CFA Institute Research Challenge

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The CFA Institute Research Challenge is an annual global competition in equity research hosted by the CFA Institute started in 2007. The competition provides university students with hands-on training and mentoring in financial analysis. [1] [2] [3] [4] [5] Students assume the role of a research analyst and are scored based on their ability to value a stock, write an initiation-of-coverage report, and present their recommendations. [6] [7] The competition is split by 3 geographical regions, Asia Pacific, EMEA, and the Americas. Both undergraduate and graduate students are eligible to participate. Teams begin in local competitions, from which winners advance to regional competitions. A final competition held in April identifies the winning team at the global level. [8] [9] [10]

Contents

For 2019, more than 6,100 students from over 1,150 universities from 95 countries participated in the competition. [11] [12] [13]

Team Compositions

Teams are sponsored by a university located within the area of the local competition in which the team wishes to compete. Each university may field up to two teams of three to five members. [14]

Results

YearGlobal Final Champion Gold medal icon.svgAmericas Regional Final Champion Silver medal icon.svgAsia Pacific Regional Final Champion Silver medal icon.svgEMEA Regional Final Champion Silver medal icon.svg
2007 Flag of the United States.svg Babson College Flag of the United States.svg Babson College
Flag of the United States.svg Rice University
Flag of the United States.svg Seton Hall University
Flag of Hong Kong.svg Chinese University of Hong Kong N/A
2008 Flag of Hong Kong.svg Hong Kong Baptist University Flag of the United States.svg University of Houston
Flag of Canada (Pantone).svg University of New Brunswick
Flag of Hong Kong.svg Hong Kong Baptist University Flag of Spain.svg Charles III University of Madrid
2009 Flag of Singapore.svg Nanyang Technological University Flag of the United States.svg Yale University
Flag of Brazil.svg Fundação Getulio Vargas
Flag of Singapore.svg Nanyang Technological University Flag of Ireland.svg University College Cork
2010 Flag of the Philippines.svg University of the Philippines Diliman Flag of the United States.svg Brigham Young University
Flag of the United States.svg Fordham University
Flag of the Philippines.svg University of the Philippines Diliman Flag of South Africa.svg University of Cape Town
2011 Flag of Italy.svg Polytechnic University of Milan Flag of the United States.svg University of Southern California
Flag of the United States.svg Rutgers University
Flag of Thailand.svg Thammasat University Flag of Italy.svg Polytechnic University of Milan
2012 Flag of Thailand.svg Thammasat University Flag of the United States.svg Illinois Institute of Technology
Flag of the United States.svg Rutgers University
Flag of Thailand.svg Thammasat University Flag of Sweden.svg Stockholm School of Economics
2013 Flag of Poland.svg Wroclaw University of Economics Flag of the United States.svg University of Nevada, Las Vegas
Flag of the United States.svg Fordham University
Flag of India.svg Narsee Monjee Institute of Management Studies Flag of Poland.svg Wroclaw University of Economics
2014 Flag of the Philippines.svg University of the Philippines Diliman Flag of the United States.svg University of Missouri Flag of the Philippines.svg University of the Philippines Diliman Flag of Italy.svg Polytechnic University of Milan
2015 Flag of the United States.svg Canisius College Flag of the United States.svg Canisius College
Flag of the United States.svg University of Florida
Flag of the Philippines.svg Ateneo de Manila University Flag of Ukraine.svg Kyiv National Economic University
2016 Flag of Canada (Pantone).svg University of Waterloo Flag of Canada (Pantone).svg University of Waterloo
Flag of the United States.svg University of Georgia
Flag of the Philippines.svg Ateneo de Manila University Flag of Italy.svg Polytechnic University of Milan
2017 Flag of the Dominican Republic.svg Barna Business School Flag of the Dominican Republic.svg Barna Business School
Flag of the United States.svg Seton Hall University
Flag of Singapore.svg Singapore Management University Flag of Norway.svg BI Norwegian Business School
2018 Flag of Switzerland (Pantone).svg University of Lausanne Flag of the United States.svg Jacksonville University
Flag of the United States.svg University of Minnesota Duluth
Flag of Malaysia.svg Sunway University Flag of Norway.svg BI Norwegian Business School
Flag of Switzerland (Pantone).svg University of Lausanne
2019 Flag of the Philippines.svg Ateneo de Manila University Flag of the United States.svg Canisius College
Flag of Mexico.svg Instituto Tecnológico Autónomo de México
Flag of the Philippines.svg Ateneo de Manila University Flag of Russia.svg Moscow State University
Flag of Switzerland (Pantone).svg University of Lausanne
2020 Flag of Australia (converted).svg University of Sydney Flag of the United States.svg Seton Hall University
Flag of Brazil.svg Universidade de São Paulo
Flag of Australia (converted).svg University of Sydney Flag of Norway.svg BI Norwegian Business School
Flag of Switzerland (Pantone).svg University of Lausanne
2021 Flag of Norway.svg BI Norwegian Business School Flag of Canada (Pantone).svg University of Waterloo
Flag of the United States.svg Appalachian State University
Flag of Australia (converted).svg University of Sydney Flag of Norway.svg BI Norwegian Business School
Flag of Germany.svg WHU – Otto Beisheim School of Management
2022 Flag of the United States.svg Northern Illinois University Flag of Canada (Pantone).svg University of British Columbia
Flag of the United States.svg Northern Illinois University
Flag of Australia (converted).svg University of Sydney Flag of Spain.svg IE Business School
Flag of Italy.svg Polytechnic University of Milan
2023 Flag of Australia (converted).svg University of Sydney Flag of the United States.svg California Polytechnic State University
Flag of the United States.svg California State University, Fullerton
Flag of Indonesia.svg University of Indonesia
Flag of Australia (converted).svg University of Sydney
Flag of Italy.svg Polytechnic University of Milan
Flag of Switzerland (Pantone).svg University of Neuchatel
2024 Flag of Canada (Pantone).svg University of Waterloo Flag of Canada (Pantone).svg University of Waterloo
Flag of Brazil.svg Fundação Getulio Vargas
Flag of Australia (converted).svg Australian National University
Flag of the Philippines.svg University of the Philippines Diliman
Flag of Qatar.svg Qatar University
Flag of Germany.svg WHU – Otto Beisheim School of Management
2025 Flag of Poland.svg Kozminski University Flag of Canada (Pantone).svg University of Waterloo
Flag of the United States.svg Appalachian State University
Flag of Australia (converted).svg University of Sydney
Flag of Hong Kong.svg University of Hong Kong
Flag of Poland.svg Kozminski University
Flag of Switzerland (Pantone).svg University of Neuchâtel

