The website for CFA Society Brazil has moved.
You will be redirected to our new site in 5 seconds.
If you aren't redirected in 5 seconds please click here
Please update your bookmarks.

CFA Society Brazil

A Member of the CFA Institute Global Network of Societies

​​​​​​Brazil CFA Institute Research Challenge 2014

The CFA Institute Research Challenge is a global competition between academic institutions, organized locally in Brazil by the CFA Society of Brazil. The 7th edition of the local challenge took place from August to November of 2014, with participation of 10 universities: FEA-USP SP, FEA-USP Ribeirão Preto, UNB - Universidade de Brasilia, UFPE - Universidade Federal de Pernambuco, Unicamp, Insper, EAESP-FGV, Mackenzie, IBMEC Belo Horizonte, PUC-RJ.

Each one of these academic institutions was represented by a team of 3 to 5 students. These teams, under the supervision of a faculty advisor, prepared an investment recommendation report about Natura S.A, which is listed on the Bovespa and was chosen by the CFA Society Brazil.

The winning team of the 7th edition of the CFA Institute Research Challenge, who will be travelling to Atlanta, Georgia, USA in the week of 17 April 2015 to compete in the regional final of the CFA Institute Research Challenge, was the Insper team.

The CFA Society Brazil would like to thank its sponsors, Thomson Reuters, LCR Capital, and Factset, the support of Kaplan, and the efforts of CFA Society Brazil's volunteers.

Related documents

Click here to access the CFA Institute Research Challenge Kit.

Click here to access the winning team's report.

Documents prepared by the finalist teams

Insper report (winning team)

FGV report

UNICAMP report

Mackenzie report


For questions, please contact us: [email protected]



Platinum sponsor:




Platinum sponsor:




 Silver Sponsor:




 Institutional Support:


Picture01 Room 1
Picture02 Room 2
Picture03 Room 3
Picture04 Room 4
Picture05 Jurors 1
Picture06 Jurors 2
Picture07 Insper
Picture08 FGV
Picture09 Mackenzie
Picture10 Unicamp
Picture11 Certificates
Picture12 Trophy
Picture13 Insper celebration