CFA Institute Research Challenge Sri Lanka 2023: the University of Sri Jayewardenepura shines
CFA Society Sri Lanka is delighted to announce that four student teams comprising promising future financial professionals have qualified as finalists in the local leg of the 16th annual CFA Institute Research Challenge held recently.
“CFA Institute Research Challenge focuses on equipping the university students with technical, writing, and presentation skills which are critical to becoming a successful finance and investment professional,” says Aruna Perera, CFA, President of CFA Society Sri Lanka. This challenge also promotes best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills.
Students were mentored by industry professionals who are also CFA charterholders. They underwent intensive training by Acuity Knowledge Partners this year as well on carrying out equity research, reporting, and arriving at a buy, hold, or sell recommendation on a publicly traded company. This year, the subject company was BPPL Holdings PLC.
The trophies to the winning team and runners-up were presented to them at the Colombo Stock Exchange and the occasion was graced by Rajeeva Bandaranaike, CEO of Colombo Stock Exchange, Aruna Perera, CFA, President of CFA Society Sri Lanka, Rashmi Paranavitane, CFA, Vice President CFA Society Sri Lanka, Travis Gomes, Chairman Candidate Outreach Committee, CFA Society Sri Lanka, Eneeshya Perera, CFA, Co-Chair Research Challenge Committee, CFA Society Sri Lanka, Aruna Alwis, CEO, CFA Society Sri Lanka, SLRC Committee members and mentors of the teams.
Eneeshya Perera, CFA, Co-Chair of the Research Challenge Committee, CFA Society Sri Lanka articulated how the response this year was overwhelming with applications received from universities across Sri Lanka. Whilst congratulating the winning team from the University of Sri Jayewardenepura, she explained how the winners will now advance to the sub-regionals. At the Sub-regional competition, Sri Lanka will compete alongside teams from Bangladesh, India, Nepal, and Pakistan. The winning teams will thereafter move on to the regionals i.e., the Asia-Pacific region. She also added that similar regional competitions are held in Europe, the Middle East, Africa, and the Americas. Following this, winning teams from each region will advance to compete at the global final competition to be crowned the ultimate winner of the CFA Institute Research Challenge 2023.
Four teams were shortlisted for the local finals which were held virtually on 27th February this year. They presented their final analysis to an eminent panel of judges; Nadika Ranasinghe, CFA, Director-Fitch Ratings Lanka Ltd, Udeeshan Jonas, CFA, Chief Strategist, CAL and Dr. Andrew Stotz, CFA, CEO, A. Stotz Investment Research, Thailand. The University of Sri Jayewardenepura Team A emerged as winners while the University of Kelaniya Team B was the runners-up. The winning team was led by Oshan Brahmanage and was accompanied by Yashan Samarakoon, Malithi Jayaratne, Hashini Siriwardena, and Mahee Silva. ‘’CFA Institute Research Challenge was a 6-month, challenging, yet, rewarding journey that we were fortunate enough to be a part of. It gave us a completely different perspective on everything we have learned thus far while further enhancing our interest in pursuing careers in the capital market. Being the Sri Lankan champions was indeed a moment of joy and satisfaction of months of hard work paying off.’’, said Oshan Brahmanage, reflecting upon his team’s experience in the competition. The team was guided and mentored by Ruwangi Mahanamahewa, the Faculty Advisor, and Tharinda Jayawardana, CFA, Industry Mentor.
This year, the initial round of the CFA Institute Research Challenge was hosted by CFA Society Sri Lanka and the presentation of trophies to the winning team and runners-up was hosted by the Colombo Stock Exchange.
Speaking on the occasion, Mr. Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange said that he is pleased to witness the talent of the students who are analytical, interpretation, and presentation skills as well as the report of this year’s subject company, BPPL Holdings PLC was outstanding and thanked CFA Institute and CFA Society Sri Lanka for organizing the research competition. Further, he noted that the young talent produced through the university system supported by CFA is an asset to developing the country’s capital markets.
The event was sponsored by the Society’s Platinum sponsor, the Colombo Stock Exchange, Silver sponsors; Acuity Partners, CAL, First Capital, NDB Capital Holdings, Senfin and Uzabase, Knowledge Partner; Acuity Knowledge Partners and event sponsor; Kaplan Schweser.