Ranking

Winning Teams
RankCountryGold medal icon.svg Global ChampionSilver medal icon.svg Regional Champion
1Flag of the United States (23px).png  United States 327
2Flag of the Philippines.svg  Philippines 36
3Flag of Australia (converted).svg  Australia
Flag of Canada (Pantone).svg  Canada
26
3Flag of Poland.svg  Poland 22
4Flag of Italy.svg  Italy
Flag of Switzerland (Pantone).svg  Switzerland
15
5Flag of Norway.svg  Norway 14
6Flag of Hong Kong.svg  Hong Kong 13
6Flag of Singapore.svg  Singapore
Flag of Thailand.svg  Thailand
12
7Flag of the Dominican Republic.svg  Dominican Republic 11
8Flag of Brazil.svg  Brazil 03
9Flag of Germany.svg  Germany
Flag of Spain.svg  Spain
02
10Flag of India.svg  India
Flag of Indonesia.svg  Indonesia
Flag of Ireland.svg  Ireland
Flag of Malaysia 23px.svg  Malaysia
Flag of Mexico.svg  Mexico
Flag of Qatar.svg  Qatar
Flag of Russia.svg  Russia
Flag of South Africa.svg  South Africa
Flag of Sweden.svg  Sweden
Flag of Ukraine.svg  Ukraine
01

See also

References

  1. Barber, Joel. "Intercollegiate Case CompetitionsThe CFA Institute Research Challenge". FIU Business. Florida International University. Retrieved 4 August 2019.
  2. "Waterloo Students Demonstrate Financial Savviness at CFA Institute Research Challenge Local Competition". Markets Insider. Insider Inc. 21 February 2018. Retrieved 4 August 2019.
  3. "Millsaps business students take top honors at challenge". The Northside Sun. Retrieved 7 July 2019.
  4. "Bloomberg for Education and CFA Institute Launch CFAPRO Database". Markets Insider. Bloomberg. Retrieved 7 July 2019.
  5. Comtois, James (April 2, 2018). "CFA Institute crowns 2 teams at its Americas regional". Pionline.com. Crain Communications. Retrieved 7 July 2019.
  6. "How CFA Research Challenge Preps Next Generation of Financial Analysts". Bloomberg. Bell Media. 24 April 2018. Retrieved 4 August 2019.
  7. "Research Challenge". CFA Institute. CFA Institute. Retrieved 6 July 2019.
  8. "Big Challenge, Big Opportunity". CFA Institute. Retrieved 6 July 2019.
  9. "Ateneo students win 2019 CFA Institute Research Challenge Global Finals". Rappler. May 4, 2019. Retrieved 7 July 2019.
  10. Azhar, Nour (October 30, 2017). "CFA Research Challenge: 'Future guardians' off to Seoul". Investment Magazine. Retrieved 7 July 2019.
  11. "Big Challenge, Big Opportunity". CFA Institute. Retrieved 6 July 2019.
  12. "Bloomberg for Education and CFA Institute Launch CFAPRO Database". MarketWatch. MarketWatch, Inc. 30 January 2018. Retrieved 4 August 2019.
  13. "businesswire". PGIM supports career development with CFA Institute Global Research Challenge sponsorship. Business Wire, Inc. Retrieved 14 July 2020.
  14. "CFA Institute Research Challenge Official Rules". CFA Institute. Retrieved 28 November 2019.
  15. "Past Research Challenge Champions". CFA Institute. Retrieved 7 July 2019.