The challenge will see five contestants each tasked with growing a $10,000 sum (provided by RaboPlus.co.nz) as much as possible over the next six months, by investing in Managed Funds via RaboPlus.co.nz.
This year's guest contestant is Lisa Dudson, a Certified Financial Planner and best selling NZ author. She is the winner of the 2003 Young Financial Planner of the Year and has appeared on TV, radio and in magazines, and is also a sought after speaker. Lisa is a successful investor who offers practical advice based on her industry expertise and the strategies she has personally used.
Various wildcards will be thrown in throughout the competition to spice things up. The public can also submit their top investment advice online, and the top three tips, as voted by the audience, will win cash prizes.
At the end of the six-month challenge, in December, the contestant with the largest sum of money will be crowned Investor of the Year and take home the sought-after $30,000 first prize. Runners up will all take home a 42" flat LCD screen TV.
Last year's winner, Hamish Wesney of Newtown, says that "to win, you only need to beat the other contestants by one cent, irrespective of how much money you make (or lose) over the six month period. Given the short period, timing is critical, especially in buying and selling managed funds."
He says contestants should think about key events that will happen during the six-month period, such as the general election, and how this might influence the financial markets.
Hamish has invested his $30,000 winnings from last year in a RaboPlus term deposit, and says he will be using the money as a house deposit "when the time comes".
A panel of fund managers will be on hand to give expert advice and there will be a running commentary of contestant tactics as the challenge heats up.
Last year's challenge grabbed the attention of the online investment community, with the