KNOXVILLE, Tenn. (AP) -- University students in the Tennessee Valley Authority's 2013 Investment Challenge Program have outpaced the stock market.
Student teams from 25 universities within the utility's service area participated in the challenge by managing real stock portfolios. With faculty guidance, the students designed long-term investment strategies and selected investments within certain guidelines established by TVA.
Last year, the Standard and Poor's 500 Index produced a 32.4 percent return, the best in 16 years. But students still managed to top it with a return of 33.8 percent. Tennessee Tech University had the top- performing team with a 47.7 percent return.
According to TVA, the utility initially provided $1.9 million from one of its long-term asset retirement trusts to start the program. Through 2013, the program has grown to more than $12 million.
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