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 analyse a publicly traded company.  Teams write a research report on their assigned company with a buy, sell, or hold recommendation and may be asked to present and defend their analysis to a panel of industry professionals.

The New Zealand competition of the 2020 CFA Institute Research Challenge

This event was held on 9 October 2020, with the teams presenting to the judges online due to Covid-19.

The winning team was University of Otago who will go on to compete at the Asia Pacific Regional competition in 2021.  In second place was Auckland University of Technology  (AUT) and Massey University was third.

All eight New Zealand universities competed.  The other universities were; Lincoln University, Canterbury University, University of Waikato, University of Auckland, Victoria University of Wellington.


CFA Society New Zealand would like to extend our sincere thanks to the following people and organisations for their part in making the local Research Challenge a success:

  • Industry mentors: Tim Armour, CFA; Fiona Foster, CFA; Dean Spicer, CFA; Shenci Tang, CFA; Linda Van, CFA; Joshua Dale, CFA;  Murray Scott, CFA,  Nick Webb, CFA
  • Judges: Andrew Bolland, CFA; Chelsea Leadbetter, CFA; Stephanie Perrin, CFA
  • Career discussion panellists: Matt Henry, CFA; Craig Brown, Jeff Stangl, CFA
  • Organisers: Chelsea Leadbetter, CFA and Mia Prkusic, CFA
  • Scales Corporation; the organisation being analysed for the 2020 competition
  • Sponsors:

Above: The 2020 winning University of Otago team, pictured above (left to right);  Ben Taylor, Sam Gouverneur, Rosie Jerram, Lachie McLean, Luke Gordon 

Above:  The Massey University team presenting to the judges in 2019

Above: The 2019 participants and their supporters


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