The Peninsular Classic comprises two competitions annually, organised by South West Lakes Trust.. An individual bank competition held in May at Kennick Lake and at Wimbleball Lake a boat loch style competition for pairs, held in October. Both the competitions are open to all fly fishers and are fished to fishery rules.
The bank competition lasts for eight hours and the reservoir is divided into four sections, A,B,C,D, Each angler is allocated at random a section to start in by the organisers and then fishes two hours in each section moving round the reservoir in a clockwise direction. The bag limit is nine fish, but only four fish are to be caught in any one section as an angler moves round. If four fish are caught in one section then the angler must stop fishing and wait until it is time to move on to the next section before fishing again. Except if an angler has not caught his nine fish by the last section, in which case he may complete his bag in that section however many fish he needs to catch. The reason for this is to try and make the fishing fair for all taking part. If an angler finds a shoal of fish in one section he could catch all his fish very quickly, the rules prevent this by ensuring that an angler has to catch fish in at least three sections to achieve a bag limit. The first prize for the winner is a season ticket for the following year for South West Lakes Trust premier fly fishing lakes.