Fullerton / SGX Value-Up Singapore Equities Challenge (Open)
A joint initiative by Fullerton Fund Management and SGX Group
Fullerton / SGX Value-Up Singapore Equities Challenge (Open Category)
1. Overview of the Fullerton/SGX Value-Up Singapore Equities Challenge
The Fullerton / SGX Value-Up Singapore Equities Challenge is a virtual investment competition jointly organised by Fullerton Fund Management Company Ltd. (“Fullerton”) and Singapore Exchange Limited (“SGX”) (collectively, the “Organisers”). The competition is designed to deepen participants’ understanding of Singapore’s equity markets and provide practical experience in researching, evaluating and managing investments in Singapore-listed companies through a simulated trading environment — without the use of real capital.
The competition aims to:
- Encourage greater participation in and understanding of Singapore’s equity markets
- Strengthen investment knowledge and financial literacy through hands-on application
- Broaden awareness of the investment opportunities available within the Singapore equities market
- Enable participants to construct and manage a Singapore equities portfolio while responding to changing market conditions
The competition comprises two categories:
Student Category
The Fullerton / SGX Value-Up Singapore Equities Challenge (Student Category) is open to tertiary students aged 18 and above from polytechnics and universities in Singapore in teams of 4. It is designed to bridge classroom learning with practical exposure to investing, helping students apply investment concepts to real-world market conditions and develop a stronger understanding of Singapore-listed companies and the local equity market.
Open Category
The Fullerton / SGX Value-Up Singapore Equities Challenge (Open Category) is open to members of the public, with participants competing on an individual basis. It provides participants with a practical platform to research and evaluate Singapore-listed companies, identify investment opportunities, construct and manage a Singapore equities portfolio, and respond to changing market conditions through simulated trading.
2. What does the Fullerton / SGX Value-Up Singapore Equities Challenge (Open Category) involve?
The Challenge comprises an eight-week virtual trading simulation conducted through the InvestSG platform. The Open Category is open to individual participants, who will compete against one another through the platform. At the end of the simulation, the top three participants on the InvestSG leaderboard will be identified as the winners.
3. Access to Virtual Trading Simulation Platform and Confidentiality
- Each participant must create or maintain an InvestSG account, or such other account designated by the Organisers, to participate in the virtual trading simulation.
- Each participant must use only his/her own individual account and must not share login credentials or allow another person to trade on his/her behalf.
- Participants must treat as confidential all information provided by the Organisers, their partners and platform providers, and all information received during the Challenge. Participants must not disclose such information to any third party or use it for any purpose other than participating in the Challenge without the Organisers’ prior written consent.
- Participants must not record, publish or release any information or material received in connection with the Challenge without the Organisers’ prior written consent.
4. Prizes
Cash prizes will be awarded to the top three participants based on their final rankings in the Challenge:
1st Place: SGD 3,000
2nd Place: SGD 2,000
3rd Place: SGD 1,000
The Organisers reserve the right to amend the prize structure and amounts at their discretion without prior notice.
5. How to Participate
- Individual participation: Each entry is made by one individual.
- Registration: Each participant must complete the registration process and provide the required InvestSG username or account details. The email address submitted by a participant will be used as the primary communication channel between the participant and the Organisers.
- Account responsibility: Each participant is responsible for the accuracy and validity of the information submitted and for all activity conducted through their individual account.
6. Eligibility for Participation
- The competition is open to Singaporeans and Permanent Residents (aged 18 and above as of 5 October 2026)
- Each participant may register only once and may participate using only one individual account.
- The directors, officers and employees of the Organisers and their immediate family members are not eligible to participate in the competition.
- The Organisers may reject or disqualify an entry at their sole and absolute discretion, including where the participant does not meet the applicable eligibility or account requirements, or where the participant has provided inaccurate or misleading information.
- A participant may register for either the Student Category or the Open Category (provided that it meets the relevant eligibility requirements), but not both.
- A participant must register using his/her full legal name as shown on a valid government-issued identity document and provide such additional particulars as the Organisers may reasonably require to verify the Participant’s identity. The Organisers may disqualify a participant if inaccurate, incomplete, misleading or false information is provided.
