Research Challenge

CFA Institute Research Challenge

The CFA Institute Research Challenge is an annual global competition that connects university students with investment professionals from within the CFA Society^® network. The competition provides students with hands-on mentoring and intensive training in financial analysis and ethics and tests participants' analytical, valuation, reporting writing, and presentation skills.

Members of our society, along with a faculty advisor and an industry mentor, work with teams of students to value a stock, write a research report, and present their recommendations. Teams then compete with peers from other schools at local-level competitions organized and judged by CFA Society members and volunteers. The winning university team(s) from each local competition then advances to see who will become the sub-regional, regional, and global champions.

Learn more and read FAQs See the schedule and get involved

Is your University up to the Challenge?

The 5th Season of our CFA Institute Research Challenge officially kicks off in October 2025. Interested universities and students can indicate their commitment to participate by completing the application below or contacting us via email at [email protected] by September 30, 2025.

University Application

What It Is

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis.

How It Works

Teams (3-5 undergraduate and/or graduate students) research and analyse a designated publicly traded company; prepare a written report on that company that supports a buy, sell, or hold recommendation; receive advice and support from a faculty advisor and an industry mentor; and present and defend their findings to a panel of industry experts.

The local-level competition in Ghana is organised and judged by CFA Society Ghana members and volunteers, who serve as local hosts.

The winning university team from our local competition, along with other CFA Societies, advances to the sub-regional competition.

The sub-regional, regional, and global competitions are hosted by CFA Institute in the Americas, the Asia Pacific, and the Europe, Middle East, and Africa regions. The winning teams from each sub-regional competition advance to the regional competition. Regional winners advance to the Global Final, where one team emerges as the global champion.

Competition Schedule

Competition Timelines

Local Finals

21 February 2026 (in-person)

Sub-Regionals

The Sub-Regional Kick-Off Meeting on the 4th of March 2026. After all local competitions have been completed, local winners will receive specific instructions for recording their sub-regional presentations. Teams advancing from the sub-regionals to the regional semifinals will be announced on 26 March 2026.