A team of children from Penair School is gearing up to join other schools from around Cornwall for a financial challenge.

Worldwide Financial Planning, in association with Cornwall Education Business Partnership (EBP), are allocating teams £100,000 of virtual money to manage a portfolio of stocks and shares.

Pupils, ranging from 14-18 years old, have to study the market and decide when to buy and sell in order to secure a good return.

Peter McGahan, managing director of Worldwide Financial Planning, said: "By taking part in this competition, students will have fun and at the same time develop skills in financial capability.

"Before making any investments, teams will need to complete thorough research on companies using both newspapers and the internet.

"All profits and losses have to be recorded, and one allocated member from each school will have to report back to a board of Worldwide members at regular intervals.

"The group that makes the biggest return will win a cash prize and a trip to the Bank of England."

EBP has successfully brought schools as far apart as Penzance and Torpoint together for this challenge.

Trading will commence on Monday 1 October until Friday 18 April 2008.

But to offer some hints and tips, Peter joined all teams on Monday at the Alverton Manor, Truro, for the launch event.

"To help the students get started, they will be provided with an information pack and I will suggest what to look for when choosing their companies as well as where to find information," added Peter, who has offices in Truro and Wadebridge.

Julie Fellows, EBP service manager, will also be speaking at the event.

"This competition is a great way of giving young people an insight into the world of finance," said Julie.

"Working with one of the UK's most successful financial advisors is a fantastic opportunity for the students."

Peter hopes this challenge will be an inspiration to the pupils.

"Finance probably isn't a career many of the youngsters have considered yet, but after this competition who knows, we could have a Chancellor of the Exchequer in the making."