7. Important Dates to Note*
| Event | Date / Time |
|---|---|
| Registration Period | 5 October 2026 – 30 November 2026 |
| Virtual Trading Challenge | 7 December 2026 – 29 January 2027 |
| Notification of Winners | By 12 February 2027 |
* Details may be subject to change
8. Virtual Trading Simulation
8.1. Platform and Scope
All trades must be executed within the InvestSG virtual‑trading environment. Rankings and portfolio metrics will be displayed on the platform dashboard; a leaderboard will show current standings.
8.2. Trading Rules and Constraints
Participants that do not comply with the rules and constraints may be penalised or disqualified. The Organisers reserve the right to modify the trading rules and constraints at any time before or during the trading period. All trades must be executed within InvestSG and comply with the following:
- No leverage or margin trading is allowed.
- Trading in derivative instruments, including options, warrants or similar products, is not allowed.
- Trading is restricted to eligible securities listed in Appendix A.
- Buy and sell trades are subject to transaction costs configured in the InvestSG simulation platform.
Portfolio constraints:
Each participant must establish positions within the first five trading days of the competition.
With effect from 14 December 2026, each participant’s portfolio must (as measured at the end of each trading day) maintain a minimum investment level of 80% in eligible securities, and cash holdings must not exceed 20% of the portfolio’s total value.Participants are solely responsible for monitoring compliance through InvestSG. The system will not issue alerts for breaches. Participants are encouraged to maintain a prudent intraday cash buffer to avoid end-of-day breaches caused by price movements.
A participant that exceeds the 20% cash limit on more than three trading days, whether consecutive or not, will be disqualified.
When initiating or augmenting a position, exposure to any individual eligible security must not exceed 10% of the portfolio’s total value. If the 10% threshold is exceeded solely because of subsequent market appreciation, that occurrence is permitted and will not trigger system restrictions or warnings.
Each portfolio is restricted to a maximum of 30 eligible securities at any time.
8.3. Judging
Individual participant rankings will be determined by the total return of each participant’s virtual portfolio, as calculated by InvestSG. The top 3 eligible participants will be identified as the prize winners, subject to compliance with these terms and conditions and verification by the Organisers.
8.4. Conduct
Participants must act with integrity and comply with the terms and conditions of the InvestSG platform and these rules and regulations. Participants must not engage in harassment, discrimination, bullying, threatening, abusive or unsafe conduct, or any conduct that disrupts the event or compromises the safety, wellbeing or dignity of others. Participants must promptly report any such conduct or safety concern to the Organisers. The Organisers may investigate any reported or suspected breaches of conduct or these terms and conditions and may, in their sole and absolute discretion, issue warnings, remove a participant from the event, restrict participation, impose penalties or disqualify a participant.
9. Open Category Results and Prize Awards
9.1 Individual Ranking
Rankings will be based on total portfolio return as calculated by InvestSG at the end of the virtual trading simulation period. The Organisers may verify eligibility and compliance before confirming the final ranking.
9.2 Notification of Results
The Organisers will notify the winning participants of the results through the communication channel provided during registration. By participating in the Challenge, participants will be deemed to have consented to the publication of their names or other identification details for the purpose of announcing the prize winners and for other legitimate purposes in connection with the Challenge.
9.3 Prize Awards
Prizes will be awarded to the top 3 eligible individual participants after the final ranking and compliance checks have been completed. A prize may be withheld or forfeited if a participant is found to have breached these terms and conditions or the InvestSG platform terms and conditions.
Prize winners must provide satisfactory proof of their identity and eligibility upon request. If a prize winner is unable to do so, or fails to satisfy the applicable eligibility criteria, the Organisers may (in their sole and absolute discretion) disqualify that winner and award the prize to the next highest-ranked participant who fulfils all applicable criteria.
Payment of prize money must be made directly to the winner’s own bank account. Third-party payments are not permitted.
To facilitate payment, winners must provide the following information:
- Full legal name, as stated on their NRIC or passport
- Beneficiary account name
- Bank account number
- Beneficiary bank name
- Bank details
9.4 Fair Play and Originality
Participants must make their own trading decisions and must not manipulate the simulation, collude with other participants, use another person’s account or engage in any conduct that undermines the integrity or fairness of the Challenge.
