University of the
Philippines Diliman wins CFA Institute Research Challenge Global Final
By MARKETWIRE
June 24, 2014
MANILA, Philippines –
The University of the Philippines Diliman was declared champion of the
eighth CFA Institute Research Challenge Global Final, an annual
competition considered 'the investment Olympics' for university
students. The UP Diliman team edged out from the other finalists,
Politecnico di Milano of Italy (representing Europe, Middle East, and
Africa) and the University of Missouri, Kansas City (representing the
Americas.)
Looking through the record
history, the victory in Singapore earned UP Diliman the distinction of
being the only university to win the Global Final twice, recognizing
the world-class talent of future finance professionals in the
Philippines and the Asia-Pacific region. UP Diliman last won the
Global Final in 2010.
April Lynn Tan, CFA,
president of CFA Society Philippines said the UP Diliman team has
proven again to be solid representatives of the future of our
industry. "The team's victory is an impressive feat as over 800
universities worldwide vied to make it to the finals and brings great
honor to our country. We thank the team's mentor and teachers who
guided the team toward success. These aspiring financial professionals
are the agents of the next era of finance – one of integrity,
stewardship, and professional excellence. Through their strong
leadership, knowledge, and ethics, we can move closer toward a more
trustworthy finance industry," said Tan.
The UP team was composed of
Geoffrey Archangel Bautista, Diego Mikhail de Ocampo, Nigel Williamson
Lee, Corrine Francesca Reyes, and Miguel Alfonso Solidum and presented
a buy recommendation on Meralco and defended their recommendation
before an international panel of judges. Raymund Abara, CFA, of Vicsal
Investment Inc. served as mentor, while Professor Daniel Vincent Borja
served as faculty advisor.
"We are very honored to
share this achievement with the Philippine finance community. Our
rigorous preparation every step of the way has helped us learn what it
takes to excel in the finance profession. Financial skills are
important, but so too is adherence to the highest ethical standards,"
said Professor Borja.
Commenting on nurturing
financial professionals, Mr. Hans B. Sicat, President and CEO of the
Philippine Stock Exchange (PSE) said, "The PSE is committed to
providing continuing education to market participants and investors.
As such, it commends the CFA Institute for its efforts in supporting
the development of the next generation of financial professionals
through the Research Challenge. The future of investment research
looks even better when students are exposed to the excellence and
ethical standards observed by CFA charterholders, and the team from
the UP Diliman is to be congratulated for being the best in the
field."
The CFA Institute Research
Challenge is an annual educational initiative that promotes best
practices in equity research through hands-on mentoring and intensive
training in company analysis and presentation skills. Throughout the
course of the competition, which requires hundreds of hours of
preparation, participants receive mentoring from an industry
professional as they analyze a publicly traded company, write a
professional research report, and present their research results and
recommendations to a high-profile panel of experts. Ethics and
professional standards are at the core of the process and all
participants are held to the CFA Institute Code of Ethics and
Standards of Professional Conduct. Points are awarded to teams on the
basis of their investment case, poise, and ability to answer the
judges' questions.
CFA Institute, the global
association of investment professionals, and its over 140 member
societies worldwide including CFA Society Philippines, host local and
regional Research Challenge competitions leading up to the Global
Final, where the winning teams from the three regional finals compete.
In 2013-2014, more than 3,700 students from over 800 universities
around the world participated in the Research Challenge.
The winning team is awarded
a USD$10,000 grant for the university, and each team member receives a
scholarship for the CFA Program.