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FactSet to Partner with SumZero on Top Idea Tournament for Hedge Fund, Mutual Fund, and Private Equity Professionals

Companies and Markets   |   Earnings

By FactSet Insight  |  May 22, 2014

1.pngFactSet is proud to partner with SumZero on the FactSet Top Idea Tournament, a full-year contest open exclusively to research professionals working at hedge funds, mutual funds, and private equity funds.

Winners of the FactSet Top Idea Tournament will receive cash prizes worth $160,000, speaking slots and tickets to premier investor conferences, appearances on CNBC, and access to FactSet products. The top cash prize available to a single idea is $56,000. Individuals can enter multiple ideas and can capture multiple prizes. One individual can take home the entire $160,000 cash purse.

“FactSet is committed to helping the world’s best investment professionals outperform,” says Meredith Binder, SVP, Director of Global Marketing at FactSet. “Our partnership with SumZero on the FactSet Top Idea Tournament lets us publicly recognize and reward the industry's most innovative thinkers who create high-value investment research."

The FactSet Top Idea Tournament is the first contest designed to offer prizes based on research quality as well as the performance of the underlying recommendation. “Creating truly great research comes down to three parts: identifying a differentiated idea, presenting that idea in a compelling manner, and finally having the thesis materialize,” said SumZero CEO Divya Narendra. “This is a new class of research competition that rewards those ideas and the people that can complete the full cycle.”

Tournament Contests

The FactSet Top Idea Tournament consists of quarterly thematic research contests, the first of which, a “Best International (Ex-US)” contest, opens on June 9th. A new themed contest will launch every three months. Contest themes include: Best Short idea, Best Credit/Fixed Income idea, and Best Mid-Cap/Large-Cap idea.

Tournament Judges

Winners of each contest will be determined by simple vote via a panel of senior fund managers and asset allocators hand-selected for each theme. The panels include respected fund managers like Mohnish Pabrai (Pabrai Investment Funds), James Montier (GMO), Glenn Tongue (Deerhaven Capital Management), Guy Spier (Aquamarine Fund), Zeke Ashton (Centaur Capital Partners), as well as senior professionals from asset allocation firms like the Virginia Tech Foundation, the MIT Investment Company, the Cook Children's Health Care System, and the UCLA Investment Company.

“We were eager to establish a judges panel that included both respected fund managers, as well as high quality institutional fund investors that spend a good amount of their day-to-day reviewing pitches from prospective managers,” said Mr. Narendra.

Tournament Prizes

First, second, and third place finishers of the four themed contests will be awarded first-round cash prizes worth $15,000, $6,000, and $2,500, respectively. At the end of the year, an additional round of $5,000 cash prizes will be awarded to participants based purely on the four ideas with the highest total return. The two, best all-around ideas, across all contests, as determined by an additional level of judge assessment, performance, liquidity, and peer-review, will receive the Grand Prizes, worth an additional $36,000 and $10,000, respectively. A single idea can be awarded as much as $56,000.

In addition to the $160,000 of cash prizes associated with the FactSet Top Idea Tournament, winners will also receive speaking slots at major investment conferences including the 10th Annual NY Value Investing Congress alongside past presenters like David Einhorn, Bill Ackman, Leon Cooperman, Alex Roepers, and Jim Chanos. Winners at each level will also appear on CNBC’s Halftime Report to pitch their winning idea. The two grand prize winners will be eligible for one-year licenses to the FactSet workstation. All winners will be honored at SumZero’s Annual Awards Dinner next year in New York City.

Eligibility Rules

Eligible contestants must be actively employed at buyside funds and must be current members of the SumZero community. Contestants are asked to submit investment write-ups directly onto the SumZero website. Pitches must cover opportunities with at least $500 million in market capitalization.

Those research professionals actively employed at hedge funds, mutual funds, and private equity funds are invited to join the SumZero community without obligation at sumzero.com to learn more about the FactSet Top Idea Tournament.

Eligible individuals can enter as many ideas as they wish, and are eligible to win multiple prizes.

Those investors that are not eligible will still enjoy access to selected ideas as they become available through SumZero.

About SumZero
SumZero is the world’s largest community of investment professionals working at hedge funds, mutual funds, and private equity funds. With more than 10,000 pre-screened professionals collaborating on a fully-transparent platform, SumZero fosters the sharing of many thousands of proprietary investment reports every year and offers several ancillary services in support of that effort. These free services include capital introduction services, buyside career placement services, media placement, and more. SumZero’s membership base is represented by analysts and PMs at nearly all of the world’s largest and most prominent investment funds. Learn more at sumzero.com.

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