There were many excellent submissions, yet there was no single overall standout as a first prize. The judges, myself included, opted for four second prizes and eleven (instead of ten) honorable mentions
New York, NY (PRWEB) February 18, 2009
The third round of the "Next Generation Portfolio Design Contest" run by Clear Indexes LLC has come to a close, and four submissions tied for second place. The following students' second prize submissions were each awarded $1,000.00.
- Bradley Argentine and Matthew Delaney - Clarkson University
- Benjamin Huan, Joseph Huan, and Ellis Kim - MIT
- Joel Nybeck - New York University
- Justin Samra - New York University
"There were many excellent submissions, yet there was no single overall standout as a first prize. The judges, myself included, opted for four second prizes and eleven (instead of ten) honorable mentions," said Andrew Corn, CEO of Clear Indexes LLC and Chief Investment Officer - Equities of Beacon Trust Company.
The contest, which ended on December 8th, was established to discover original and innovative ideas for ETFs and other packaged products. It has evolved to include all investment strategies. Guidelines for each submission included both constructability and marketability to investors. Students were required to submit their investment thesis and marketing theme on the competition's website and received updates on the contest's Facebook group. Building on the success of previous rounds of the contest, which initially included only three schools, this round was open to fifteen schools: Babson College, Brooklyn College, Bucknell University, Case Western Reserve University, Clarkson University, Columbia University, Cornell University, Harvard University, Johns Hopkins University, Lehigh University, Loyola College, MIT, New York University, Penn State University, and York University. Both undergraduate and graduate students, either individually or as groups, were eligible to submit entries.
Due to the extraordinary quality of the entries, the panel of judges, which included Fred Fraenkel, Vice Chairman of the Board of Directors and Chairman of the Investment Policy Committee of Clear Indexes' parent company, Beacon Trust Company, decided to name eleven honorable mentions instead of the predetermined ten. Students were allowed up to five submissions. Two of the second prize winners also received honorable mentions, which were as follows:
- Andy Badger and Jon Brown - Clarkson University
- Reon Curry - Clarkson University
- Dan Ha - Pennsylvania State University
- Benjamin Huan, Joseph Huan, and Ellis Kim- MIT
- Alexander Lachman - Johns Hopkins University
- Bill Maurer - Lehigh University
- Oscar Munoz - Pennsylvania State University
- Joel Nybeck - New York University
- Colin Sloand - Lehigh University
- Nicole Waldow and Nicole Wilder - Clarkson University
- Daniel Zehler - Clarkson University
Clear Indexes, along with its parent firm, Clear Asset Management, were recently acquired by Beacon Trust Company, an investment management firm and trust bank headquartered in Madison, NJ, which manages approximately $1 billion. The combined firm, known as Beacon Trust Company, has opened a New York office. It is anticipated that Clear Indexes will be renamed Beacon Indexes to reflect the acquisition.
For more information on the winners, visit http://www.clearindexes.com/etfcontest or the contest's Facebook group page at http://www.facebook.com/home.php#/group.php?gid=27791459814. Issuers of packaged products seeking licensing opportunities should contact Andrew G. Corn at (646) 884-9474 or email@example.com.
About Clear Indexes LLC
Clear Indexes LLC creates and publishes custom indexes using a combination of qualitative research and quantitative methods. Clear Indexes designs custom indexes to quantitatively measure specific market segments. The indexes are used for custom institutional benchmarks and investment product design. Clear Indexes is a wholly-owned subsidiary of Beacon Trust Company. For more information, please visit http://www.ClearIndexes.com.
About Beacon Trust Company
Chartered in 1988, Beacon Trust Company is an independent, majority employee-owned investment management firm devoted to the roles of investment manager, executor, trustee, and custodian for a select group of families and institutions. Beacon Trust Company has approximately $1 billion under management in equity and fixed income products and investment partnerships offered to individuals and institutions in separately managed accounts. For more information, please visit http://www.BeaconTrust.com.
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