapore equities, and encourage greater participation in the local market.
Who can join the Fullerton/SGX Value-Up Singapore Equities Challenge (Students Category)
The challenge is open to tertiary students. Participants must meet all the following criteria:
- Be aged 18 or above.
- Be a Singapore Citizen or Permanent Resident.
- Be enrolled as a full-time student at a polytechnic or university, either in Singapore or overseas.
- Participate as part of a team of four.
How it works
- Form a team of four and complete the registration process.
- The Fullerton / SGX Value-Up Singapore Equities Challenge (Students Category) is an equity investing competition featuring:
- An eight-week online trading simulation where each team will construct and manage a portfolio of Singapore listed securities, selecting from approximately 100 stocks and applying research, discipline, and real-world decision-making to their investment strategy.
- A stock pitch challenge for the top 6 qualifying teams from the online trading simulation, requiring the submission of an equity research report with supporting financial model. There will be an in-person presentation and question-and-answer session to select the winning team.
- Cash prizes will be awarded to the top three teams from the in-person Stock Pitch Final.
- Qualifying students will be considered for the Fullerton Singapore Value-Up Internship Programme. Details of the internship can be found here: Fullerton Singapore Value-Up Internship - Fullerton Fund Management
Please view the full set of T&Cs here: Fullerton / SGX Value-Up Singapore Equities Challenge (Students) - Fullerton Fund Management
No rankings at this moment. Stay tuned.
How To Participate
- Team size: Teams of four (4) individuals. Team sizes that are greater or less than four (4) are not accepted.
- Teams must complete the registration form and provide the team’s InvestSG username (which does not have to be identical to the team name).
- Team name: Select a unique, professional team name that does not infringe the intellectual property and personality rights of third parties and allows for ease of identification. Teams are not permitted to indicate or suggest the identity of their educational institution in the name of the team unless they are able to furnish the Organisers with the prior written consent of their educational institution for such use of its name. A team may be required to change its name if it is deemed to be insufficiently unique or professional.
- Communications: The Team Leader’s email will be used as the primary communications channel between the team and the Organisers. The Team Leader is responsible for the accuracy and validity of all email addresses submitted.
Eligibility for Participation
- The competition is open to Singaporeans and Permanent Residents (aged 18 and above as at 10 December 2025) who are enrolled as full-time students in a polytechnic or university in Singapore. Participants within the same team need not be from the same institution or faculty.
- The immediate family members of the directors, officers and employees of the Organisers are not eligible to participate in the competition. Any student who is interning with the Organisers during the course of the competition is also not eligible to participate in the competition.
- Participants may only be a member of one team.
- Once a team has been registered, there should be no changes in its membership. The Organisers reserve the right to disqualify a team for any unapproved changes to its membership.
Access to Trading Simulation Platform and Confidentiality
- All teams must create an InvestSG account to participate in the paper trading simulation. Each team will share one set of login credentials for the team account and must submit the username in the registration form.
- Participants shall treat all information provided by the Organisers, its partners and platform providers as well as all information received during the course of the competition as confidential and shall not disclose such information to any third party or use it for purposes other than this competition without the prior written consent of the Organisers. Participants shall not record, publish or release any information or material received in connection with the competition without the prior written consent of the Organisers
Qualifying Round — Online Trading Simulation
1. Platform and Scope
All trades must be executed within the InvestSG paper‑trading environment. Rankings and portfolio metrics will be displayed on the platform dashboard; a leaderboard will show current standings.
2. Trading Rules and Constraints
Teams that do not meet the rules and constraints will be disqualified. The Organisers reserves the right to modify the trading rules and constraints at any time, both prior to and during the trading period.
All trades must be executed within the InvestSG paper‑trading environment and comply with the following:
- No leverage or margin trading is allowed.
- Trading in derivative instruments such as options, warrants, or similar products is not allowed.
- Trading is restricted to eligible securities only. Please refer to Appendix A for the list of eligible securities.
- Transaction costs: buy and sell trades include transaction costs as configured in the simulation platform.
Portfolio constraints:
- Teams are required to establish positions within the initial five trading days of the competition. Effective on and from 2 February 2026, each Team’s portfolio must maintain a minimum investment level (e., exposure to eligible securities) of not less than 80% at the end of every trading day, with cash holdings restricted to a maximum of 20%. Teams bear sole responsibility for monitoring compliance via the simulation platform (InvestSG), as the system will not issue alerts for breaches. Teams are encouraged to maintain a prudent cash buffer on an intraday basis to avoid end-of-day cash breaches due to price moves. Any team exceeding the cash limit on more than three trading days (whether consecutive or not) during the qualifying round will be disqualified and will not progress to the Finals.
- Upon initiation or augmentation of a position, the exposure to any individual eligible security must not exceed 10% of the portfolio’s total value. Should this threshold be surpassed due to market appreciation, such occurrence is permissible and will not activate system restrictions or warnings.
- Each portfolio is restricted to a maximum of 30 eligible securities at any time.
3. Judging and Advancement (Qualifying Round)
Team rankings are determined by the total return of each team’s portfolio as computed by the simulation platform (InvestSG). Breaching the cash limit on more than three trading days (whether consecutive or not) results in disqualification. Top 6 teams will be notified by the Organisers and will proceed to the Finals.
4. Conduct
Participants must act with integrity and comply with the terms and conditions of the InvestSG platform and these rules and regulations. Violations (including constraint breaches) are grounds for penalties or disqualification.
5. Organisers’ Rights and Dispute Resolution
The Organisers reserves the right to disqualify or penalise any team in breach of the rules and to make changes to the rules at any time. The Organisers’ decision in relation to any disqualification, penalty or dispute is final. No appeal will be entertained.
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Personal Data Protection and Photography/Videography
By submitting your personal data, you consent to Fullerton Fund Management Company Ltd. (“Fullerton”) collecting, using and disclosing your personal data for purposes relating to the administration and conduct of this event, including event communications, registration and attendance records. Your personal data may be disclosed to Fullerton’s third-party service providers, event sponsors and business partners where necessary for these purposes.
Photographs, video and voice recordings may be taken during the event by Fullerton and its third-party service providers. By attending the event, you consent to the collection, use and disclosure of your photograph, voice, likeness, image and videography for purposes including internal dissemination within Fullerton, event-related publicity and disclosure to event sponsors and business partners, in accordance with Fullerton’s Privacy Notice.
For detailed FAQs, please refer here.
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