Last night American University of Sharjah became the first UAE national investment research challenge champions. Hosted by CFA Emirates, the association for financial and investment professionals, the competition is set to become a major event in the annual education calendar amongst the country’s leading business and finance schools.
Each student on the winning team will be enrolled onto the CFA Program and registered for their first exam, a prize equivalent to over US$5,000 in total.
An estimated 60 people attended the final at the Jumeirah Emirates Towers Hotel with four leading UAE Universities taking part. This included the American University of Dubai, the University of Dubai, the University of Wollongong in Dubai and the American University of Sharjah. Each sent a team of around five undergraduate students, all of whom are studying business investment and finance.
The successful team, which included Maitha Qayed, Ali Shekofti, Abdulla Al-Hajeri and Arsalan Shahid Afridi, presented and defended an equity research report on DP World. Over the past few months the Universities have all been coached by a number of leading industry professional analysts on researching a publicly traded company. Each team then had to write a research report. Last night they undertook the final stage of the competition by presenting their results and recommendations to a high profile panel of independent judges. This included Mr Deon Vernooy, Senior Executive Officer at Emirates NBD Asset Management Ltd, Mr Ashok Talukdar, and Assistant Advisor for Treasury in the Evaluation & follow up department at the Abu Dhabi Investment Authority (ADIA), Mr Redwan Ahmed, Industrial Analyst at EFG Hermes as well as Mr. Yacoub H. Nuseibeh, CFA Emirates President.
Marks were awarded to each team on the basis of their investment case, their delivery and their ability to answer and respond to detailed analysis from the panel.
In presenting the winning trophy to the American University of Sharjah, Mr. Nuseibeh of CFA Emirates said: “CFA Emirates is committed to helping to develop and maintain the very best international investment standards and professionalism in the UAE, which leads the region as a financial and investment centre. Education is an important part of this support, starting with those Universities that are training the financial analysts of the future.”
He added: “Congratulations to the American University of Sharjah. The quality of work presented by each team was very high. We want to thank all the students, their teachers and Universities for doing so well and for taking part. The success of this year’s national competition will lead to the UAE’s full participation in the next Global Investment Research Challenge hosted by CFA Institute in 2011. In this instance the winner of the national competition will represent the UAE at a Europe, Middle East and Africa (EMEA) regional final in Spain, and, if successful, at the global international final. It’s an exciting and fascinating opportunity for anyone interested in the world of finance and investment.”
The Global Investment Research Challenge was set up in 2002 by the New York Society of Security Analysts (NYSSA) – a member society of CFA Institute – to promote best practice in research among the next generation of financial analysts and to provide students with an insight into the investment industry. Its success in less than three years can be measured by the 1500 students from 250 universities from 36 countries who have since taken part. Now entering its fourth year, the event continues to grow with national competitions taking place in more countries than ever before.
