CIBC has launched a 'Beat the Street' investment challenge, designed to provide would-be investors with a simulated online brokerage experience.
The service is being offered by CIBC Investor's Edge, the discount brokerage division of CIBC Investor Services, in partnership with CRM solutions provider Simvest Solutions.
Beat the Street simulates real-life investing within a mock portfolio and provides participants with an opportunity to compete against others based on their ability to increase a fictional portfolio of $100,000 over the duration of the contest. CIBC Investor's Edge is running four, one-month online investment challenge segments from August through to November, 2001 on the discount brokerage's Web site.
"It's all about giving clients the tools and know-how to take control of managing their own investment portfolio. With Beat the Street, investors can practice and nurture their skills and gain practical, hands-on investment experience that may benefit their personal portfolio," says Donna Lalumière, president and chief executive officer, CIBC Investor Services.
More than $20,000 in cash prizes is up for grabs. The winner's mock portfolio must outperform the TSE 300 Index over the Challenge timeframe to qualify for the draw. Other cash prizes will be awarded to randomly selected participants from each of the four game segments and to the participants with the highest overall return on their initial investment over the course of each challenge.