About CFA Institute Research Challenge

The CFA Institute Research Challenge university competition is a great test and experience for all students who are bold enough to face it. Like any great competitions, the opportunities and rewards it offers are even greater.

This annual world-class equity research competition provides university students with hands-on mentoring and intensive training in company financial analysis. Working in teams, students will gain real-world experience as they assume the role of research analysts and are judged on their ability to value a stock, write a research report, and present their recommendations. Participating students will compete with peers from other universities to see who will become the local, regional, and global champions.

CFA Institute Research Challenge 2024-25 is Now Open for Application

How The Challenge Works

Being the local host in Hong Kong since 2005, CFA Society Hong Kong works with universities in Hong Kong and Macau to assemble teams of three to five undergraduate and/or graduate students to engage in rounds of local-level competitions. The teams research and analyze 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 in the Hong Kong Final. 

Winners from the Hong Kong Final will advance to sub-regional competitions, then on to regional competitions in Asia, culminating in a global final.

View the Fact Card and Official Rules here.

Benefits of Participation

Receive in-depth training in equity analysis, research report writing, and presentation skills

Receive hands-on mentoring

Develop your resume / CV

Network with industry professionals and peers from other universities, paving the way for career opportunities

Elevate your university’s reputation on a global scale


2023 Global Participation












CFA Societies


Local Challenges




Contributions from Industry Professionals

By joining as a mentor, grader, or judge, you play a key role in promoting the highest standards of ethics, education, and professional excellence both for the students and, ultimately, for the Society. It provides an excellent opportunity to offer guidance, direction, suggestions, and feedback to student teams participating in the challenge.

Please stay tuned for further announcements.

Sponsorship Opportunity

Sponsors’ involvement is crucial for the success of the competition.

Please email us at info@cfahk.org or +852 2521 2543.