WARNING

The Next Challenge is an educational contest designed to promote a reasoned and reasonable approach to investment and portfolio management. It does not encourage speculation, even if leveraged ETFs are available as part of the challenge, nor is it a recommendation to invest in any company or product whatsoever.

As they build their portfolios, participants should keep in mind a few simple guidelines:

● Do not pay too much importance to past performance, as past performance is not a reliable indicator of future performance.

● There is no high performance without high risk. Diversification is essential to split risk and build sustainable performance.

● Always check the source of the information, i.e. the company or certified product promoter's website. Beware of information from Internet forums and social networks.

Consult the AMF's sections on investment and portfolio management. You can also refer to each company's Universal Registration Document (UDR) to learn more about the risk factors associated.
The UDR are available directly on company websites.

The Next Challenge is an educational contest designed to promote a reasoned and reasonable approach to investment and portfolio management. It does not encourage speculation, even if leveraged ETFs are available as part of the challenge, nor is it a recommendation to invest in any company or product whatsoever.

As they build their portfolios, participants should keep in mind a few simple guidelines:
● Do not pay too much importance to past performance, as past performance is not a reliable indicator of future performance.
● There is no high performance without high risk. Diversification is essential to split risk and build sustainable performance.
● Always check the source of the information, i.e. the company or certified product promoter's website. Beware of information from Internet forums and social networks.

Consult the AMF's sections on investment and portfolio management. You can also refer to each company's Universal Registration Document (UDR) to learn more about the risk factors associated. The UDR are available directly on company websites.

Individual Investor

● Each individual investor starts with a virtual allocation of €50,000.
● Whether or not they are members of an investment club, individual profiles can participate as individual investors in the challenge.Whether or not they join a club, individual profiles can participate as individual investors in the Next Challenge and the Euronext Trading Game*.
● Each individual profile has the possibility to entrust the management of all or part of its virtual allocation to one or more investment clubs of its choice, except for the club to which it belongs. Each individual profile has the option to entrust the management of their virtual allocation – with a minimum of €3,000 and a maximum of €30,000 – to one or more clubs of their choice with the exception of the club to which they belong.

* He can also compete without using his/her individual profile. He/her compete then as a club member only.

Diversification rules :

We do recommend the following diversification guidelines:
● Have at least 15 values
● Split in, at least, four different activity sectors
● No more than 10% of the portfolio on a value

Selection criteria:

● Gross performance
● Risk-adjusted performance
● HHI (concentration index)
● Number of lines
● Number of sectors
● Diversification ratio
● UCITS Rules

● Use of information sources
● Quiz
● Communication via le Chat du profil individuel
● Utilisation du Dashboard

Find out more about the Terms and Conditions of Next Challenge 2023-2024

Next Challenge 2023-2024 Terms and Conditions