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New York City, United States 09 May 2023

A student team from the University of Sydney has been named Global Champions at the 17th annual CFA Institute Research Challenge. The global final was held in-person for the first time in 3 years, taking place at the CFA Institute “Asset and Risk Allocation: Building Resilient Portfolios for the Future” Conference in Washington, DC, on May 3rd. This year, the student teams hailed from jurisdictions around the world including the United States, Italy, Indonesia, Switzerland, and Australia.

Research Challenge participants are required to research, valuate, create a report, and present on an equity stock. This hands-on learning experience teaches the next generation of analysts the best practices and skills required for a successful career in investment analysis. The student teams are then evaluated by a panel of distinguished judges drawn from leading investment industry organizations.

Margaret Franklin, CFA, President and CEO, CFA Institute commented:

“Each year, the Research Challenge is an exciting, energizing competition that is a shining example of the great potential and determination of the next generation of investment professionals. Having the opportunity to reconvene in-person and interact with the students was a long-awaited celebration. I extend my sincere congratulations to the University of Sydney for being named the global champion, as well as all the participants in the global finals for their efforts. Their dedication and hard work is truly so inspiring.”

The winning team from University of Sydney is comprised of five students including: Patrick Mahony, Jason Shi, Andre Thomas, Rachel Wang, and Moniq Wever. The team was supported throughout the Research Challenge by their faculty advisor Quan Gan and industry mentor Mathew Kaleel. The team earned their win through their evaluation, report, presentation for a buy recommendation for Qantas Airways.

The panel of judges responsible for awarding this distinction were:

This year, more than 6,300 students from 1,100 universities around the globe participated in the Research Challenge. The global final runners-up, deemed champions in their respective regions, joined the competition in-person to compete for the title of global winner. Each team was sponsored by a local CFA Society. These teams represented:

About the CFA Institute Research Challenge

The CFA Institute Research Challenge is a global competition that tests the equity research and valuation, investment report writing, and presentation skills of university students. This annual educational initiative promotes best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills. Through the course of the competition, which requires hundreds of hours of preparation, participants receive mentoring from a professional research analyst as they analyze a publicly traded company, write a professional research report, and present their research results and recommendations to a high-profile panel of experts. Points are awarded to teams on the basis of their investment case, their poise, and their ability to answer the judges’ questions. The teams are sponsored by their local CFA Institute member society or groups of volunteers, each of which previously hosted country heats of the Challenge.

Over the past decade, the CFA Institute Research Challenge has more than doubled the number of participating students from some 3,000 participants in 2012, to more than 6,400 this year. The global winners from the past three years came from Northern Illinois University in 2022; BI Norwegian Business School, Norway 2021; The University of Sydney, Australia in 2020. Visit: http://www.cfainstitute.org/researchchallenge.

About 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 of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 190,000 CFA charterholders worldwide in more than 160 markets. CFA Institute has nine offices worldwide and 160 local societies. For more information, visit www.cfainstitute.org or follow us on Linkedin and Twitter at @CFAInstitute.

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