Research Challenge
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About the Competition

The CFA Institute Research Challenge was introduced to a global audience in 2006 and is considered, “the investment Olympics” for university students.  In only thirteen years, almost 29,000 plus students have participated in the competition and learned best practices in equity analysis, report writing, and presentation skills.

CFA Society India (IAIP) has been hosting the event for several years and it has been very well received across business schools, students and the investment management and finance community. Participation to this competition is by invitation only and is extended to a select set of leading business schools in India.

This 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 equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis. It complements students’ university curriculum by simulating the ‘real world’ experience of an equity analyst.


Competition Structure & Format

The Research Challenge is a competition in which student teams research an assigned publicly traded company from an equity investment perspective, write an equity research report and present their report and findings to an esteemed panel of investment industry experts.

Format of the competition for the CFA Institute Research challenge

Zonal Rounds: We have a two-tier competition Zonal and National. Teams shortlisted based on their reports, present their analysis to high-profile panels of experts from top financial institutions at the Zonal Finals. The country has been divided into 4 zones. Click here to know your zone

National Finals: Top two teams from each zone will advance to compete in the National Finals of the CFA Institute Research Challenge.

Asia Pacific Regional: Three teams from the National Finals will represent India and compete in the Asia Pacific Regional Investment Research Challenge.

Global Final: The competition will culminate with the Global final of the Annual CFA Institute Research Challenge®. The Global Challenge consists of the winners of the regional finals held in Asia-Pacific, Europe and Americas Regional.

Support & Guidance

The students will get support and constant guidance from members of CFA Society India through the assignment of an Equity Research Analyst or Portfolio Manager as a mentor.

All domestic travel expenses are borne by CFA Society India (IAIP) and International travel expenses will be borne by CFA Institute, USA.



Please find here the Official Rules for the Challenge .You may also view student’s testimonial, presentations from last year’s winning team, event photos and other details at our website


For Further Details

For all future updates / announcements, please email at  and log on to Please call us at +91 75070 97841 to know more about the challenge.