Greatness Happens Here

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 and then write a research report on their assigned company with a buy, sell, or hold recommendation.

Each Research Challenge season leverages the efforts of over 150 CFA member societies, 3,500 volunteers, and more than 6,000 students from over 1,000 universities.

The sub-regional, regional, and global competitions are hosted by CFA Institute in the Americas; Asia Pacific; and Europe, Middle East, and Africa regions. The winning teams from each regional competition advance to the Global Final, where one team emerges as the global champion of the CFA Institute Research Challenge.

View the Official Rules

How It Works

Local CFA® Societies work with universities to assemble teams of three to five undergraduate and/or graduate students. Teams research and analyze a designated publicly traded company; prepare a written report on that company that supports a buy, sell, or hold recommendation; receive advice and support from a faculty advisor and an industry mentor; and present and defend their findings to a panel of industry experts. Winners from the local competitions advance to sub-regional competitions, then on to regional competitions in the Americas, Asia Pacific, and Europe, Middle East, and Africa, culminating in a global final.