Friday, 15 February 2013

NMIMS (Mum) and IIFT (Delhi) emerge winners

NMIMS Mumbai and IIFT Delhi win the coveted CFA Institute Research Challenge India Finals

Mumbai, India, 11 February 2013 – At the India national finale of the CFA Institute Research Challenge held in Mumbai, Narsee Monjee Institute of Management Studies, Mumbai (NMIMS Mumbai) and Indian Institute of Foreign Trade, Delhi (IIFT Delhi) emerged as winners to represent the country in the Asia Pacific regional final of CFA Institute Research Challenge. More than 40 leading business schools participated in this year's Indian rounds (

CFA Institute, the global association of investment professionals worldwide, and its member society Indian Association of Investment Professionals (IAIP) hosted the local rounds of the competition in India. This is part of an annual, global educational initiative to promote the best practices in equity research amongst the next generation of analysts. The India competitions were supported by National Stock Exchange (NSE) (, Bloomberg (, Bloomberg TV (, and Corporate Bridge ( as sponsors and long-term corporate partners.  

Mr. Sunil Singhania, CFA, Head - Equity Investments, Reliance Capital Asset Management Ltd., and President of IAIP, said, “We are pleased with the successful culmination of the CFA Institute Research Challenge India final. This is a unique initiative to promote best practices in equity research and investment analysis among the next generation of analysts.”

Mr. Namit Arora, CFA, Director - Standard Chartered Private Equity and Director of IAIP, said, “The collective and sustained effort to help enhance the quality of future investment professionals has been well supported by investment industry professionals who served as judges, team mentors and graders; as well as our partners including NSE, Bloomberg, Bloomberg TV and Corporate Bridge. We thank them for their continued support and enthusiastic participation.”

The zonal competitions over the past six months culminated in the National finale hosted by Bloomberg at their office. Five zonal teams from the West, South, North, Central and East zones emerged as local winners after grueling competitions amongst more than 40 leading business schools of the country. The teams presented their research reports and equity recommendations on HDFC Bank, Infosys, Cairn India, Cadila Healthcare, and McLeod Russell to a distinguished panel of judges at the India national finale.

NMIMS Mumbai and IIFT Delhi won the national finale, and are representing India at the Asia Pacific regional final during February 22-23 in Kuala Lumpur. The panel comprised of Mr. Bharat Shah, Executive Director, ASK Investment Holdings; Mr. Prasun Gajri, CFA, Chief Investment Officer, HDFC Life; Mr. Nirmal Jain, Founder and Chairman, India Infoline; and Mr. Saurabh Mukherjea, CFA, Head of Equities, Ambit Capital. In addition, the India national finale was followed by an enlightening panel discussion on the topic “Outlook for Indian Equity Markets – 2013” amongst the esteemed investment management practitioners.


About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behaviour in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 113,000 members in 140 countries and territories, including 102,000 CFA charterholders, and 137 member societies. Follow CFA Institute on website; Facebook; Twitter; and Sina Weibo
About Indian Association of Investment Professionals (IAIP)

Indian Association of Investment Professionals (IAIP) is an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors, and other finance professionals. As one of 137 CFA Institute member societies, IAIP connects members to a global network of investment professionals. IAIP promotes ethical and professional standards within the investment industry, facilitates the exchange of information and opinions among people within the local investment community and works to further the public’s understanding of the CFA designation and investment industry. IAIP is headquartered in Mumbai and was established in April 2005. For more information, visit IAIP website (
About CFA Institute Research Challenge

The CFA Institute Research Challenge aims to provide university students with an unparalleled experience of working with investment industry professionals and publicly traded companies to produce an equity research report, as well as to promote the best practices in research among the next generation of analysts. Each participating team was mentored by an experienced practitioner or a CFA charterholder. All participants were introduced and held to the CFA Institute Code of Ethics and Standards of Professional Conduct. Each university was represented by a team of students who undertook review of a public company comprising of detailed interactions with senior executives at companies, investment thesis and risks analysis, financial modeling, valuation, comparable benchmarking, scenario creation and writing a detailed equity research report and presentation around all these aspects.

The CFA Institute Research Challenge is a global competition which tests the analytic, valuation, report writing, and presentation skills of university students. Students have the unique opportunity to develop and present an equity research report and be mentored and judged by leading industry experts. Local CFA Institute member societies host and launch local competitions involving teams of three to five business and finance students from participating universities who work directly with a local company in researching and preparing a company analysis. The local winning teams will advance to the respective regional finals held in Asia Pacific; Europe, Middle East & Africa; Americas; and New York regions. The regional winners will then advance to the global final in the hopes of being crowned the global champion.

To learn more about the CFA Institute Research Challenge in India, follow us on the website; Twitter @iaipchallenge; Facebook/iaipirc


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