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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]
For 2019, more than 6,100 students from over 1,150 universities from 95 countries participated in the competition. [11] [12] [13]
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]
Rank | Country | Global Champion | Regional Finalist |
---|---|---|---|
1 | United States | 3 | 26 |
2 | Philippines | 3 | 5 |
3 | Australia | 2 | 4 |
4 | Italy | 1 | 5 |
5 |
Canada Norway Switzerland |
1 | 4 |
6 |
Hong Kong Singapore Thailand |
1 | 2 |
7 |
Dominican Republic Poland |
1 | 1 |
8 |
Brazil Spain |
0 | 2 |
9 |
Germany India Indonesia Ireland Malaysia Mexico Russia South Africa Sweden Ukraine |
0 | 1 |