UMushroom launches Switzerland-wide competition for financial literacy
The ‘Switzerland for Financial Literacy’ investment competition, organised by the UMushroom financial platform, will be launched on 1 February. The competition is aimed at anyone aged 18 and over who is resident in Switzerland and aims to promote an understanding of key financial concepts and the development of investment skills. Swissquote is the main partner and Zürcher Kantonalbank (ZKB) is a key supporter.
The Swiss financial platform UMushroom offers users easy access to a large, clearly structured investment universe and provides them with the information and tools to make independent investment decisions. Education and financial knowledge are of central importance to UMushroom, because only with the necessary basic knowledge can investors make responsible investment decisions.
Luba Schönig, co-founder of UMushroom, explains: “The ‘Switzerland for Financial Literacy’ investment contest is not just about performance, but also about acquiring financial knowledge. That’s why people with little investment experience can also take part.”
The competition will take place from 1 February to 24 April 2024. Participants can playfully trade securities, solve financial tasks and win prizes without using real money. After registering via UMushroom (https://umushroom.com/en/contest/switzerland-for-financial-literacy-2024), they create a portfolio and add it to the competition group. Anyone who completes a milestone activity will not only be rewarded with competition points, but also with valuable tips for their future investment journey. Participation is free and can take place at any time; however, joining later will reduce the number of points that can be collected until 24 April 2024.
At the end of the contest, a jury consisting of representatives from Swissquote, Zürcher Kantonalbank (ZKB) and the University of Zurich will determine the winners based on various criteria: Performance (Swissquote), diversification (ZKB) and portfolio and strategy documentation (University of Zurich). Other partners are Invesco, ViCAFE, Faulhaber Marketing and various Swiss luxury hotels. Attractive prizes await the best participants in the competition, including two VIP tickets to the 2024 Europa League final in Dublin, a ZKB fund portfolio worth CHF 10,000, a barista workshop at ViCAFE, and many more.
Tonia Zimmermann, co-founder of UMushroom, summarises: “Even though Switzerland is a country of the financial industry, many people do not invest. We are keen to use the Investment Contest to bring investing closer to a wider group. Investing should become a habit for everyone.”