What Is Portfolios with Purpose?
Portfolios with Purpose is an organisation that promotes a 'fantasy' stock picking game that raises money for charity. The competition is held every year, with contestants assembling notional portfolios of shares. The best-performing portfolio wins the game.
Where have you heard about Portfolios with Purpose?
As an investor, you may well have heard of Portfolios with Purpose in the context of investment for charitable purposes. Your financial adviser may have mentioned it as an opportunity to use your stock-picking skills to do good in an entertaining way.
What you need to know about Portfolios with Purpose.
Portfolios with Purposes was founded in 2011 by Stacey Asher, a former hedge fund employee turned aid volunteer, and is based in New York City. It has no salaried employees and is staffed by volunteers. Contestants pay an entrance fee to enter the annual contest and each then puts together a portfolio of five shares. These shares are not bought, but their performance is tracked as with any 'real' portfolio. At the end of the year the owner of the best-performing portfolio is declared the winner and can nominate the charity to which the total of the entry fees is to be donated.