Schedule for Research Challenge Benelux (2024-2025):
- 1st week of October 2024 (TBA); kick-off where students and mentors from interested universities are invited and the company to be researched is announced.
- Two weeks after kick off (TBA); Deadline for participating universities to register their teams
- Mid November 2024 (TBA); Company day; This event offers students the one opportunity to ask questions to the representative of the company investigated (Aalberts N.V.). They will receive tips and tricks and listen to a presentation on ESG, and the student teams will participate in an investment game.
- Mid January 2025 (TBA): deadline for submitting research reports
- Early February 2025 (TBA): announcement of 3 local finalists on the basis of the reports
- End of February 2025 (TBA): Benelux Finals at Euronext, where the finalists will present their reports in front of a jury that will then put them to the test.
Sub-Regional dates:
- Early March 2025: Local Champions Receive Sub-Regional Instructions/kick-off
- Mid March 2025: Teams Submit Sub-Regional Presentations recordings
- Early April 2025: Sub-Regional Announcements (The winning teams from each sub-regional competition advance to the regional competition)
Regional and Global Final Dates (for the 2023 / 2024 competition)
- April 2025: EMEA Semifinals
- April 2025: EMEA Final (format will be confirmed at a later date)
- May 2025: Global Final
The local events up to the Benelux Finals are organised and hosted by CFA Society Netherlands. The sub-regional, regional, and global competitions are hosted by CFA Institute.
Participating Universities 2023 - 2024
- Erasmus School of Economics (2 teams)
- Rotterdam School of Management,
- HAN University of Applied Sciences (2 teams),
- ICHEC Brussels Management School
- Amsterdam Business School
- University of Groningen (2 teams),
- University of Leuven (KU Leuven)
- Utrecht School of Economics
- University of Liège
- Universite de Bruxelles – Solvey Busines School
- University of Luxembourg (2 teams)
- Al Akhawayn University
Utrecht School of Economics wins CFA Institute Research Challenge 2024 Benelux Finals!
This year’s Research Challenge was among our most successful competitions in history in terms of its reach. We started with 16 teams participating, including first-time participants Utrecht University and Al Akhawayn University in Ifrane (Morocco). Given the number of participants, we opted to expand the number of finalists to 4 teams, and given how tight the range of report grades was, we are happy we did!
Every year we try to challenge students when it comes to business complexity, and Aalberts was no exception, with several only somewhat-related businesses under one umbrella. Significant differences in these segments made the analysis challenging – understanding addressable markets, future competitive positioning, margin and cash flow generation – and test management team’s ambitious plans in the process – would be a tall task even for a seasoned equity analyst.
The reports quality was particularly good this year, and 4 finalists – Rotterdam School of Management (RSM), ICHEC-Louvain School of Management, Amsterdam Business School (ABS), and Utrecht School of Economics (USE) – were only separated by an unprecedented 1 point! While all report grades were remarkably close, the presentations revealed one clear and unanimous winner. Team Utrecht was complimented by the judges for its compelling investment case supported by well-articulated and organized evidence. What a debut for them in the Finals!