About the Research Challenge

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis. Students work in teams to research and analyze a publicly traded company — sometimes even meeting face-to-face with company management. Each team produces an initiation-of-coverage report on their assigned company with a buy, sell, or hold recommendation and may be asked to present and defend their thesis to a panel of industry veterans.

How it Works

Research Challenge Progression  

Local Level Competitions

Local level competitions are organized and judged by Local Hosts (CFA Institute member societies and volunteers). Local Hosts are responsible for:

  • securing subject companies,
  • recruiting volunteers (such as mentors), and
  • inviting universities in their geographic region to participate.

Find out more about getting involved at the local level.

Regional and Global Level Competitions

The regional and global compeitions are hosted by CFA Institute. The winner from each local competition advances to one of the three regional competitions: in the Americas; the Asia Pacific; and the Europe, Middle East, and Africa regions.

The winner from each regional competition will advance to the Global Final, where one team will emerge as global champion of the CFA Institute Research Challenge.

View the competition bracket from the 2013-2014 Research Challenge