9.5 Late Registration and Technical Issues
Late registrations will not be accepted unless expressly permitted by the Organisers at their sole and absolute discretion. Participants are advised to register and establish their virtual portfolios well in advance of the relevant deadlines. The Organisers do not assume any responsibility for technical or network issues. Where a Google Form is used, a confirmation copy will serve as acknowledgement of receipt where feasible.
10. Contact for Clarifications
Queries should be submitted through the official competition email channel: ValueUpSingaporeEquityChallenge@fullerton.com.sg. The Organisers will address questions on logistics, registration and rules only. The Organisers will not provide any investment idea, strategy or other guidance that may confer an unfair advantage on a particular participant.
Participants should note that they will not receive any certificate of participation for completing the Challenge.
11. Organisers’ Rights and Dispute Resolution
The Organisers reserve the sole and absolute right to penalise or disqualify any participant who breaches these terms and conditions and to amend these terms and conditions at any time. The Organisers’ decision in relation to any disqualification, penalty, prize award or dispute is final. No appeal will be entertained.
12. Liability and Indemnity
To the extent permissible by law, participants accept and agree not to hold the Organisers or their partners responsible for any injury, loss, cost, expense or damage arising from participation in the Challenge, including any platform disruption or downtime, technical or network issues, prize dispute or third-party claim.
13. Intellectual Property Rights
By making a submission, participants represent and warrant that they are the sole legal and beneficial owner of all the intellectual property rights and interests in their submissions, which are their original work and are free of any infringement or likely infringement of any third party rights. Participants will defend the Organisers against any claim, demand, suit or proceeding made or brought against the Organisers by a third party (i) alleging that the submission of a participant infringes or misappropriates the intellectual property or other rights of a third party or (ii) alleging liability, damages, costs or fees based on, related to or arising from the Organisers’ use of the submission, and will indemnify the Organisers for any damages, attorney fees and costs awarded against the Organisers as a result of, or for any amounts paid by the Organisers under a settlement of such claim. Participants retain all intellectual property rights in their submissions unless otherwise agreed with the Organisers or their partners. By participating, participants grant the Organisers an unrestricted, irrevocable, royalty‑free, world-wide, perpetual licence to use, apply, reproduce, display or broadcast competition submissions (or a summarized or adapted version thereof) for marketing, publicity and reporting purposes, with appropriate credit where feasible.
14. Privacy Policy
The Organisers will collect, use, disclose and otherwise process participants’ personal data, including their names, contact details, age, nationality or residency status, identification and eligibility-verification information, InvestSG account and registration details, trading and portfolio information, competition submissions, correspondence, bank account and payment details and recordings of their images, voices and performances, for the purposes of administering the competition, registering and communicating with participants; verifying identity, eligibility and compliance with these rules and regulations; facilitating access to and use of the InvestSG platform; monitoring participation and trading activity; judging entries, determining, verifying and announcing results; awarding, processing and administering prizes; responding to enquiries, feedback, complaints and disputes; preventing, detecting and investigating fraud, misconduct, security incidents and breaches of these rules and regulations; maintaining records; conducting audits, analytics and reporting; improving the competition and planning future iterations; complying with applicable legal obligations; and marketing, publicity and promotional purposes relating to the competition, the Organisers and future iterations of the competition. Personal data may be disclosed to the Organisers’ affiliates, service providers, platform providers, judges, partners, professional advisers, insurers, auditors, regulators, law enforcement agencies and other recipients where necessary or appropriate for the foregoing purposes or as required or permitted by applicable law, including recipients located outside Singapore. Personal data will be retained only for as long as necessary for those purposes or as required by applicable law. Participants may contact the Organisers to request access to or correction of their personal data, or to withdraw consent where consent is the applicable basis for processing; withdrawal of consent may affect the Organisers’ ability to administer the participant’s participation in the competition. Photography and video/voice recording may be conducted during the competition. The Organisers may also use, reproduce, publish, display, broadcast, edit, adapt or combine a participant's image, voice or performance with other materials for marketing, publicity, promotional, reporting, archival or future iterations of the competition, including publication on digital platforms, websites, social media, print materials and event collaterals.
