LOCAL university students are taking on the famed American Ivy League in an international financial competition.

In April(actual final is on April 19), a team from the University of York will be travelling to Atlanta in the US to take part in the finals of a hedge fund management competition, run by Georgia State university and the Southeastern Hedge Fund Association.

While there, they will be asked to formally pitch the investment trading strategy they have devised to a panel of US industry experts, with a top prize of $10,000, around £7,000, on offer.

Universities from around the world entered, including big-hitters such as Harvard Business School and MIT, but York was the only British university to submit a team.

The five students, Tom Armstrong, 20, Edward Bottomley, 21, Jasmine Gotobed, 21, Theo Wilson, 21, and Gabriel Zedda James, 21, were brought together by the Griff investment fund, which operates a student-run equity portfolio of £10,000 at the university, but the idea, concept and delivery were entirely student-led.

Their strategy involves finding a new way of assessing the financial strength of a company that would prove more effective than the current system - the Piotroski F-Score.

They researched indicators for stocks over the past 20 years and devised a model that achieves a return which far outpaces general tracker funds with limited risk.

Keith Anderson, chairman of the Griff fund, said: "The team have impressed me with their technical knowledge and professionalism, developing a complex strategy and back-testing it convincingly within a very short time. I am delighted that they have been selected to go forward to the final in Atlanta.

"I have been chairman of the Griff fund at the university since 2013, overseeing student analysts investing real money in the stock market.

"Armed with this real-world experience many of our alumni have gone on to successful city careers in funds management or consulting, but Griff analysts putting forward a hedge fund strategy has been a new departure for us."

As part of their expedition, the students' accommodation has been paid for by the competition organisers, but they are currently looking for funding for their travel costs.