The CFA Institute Research Challenge is the world’s most prestigious investment research competition which promotes ethics and best practices in investment research through hands-on mentoring and intensive training in analysis and presentation. The competition involves teams of 3-5 students from each university playing the role of real-world equity research analysts. Students are required to carry out an initiation of coverage (equity research report) on a publicly traded company with the aim of arriving at an investment recommendation to buy, sell or hold the company’s stock. As in the real world, findings from the research process are condensed into a report alongside a presentation to a respected panel of industry experts for evaluation. The purpose of the Research Challenge is to introduce students to the practical side of investment analysis and inculcate relevant skills (equity analysis, report writing and presentation) required for a career in the investment world.

In all, the overriding objective of the Research Challenge is to provide university students with valuable real-world exposure to the practice of finance to complement the theoretical framework of the university education. In addition, the competition provides university students with an opportunity to foster lifelong relationships with the finance industry as students get introduced to investment professionals as mentors, peers from other universities and companies involved with the Research Challenge. Furthermore, by working in teams and with industry mentors, the competition helps students develop critical interpersonal skills needed in the investment management industry alongside much-needed networking opportunities with finance professionals. Winners also stand the chance to undertake travel and the opportunity to win scholarships and cash prizes. In Nigeria, the Research Challenge is organized by the CFA Society of Nigeria and sponsored by Zenith Bank Plc.