Narsee Monjee Institute of Management Studies Wins CFA Institute Research Challenge CFA Institute Promotes Ethical Financial Industry among the Next Generation

Media Contacts

Kuala Lumpur , , Malaysia, 25 February 2013

Narsee Monjee Institute of Management Studies from Mumbai, India has edged out 18 other student teams from the Asia Pacific region to win the CFA Institute Research Challenge Asia Pacific Final, making it the first Indian team to advance to the global final which will be held in London on 12 April 2013. CFA Institute Research Challenge is an annual educational initiative that promotes best practices in equity research through hands-on mentoring and intensive training in company analysis and presentation skills.

Held at the Kuala Lumpur Convention Centre from February 22-23, 19 student teams from 16 countries presented their analysis to a judging panel comprising experienced practicing professionals. Of the 19 student teams, four were shortlisted to present before an overall winner was determined.

The five students, Sahitha Abdulla, Harris Karottumangalasseri Aliyar, Dawood Manzoor Bukhari, Siddhant Anthony Johannes, and Prateek Walia, from Narsee Monjee Institute of Management Studies won with their "Sell" recommendation of HDFC Bank and each earned trophies, CFA Program scholarships, and certificates, the team will bring their university US$10,000 scholarship if they win the global final. The other three teams that presented at the final round were Tsinghua University (Beijing), Singapore Management University (Singapore), and Ateneo de Manila University (The Philippines).

Paul Smith, CFA, managing director of Asia Pacific at CFA Institute, said,  “We congratulate Narsee Monjee Institute of Management Studies for winning the CFA Institute Research Challenge Asia Pacific Final this year. This global competition provides students with valuable real-world experience in financial analysis and the opportunity to access corporate leaders and experienced analysts. The next generation of leaders in finance will be defined by the stewardship they exercise as fiduciaries and the responsibility they demonstrate. We hope the experience can improve their future career endeavors, and teach skills that build a stronger and more ethical financial industry. I look forward to their outstanding performances at the global final.”

On the win, team member Siddhant Anthony Johannes, 22, said, “It’s unbelievable! We have learnt so much from the CFA Institute Research Challenge experience. We really put in our best without any kind of expectations and the win makes all the hard work worth it.” Team Leader, Harris Karottumangalasseri Aliyar, 27, added, “We are really excited to be going to London together as a team, and are looking forward to working even harder for the Global Final!”

Introduced in 2006, CFA Institute Research Challenge is considered as “the investment Olympics” for university students. More than 10,000 students have participated. This year, more than 3,500 students and 775 universities worldwide participate in the local rounds of competition.

The 2013 CFA Institute Research Challenge Asia Pacific Final is supported by:

  • Kaplan Schweser (Regional Platinum Sponsor)
  • Fidelity (Evening Reception Sponsor and Exhibitor)
  • Stock exchanges and regulators including Hong Kong Exchanges & Clearings; Singapore Exchange; Bursa Malaysia; Colombo Stock Exchange; Securities and Exchange Commission of Sri Lanka; Securities and Exchange Commission Thailand; Indonesia Stock Exchange; and Philippines Stock Exchange;
  • Volunteers and member societies of CFA Institute; and
  • The judging panel including Elizabeth Soon, CFA, Managing Director at PineBridge Investments Asia Limited; Mohammad Shoaib, CEO of Al Meezan Investment Management Limited; Vo-Sang Xuan Vinh, CFA, Co-Founder and Partner of Bluewave Advisory Co., Ltd.; and Kevin Gin, CFA, Director at Alpha Capital

CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has over 145,000 members in 163 countries and territories, including 140,000 CFA charterholders, and 148 member societies. For more information, visit