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Universidad Carlos III de Madrid (UC3M) Wins European Leg of CFA Institute Global Investment Research Challenge

London, April 18, 2008 − Universidad Carlos III de Madrid (UC3M) has won the European leg of the annual Global Investment Research Challenge for university students in Europe, Asia Pacific, and North America by beating off competition from London Business School and Università Commerciale Luigi Bocconi, Milan.

The three teams were competing in the European final of the competition, hosted by CFA Institute and the CFA Society of the UK (CFA UK), and will now face teams from across the world in the global final in New York May 1.

Each of the European finalists underwent a lengthy selection process to get this far, which included participating in national heats in their own country. The UK heat involved Imperial College London − Tanaka Business School, University of Stirling, University of Reading, University of Leicester and University of Exeter.

This new educational competition involves over 300 students from 80 business schools and universities worldwide. Each competing team had to write and present an equity research report on a publicly listed company under the guidance of industry mentors. The reports were then presented to a judging panel of experts.

The Global Investment Research Challenge is part of the CFA Institute effort to pass on principles of best practice and highest standards of professional and ethical conduct to the future of the industry through hands-on support and intensive training in company analysis by industry mentors. It also enables students to present themselves to potential employers through showcasing their attributes and skills.

The panel of industry experts included:

• Nitin Mehta, managing director (EMEA), CFA Institute
• Paul Smiddy, head of retail research, HSBC
• Michael O’Brien, CFA, head of European institutional business, Barclays Global Investors
• Nina de Martinis, CFA, senior portfolio manager, equities (emerging markets), Credit Agricole Asset Management

"Investment analysis sits at the heart of the economy so it is vital the next generation of budding analysts come through showing the quality of skill and aptitude to be able to put capital to good use in creating wealth and prosperity," said Nitin Mehta, CFA Institute managing director (EMEA).  "If the students we have seen participating in the competition are a representative sample of the talent entering the industry then we should have little fear despite the responsibility they will carry. We wish Carlos III the very best of luck in the global final and look forward to seeing them bring home the winners’ trophy to our region."

The 2008 Global Investment Research Challenge will culminate in the global final May 1 in New York where the winner of the European regional challenge will compete against the winners of the Asia Pacific and North American regional challenges.

CFA Institute
CFA Institute is the global membership association that administers the Chartered Financial Analyst® (CFA®) and Certificate in Investment Performance Measurement (CIPM) curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 94,000 members, who include the world’s 82,000 CFA charterholders, in 133 countries and territories, as well as 135 affiliated professional societies in 56 countries and territories. More information may be found at www.cfainstitute.org. (Bloomberg users can find CFA Institute at 497458Z.)

CFA Society of the UK (CFA UK)
CFA UK was created in November 2007 following the members’ decision to vote to change its name from the UK Society of Investment Professionals (UKSIP). The society has over 7,000 individual members. CFA UK is one of the largest member societies of CFA Institute. CFA UK is committed to the promotion of high standards of professional conduct through the adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct and Advocacy. The Society also supports other industry standard-setting initiatives such as the Global Investment Performance Standards (GIPS) and the move towards International Financial Reporting Standards. CFA UK is a leading society in the global network of CFA Institute and influences thinking on the evolution of the CFA examinations and other CFA Institute activities, notably those of its European Advocacy Committee. CFA UK is a volunteer-led organisation, and relies on its members to contribute their time to support its operations and strategic direction. A strong volunteer effort is therefore a key ingredient of the Society's progress, and CFA UK is committed to delivering services and products to its growing and diverse membership. More information about CFA UK may be found at www.cfauk.org.