Students of the Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM) who are members of the Gamabagger team won 3rd place in the International Stock Portfolio Analysis Competition (ISPAC) 2025. The competition was organized by the Indonesia Stock Exchange Investment Gallery, FEB State University of Jakarta, online from April 19 to July 6, 2025.
The Gamabagger team consists of three students from the Accounting study program class 2024: Jonathan Cahaya Kristianto, Immanuel Andrew Tambunan, and Adrianus Marselinus Senayuda Dhityra. They competed with 56 other teams from national and international universities, such as Universiti Malaysia Sabah, Gadjah Mada University, Brawijaya University, PKN STAN, Jakarta State University, Udayana University, Jenderal Soedirman University, Ciputra University, Malang State University, and Prasetiya Mulya University.
Jonathan explained that all teams must undergo a series of selection stages in this competition. The competition consisted of stock picking, report analysis, and final presentation. In the first stage, the committee provided participants with a list of 63 issuers listed on the Indonesia Stock Exchange, including those in the IDX KEHATI ESG Sector Leader Index. Each team filtered and selected five issuers from this list to include in their portfolio.
The competition challenged each team to develop a stock portfolio that maximized value while considering sustainability aspects and aligning with global economic dynamics. The organizers also set a limit of one billion rupiah for the portfolio, requiring teams to allocate funds carefully and proportionally.
He continued that the Gamabagger team used various indicators such as market capitalization, ESG score, and stock beta in this process. The team also considered external factors such as geopolitical and global economic conditions. After selecting the stocks and calculating the portfolio composition, the team compiled a data-based report in the form of a paper.
Jonathan said they included visualizations to make it easier for the judges to read and understand the analysis results. They also provided recommendations for buy, sell, or hold decisions based on their valuation results and relevant macroeconomic conditions. After completing the report analysis stage, the Gamabagger team secured a spot in the top ten and advanced to the final round. All finalists presented their analysis reports online to the judges at this stage.
After going through the report analysis stage, the Gamabagger team reached the top ten and advanced to the final round. All finalists must present their analysis reports online to the jury.
Jonathan said he was proud and happy with their achievements. This was their first time participating in a competition focused on stock portfolio analysis. The team’s success results from hard work and team cohesiveness during the competition. This achievement is also inseparable from the support and facilitation of FEB UGM through the Economia Stock Market community and the support of lecture materials, such as Introduction to Management and Introduction to Accounting courses, which help shape their basic understanding of financial statement analysis and managerial strategies. They also benefit from internal discussions and guidance from an academic environment, encouraging critical and systematic thinking.
Report by: Orie Priscylla Mapeda Lumalan
Editor: Kurnia Ekaptiningrum
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