Intercollegiate Case CompetitionsThe CFA Institute Research Challenge

The CFA Institute Research Challenge, an annual educational initiative, based on the Investment Research Challenge originally developed by the New York Society of Security Analysts, is designed to promote best practices in research among the next generation of analysts through hands-on mentoring and intensive training in company analysis. The Challenge complements university curriculum by simulating a ‘real world’ experience of equity analysis. 

How it works

The competition begins in local university settings.  Student teams from the top area business schools write an equity research report on an assigned company and present their findings to a panel of investment industry experts.  The winning team from the Florida Challenge advances to the North American Regional Investment Research Challenge held each spring and hosted by the CFA Institute.

The Challenge consists of the following components:

  • analysis of a public company
  • mentoring by a professional research analyst and college professor
  • submission of a written Equity Research Report
  • presentation of the equity report to a high-profile panel of experts
  • each University selects one team to compete in early September

Who can compete?

Teams consisting of 3-5 students using the following criteria:

  • both graduate and undergraduate students are eligible
  • students must be enrolled in the current term of the university they represent in the local Florida Challenge
  • students with prior work experience in fundamental company analysis are not eligible

Key takeaways

There are both personal and institutional rewards:


  • opportunity to interact with investment professionals from top firms
  • gain real-world experience in equity analysis, sell-side research report writing, and presentation skills
  • hands-on mentoring in equity management with experts from the financial industry
  • Global Challenge winners gain a significant grant for their school or university

Investment Professionals:

  • opportunity to foster and share best practices in the industry
  • promote ethical decision making to the next generation of financial professionals

Public Companies:

  • opportunity to give back to the community
  • unique opportunity to tap into local talent in the financial industry
  • gain unbiased research and opinions from student teams


  • gain international media attention, setting the university apart from other business schools
  • opportunity for faculty to interact with industry professionals locally and world-wide

Contact information

For more information, please visit the CFA Institute Research Challenge website at

To learn more about the CFA Institute Research Challenge please contact:

Prof. Mark Del Pezzo
Phone: 305-348-8459 or 2680

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