By registering for, submitting an entry to, or otherwise participating in the competition, each participant irrevocably acknowledges and agrees that he/she has read, understood and accepted, and shall be bound by, these rules and regulations (as amended, supplemented or replaced from time to time).) as well as the terms and conditions of the InvestSG platform. Participation (including any continued participation following any amendment) shall constitute such participant’s deemed acceptance of the then‑current rules and regulations. If a participant does not agree to be bound, he/she must not participate in this competition.
Appendix A – Eligible Securities
| Bloomberg Ticker | SGX Stock Code | Name |
|---|---|---|
| 8YZ SP Equity | 8YZ | YANGZIJIANG MARITIME DEVELOP |
| AAREIT SP Equity | O5RU | AIMS APAC REIT |
| ADDV SP Equity | A31 | ADDVALUE TECHNOLOGIES LTD |
| AEM SP Equity | AWX | AEM HOLDINGS LTD |
| ASTI SP Equity | 575 | ASTI HOLDINGS LTD |
| AZTECH SP Equity | 8AZ | AZTECH GLOBAL LTD |
| BAL SP Equity | P8Z | BUMITAMA AGRI LTD |
| BOCS SP Equity | F9D | BOUSTEAD SINGAPORE LTD |
| BS SP Equity | B61 | BUKIT SEMBAWANG ESTATES LTD |
| CAO SP Equity | G92 | CHINA AVIATION OIL SINGAPORE |
| CAREIT SP Equity | 8C8U | CENTURION ACCOMMODATION REIT |
| CD SP Equity | C52 | COMFORTDELGRO CORP LTD |
| CDREIT SP Equity | J85 | CDL HOSPITALITY TRUSTS |
| CENT SP Equity | OU8 | CENTURION CORP LTD |
| CIT SP Equity | C09 | CITY DEVELOPMENTS LTD |
| CLAS SP Equity | HMN | CAPITALAND ASCOTT TRUST |
| CLCT SP Equity | AU8U | CAPITALAND CHINA TRUST |
| CLINT SP Equity | CY6U | CAPITALAND INDIA TRUST |
| CNMC SP Equity | 5TP | CNMC GOLDMINE HOLDINGS LTD |
| CSE SP Equity | 544 | CSE GLOBAL LTD |
| DCREIT SP Equity | DCRU | DIGITAL CORE REIT MANAGEMENT |
| DELFI SP Equity | P34 | DELFI LTD |
| DFI SP Equity | D01 | DFI RETAIL GRP HLD-SING REG |
| DHLT SP Equity | DHLU | DAIWA HOUSE LOGISTICS TRUST |
| EGX SP Equity | EGX | EGP ENERGY CORP LTD |
| EREIT SP Equity | 9A4U | ESR-REIT |
| FCT SP Equity | J69U | FRASERS CENTREPOINT TRUST |
| FEH SP Equity | F03 | FOOD EMPIRE HOLDINGS LTD |
| FEHT SP Equity | Q5T | FAR EAST HOSPITALITY TRUST |
| FHH SP Equity | FHH | FOUNDATION HEALTHCARE HOLDIN |
| FLT SP Equity | BUOU | FRASERS LOGISTICS & COMMERCI |
| FR SP Equity | EB5 | FIRST RESOURCES LTD |
| FRKN SP Equity | E28 | FRENCKEN GROUP LTD |
| GENS SP Equity | G13 | GENTING SINGAPORE LTD |
| GERL SP Equity | RE4 | GEO ENERGY RESOURCES LTD |
| GGR SP Equity | E5H | GOLDEN AGRI-RESOURCES LTD |
| GRC SP Equity | S3N | GLOBAL RESOURCE CONSTRUCTION |
| HG SP Equity | AGS | HOUR GLASS LTD/THE |
| HLA SP Equity | H22 | HONG LEONG ASIA LTD |
