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WEST DES MOINES, Iowa -- Kum & Go, one of the nation’s leading convenience store chains, crowned the University of Northern Iowa as the winner of the 2009 Krause Challenge investment competition.
UNIBusiness students from the Studies in Portfolio Management class were congratulated personally by Kum & Go founder and chairman W.A. Krause, who also presented them with a $10,000 award in honor of the 10 years the challenge has run.
The Krause Challenge began in 1998 when W.A. Krause provided a one-time gift of $400,000, which was divided equally among the University of Northern Iowa, Drake University, Iowa State University and the University of Iowa to create a program for finance students to personally experience stock market fluctuations and portfolio management. Every school competes to deliver the highest return on their portfolio and for the title of Krause Challenge winner, according to the c-store retailer.
Each year, the finance class or club at all universities learn about the stock market, review individual company stocks and then invest the program money into the stock market. The Krause Challenge is an ongoing program, which allows classes to re-invest the money from year to year. The only guideline is that 10 percent of the total portfolio has to be invested in Iowa-based companies.
"During a year with unstable and unreliable markets, [the] students at all four schools were presented with a great learning opportunity as they were exposed to investing and the stock market," said Kum & Go President and CEO Kyle J. Krause. "Congratulations to UNI for weathering the storm."
UNIBusiness Dean Farzad Moussavi called the Krause Challenge program the "perfect gift" in that it is ongoing, provides meaningful experience and asks students to give effort in return. "Regardless of who wins each year, all of the students who participate benefit from the experience," Moussavi said.
"I am honored and amazed to see how the Krause Challenge was embraced by the four schools. When we started the Krause Challenge, we had no idea how much it would impact the universities’ finance programs," stated W.A. Krause. "The Krause Challenge is now one of, if not the premiere finance class at all participating universities. We’re thrilled to see so many students learning and growing through the program."
The $10,000 UNI award will go toward supporting the Carl Schweser Financial Analysis review program in the university’s College of Business Administration.
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