CFA Institute Research Challenge
Objective
The CFA Institute Research Challenge is an annual global equity research competition designed to give university students hands-on mentoring and intensive training in financial analysis, equity valuation, and professional ethics as they take on the role of research analysts.
Description
Overview
The CFA Institute Research Challenge is an annual global competition in which university-sponsored teams research a designated publicly traded company, prepare a written equity research report, and present their findings and stock recommendation to a panel of investment industry judges.
Who can participate
- Full-time university students (undergraduate or graduate) at participating universities
- Students must not hold the CFA charter and generally may not have competed in a prior Research Challenge season
Team composition
- Teams of 3 to 5 students, guided by a Faculty Advisor and supported by an Industry Mentor
Format and rounds
- Local level (organized by CFA Institute member societies)
- Sub-regional level
- Regional Semifinal
- Regional Final
- Global Final, where one team is named global champion
Notable details
- Teams are scored on both a written report and an oral presentation/Q&A before industry judges
- Held for over 20 years, engaging thousands of students and over 1,000 universities worldwide each season
- The 2025-2026 Global Final was held in Hong Kong SAR in May 2026, won by a University of Waterloo team
February 01, 2026
Private
Business School
Finance
International
Management
researchchallenge@cfainstitute.org
CFA Institute, CFA Institute Member Societies (local host societies worldwide)
Global Champion: USD 10,000 scholarship awarded to the winning team's university, to be used for students' educational expenses