| HPAR SP Equity | H02 | HAW PAR CORP LTD |
| HPHT SP Equity | NS8U | HUTCHISON PORT HOLDINGS TR-U |
| ICG SP Equity | KUO | INTERNATIONAL CEMENT GROUP L |
| IEV SP Equity | Z4D | MEDI LIFESTYLE LTD |
| IFAST SP Equity | AIY | IFAST CORP LTD |
| INNOT SP Equity | M14 | INNOTEK LTD |
| ISDN SP Equity | I07 | ISDN HOLDINGS LTD |
| IWOW SP Equity | NXR | IWOW TECHNOLOGY PTE LTD |
| IXBIO SP Equity | 42C | IX BIOPHARMA LTD |
| KBE SP Equity | 5HV | KOH BROTHERS ECO ENGINEERING |
| KDCREIT SP Equity | AJBU | KEPPEL DC REIT |
| KIT SP Equity | A7RU | KEPPEL INFRASTRUCTURE TRUST |
| KREIT SP Equity | K71U | KEPPEL REIT |
| LREIT SP Equity | JYEU | LENDLEASE GLOBAL COMMERCIAL |
| LUCC SP Equity | LCC | LUM CHANG CREATIONS LTD |
| MINT SP Equity | ME8U | MAPLETREE INDUSTRIAL TRUST |
| MLT SP Equity | M44U | MAPLETREE LOGISTICS TRUST |
| MMFS SP Equity | 5WJ | MONEYMAX FINANCIAL SERVICE L |
| MPACT SP Equity | N2IU | MAPLETREE PAN ASIA COM TRUST |
| MPM SP Equity | 5LY | MARCO POLO MARINE LTD |
| NANO SP Equity | MZH | NANOFILM TECHNOLOGIES INTERN |
| NCL SP Equity | 1MZ | NAM CHEONG LIMITED |
| NETLINK SP Equity | CJLU | NETLINK NBN TRUST |
| NTTDCR SP Equity | NTDU | NTT DC REIT |
| OKP SP Equity | 5CF | OKP HOLDINGS LTD |
| OLG SP Equity | VC2 | OLAM GROUP LTD |
| OTEK SP Equity | HQU | OILTEK INTERNATIONAL LTD |
| OUEREIT SP Equity | TS0U | OUE REAL ESTATE INVESTMENT T |
| PAN SP Equity | P52 | PAN-UNITED CORP LTD |
| PCPG SP Equity | PCT | PC PARTNER GROUP LTD |
| PREIT SP Equity | C2PU | PARKWAYLIFE REAL ESTATE |
| PROP SP Equity | OYY | PROPNEX LTD |
| RFMD SP Equity | BSL | RAFFLES MEDICAL GROUP LTD |
| RSTON SP Equity | AP4 | RIVERSTONE HOLDINGS LTD |
| SASSR SP Equity | CRPU | SASSEUR REAL ESTATE INVESTME |
| SATS SP Equity | S58 | SATS LTD |
| SBUS SP Equity | S61 | SBS TRANSIT LTD |
| SGREIT SP Equity | P40U | STARHILL GLOBAL REIT |
| SIE SP Equity | S59 | SIA ENGINEERING CO LTD |
| SPOST SP Equity | S08 | SINGAPORE POST LTD |
| SPWG SP Equity | 5GD | SUNPOWER GROUP LTD |
| SSG SP Equity | OV8 | SHENG SIONG GROUP LTD |
| STH SP Equity | CC3 | STARHUB LTD |
| STM SP Equity | 5E2 | SEATRIUM LTD |
| SUN SP Equity | T82U | SUNTEC REIT |
| UGAI SP Equity | ULG | ULTRAGREEN.AI LTD |
| UIBREIT SP Equity | UIBU | UI BOUSTEAD REIT |
| UMSH SP Equity | 558 | UMS INTEGRATION LTD |
| UOBK SP Equity | U10 | UOB-KAY HIAN HOLDINGS LTD |
| UOL SP Equity | U14 | UOL GROUP LTD |
| VALUE SP Equity | BN2 | VALUETRONICS HOLDINGS LTD |
| VMS SP Equity | V03 | VENTURE CORP LTD |
| WHUR SP Equity | E3B | WEE HUR HOLDINGS LTD |
| YLLG SP Equity | Z25 | YANLORD LAND GROUP LTD |
| YZJFH SP Equity | YF8 | YANGZIJIANG FINANCIAL HOLDIN |