UP tops Global Investment Research Challenge

MANILA, Philippines - Five business administration and accounting students from the University of the Philippines took the top prize at the recently concluded Global Investment Research Challenge (IRC) held in Hong Kong.

Raymund Li, Choerleen Solema, Jose Mari Punzalan, Pamela Li and Rachel Sison of the UP College of Business Administration fought off tough competition from Brigham Young University from the Americas region, Fordham University from New York region, and University of Cape Town from the EMEA region.

Prior to winning the global championship, UP had to hurdle competition from schools in the Philippines and then in Asia-Pacific. For the regional finals, UP bested 15 universities from China, Hong Kong, Taiwan, Indonesia, Korea, India, Japan, Malaysia, Australia, New Zealand, Pakistan, Singapore and Sri Lanka to earn the right to represent Asia-Pacific in the global finals.

The UP students’ presentation recommended that investors buy shares of the Philippines largest geothermal company, citing the upside potential of Energy Development Corp. (EDC), given its industry leadership, the country’s power supply problems, and the Renewable Energy law.

The IRC is a worldwide annual competition organized by the Chartered Financial Analyst Institute (CFAI) to provide university students with unparalleled real world experience in equity research and company analysis. Over 425 universities worldwide sent representatives to the regional competitions held in the Americas, Asia Pacific, EMEA and New York to determine the four teams that competed in the global final held in Hong Kong. The panel of judges was composed of investment industry experts from all over the world.

“Winning the Global IRC is very special for us and we are grateful for all the help and support we received throughout the process. We hope this will help raise recognition of the quality of the financial services talent in the Philippines,” said Raymund Siegfrid O. Li, team member, University of the Philippines.

Commenting on the event, John Rogers, president and CEO of CFA Institute, said: “Since its inception in 2007, the competition has gone from strength to strength, thanks to the determination and commitment of universities, students, industry professionals, and societies from across the world. This year, more than 90 CFA Institute member societies hosted local competitions, with over 425 universities and 2,000 students from many of the world’s top finance schools participating.  I was extremely impressed with the final four teams’ research and presentations and would like to applaud their skill and tenacity. We at CFA Institute hope that the experience has helped to instill ethics and best practices in what may be the next generation of investment professionals.” 

This is the first time for the Philippines to win this tough contest. The global winners from the past three years came from Nanyang Technological University in Singapore, Hong Kong Baptist University, and Babson College in Boston, USA.