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A team of UWA Business School students has claimed first place in the local round of the CFA Institute Research Challenge.

Mathew Bunny, Joseph Mikhail, Zarjnt Spire, Henry Ryan and Brandon Hayward completed an analysis of Fortescue Metals Group (FMG), presenting a detailed report with a buy, sell or hold recommendation.

The students were required to present and defend their thesis to a panel of industry judges comprising Jason Chesters, CFA (Paterson Securities), Nicki Ivory, CFA (Deloitte Corporate Finance) and Claire Mortoni, CFA (Wesfarmers Business Development).

In the next stage of the competition, the UWA team will travel to the Philippines to take part in the regional level competition in March 2015.

The opportunity to gain insight into the finance industry, say the students, was a valuable part of the competition.

"[The competition] gave us first-hand experience of what work as an equity analyst would entail and an insight into the differing roles within finance, especially in the investment sphere," the team said.

"A great help and privilege was working with our mentor, Rob Huth, CFA, Research Director at Viburnum Funds.

"His guidance and advice not only helped us win but also encouraged our members to complete the CFA and enter a career in private equity.

"For many of us it was the first time we had created a valuation model and research report at such a high level. We were given access to Bloomberg's financial data terminal, which provided us with an invaluable opportunity to utilise a tool that is widely used in the finance industry."

The winning team are now focusing their efforts on improving the delivery of their presentation and sell recommendation before the regional round of competition next March.

Another team of UWA students was awarded second place.

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis.

Students work in teams to research and analyse a publicly traded company - sometimes even meeting face-to-face with company management. Each team produces an initiation-of-coverage report on their assigned company with a buy, sell, or hold recommendation and may be asked to present and defend their thesis to a panel of industry veterans.

Media references

Verity Chia (UWA Business School)                                                (+61 8) 6488 1346
Karen Della Torre (UWA Business School)                                         (+61 8) 6488 8538