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We are delighted to announce that the winner of this year’s local CFA Research Challenge is the team from the Faculty of Economics, University of Niš.

Our warmest congratulations go to the winning team members — 𝐌𝐚𝐫𝐤𝐨 𝐕𝐞𝐥𝐢č𝐤𝐨𝐯𝐢ć, 𝐌𝐢𝐥𝐢𝐜𝐚 𝐑𝐚𝐝𝐢𝐯𝐨𝐣𝐞𝐯𝐢ć, and 𝐄𝐥𝐞𝐧𝐚 𝐕𝐮č𝐢ć. These talented young professionals represent the future of our industry, and we are confident they will play an important role in shaping it in the years to come. We would also like to express our sincere appreciation to their exceptional mentors, Jelena Z. Stanković and 𝐍𝐢𝐤𝐨𝐥𝐚 𝐏𝐚𝐧𝐭𝐢ć, whose dedication and commitment continue to deliver outstanding results year after year.

We extend our congratulations as well to the second-place team from FEFA Faculty, together with their excellent mentors Ivana Todorovic, CFA, PhD and Vladimir Pavlovic, PhD, CFA, for an impressive performance and a well-deserved result.

Both teams demonstrated an exceptional level of commitment, effort, and dedication, truly proving that only the brave move forward.

We would also like to extend our sincere thanks to the panel of graders and judges Nina Milenkovic, CFA, Danijela Mirkov-Arkula, CFA, MSc (Oxon), Alexey Rodimov, FCCA, CFA, Ilija Protic, CFA, whose rigorous evaluations, insightful comments, and thoughtful feedback were essential in determining the final outcome of the competition.

We would like to take this opportunity to thank Natasa Djorovic Bijanic, CFA, our Vice President, who, in her role as host of 𝐂𝐅𝐀 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞, set an exceptionally high standard.

Our sincere thanks also go to our sponsor EY, Marko Tosic, Ivana Gelevski for their continued support and for recognizing the value of investing in young talent and being part of a truly global initiative.

Last but certainly not least, we would like to thank our dedicated volunteers, Stefana Stošić, Valerija Gajić, Marijana Marjanović, Mila Marić, Marko Simovic whose commitment and hard work made it possible to deliver this competition at such a high professional level.

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