CFA Institute Research Challenge Sri Lanka 2023/24: University of Colombo shines

Winners: University of Colombo Team A (from left): Faculty Advisor Senani Thenuwara, Hasna Imtikhab, Melissa Ranathunga, Team Leader Manusha Kandanaarachchi, Sajini Kaushalya, Pramitha Perera and Industry Mentor Chathun Heiyanthuduwa, CFA

Runners-Up: University of Kelaniya Team B (from left): Industry Mentor Dilum Fernando, CFA, Darshana Yapa, Vinodya Sithumini, Team Leader Mechale Martis, Thisaru Amath, Pasindu Samadhith and Faculty Advisor Nethmi Herath, CFA  

CFA Society Sri Lanka President Aruna Perera, CFA

University Grants Commission Chairman Senior Prof. Sampath Amaratunge

CFA Society Sri Lanka Research Challenge Committee Chairperson Eneeshya Perera, CFA

• Recognising excellence in financial analysis

CFA Society Sri Lanka announced Team A of University of Colombo as winners of the 17th edition of the annual CFA Institute Research Challenge Sri Lanka competition; a platform that nurtures the talents of aspiring financial professionals. 

In this year’s finals, four outstanding student teams comprising teams from University of Colombo, University of Sri Jayewardenepura and two teams from University of Kelaniya showcased their prowess in financial analysis, vying for the prestigious title. Team B of University of Kelaniya emerged runners-up.

The winning team comprised of Manusha Kandanaarachchi, Sajini Kaushalya, Hasna Imtikhab, Melissa Ranathunga, and Pramitha Perera and were mentored by industry mentor, Chathun Heiyanthuduwa, CFA, and faculty advisor, Senani Thenuwara. They will now progress to the sub-regional stage, where they will compete against teams from Bangladesh, India, and Pakistan. The journey doesn’t end there; successful teams will then advance to the Asia-Pacific regionals and thereafter to the global final competition, showcasing their analytical competence on an international platform.

CFA Society Sri Lanka President Aruna Perera, CFA emphasised the significance of the CFA Institute Research Challenge in honing essential skills for budding finance and investment professionals. “The challenge serves as a crucial avenue for students to develop technical proficiency, effective writing, and presentation skills,” remarked Perera.

Each student team was mentored by experienced CFA charterholder industry professionals and guided by their respective university faculty advisors. The participating teams underwent rigorous training on equity research and analysis supported by Acuity Knowledge Partners, training on presentation skills supported by Advi Academy as well as technical analysis training supported by the Colombo Stock Exchange. This year’s subject company was hSenid Business Solutions PLC.

University Grants Commission of Sri Lanka Chairman and Chief Guest for the occasion Senior Prof. Sampath Amaratunga commended the participants for their commitment to excellence and encouraged them to continue striving for professional growth and innovation in the finance industry. Colombo Stock Exchange Chairman Dilshan Wirasekera graced the occasion as the Guest of Honour.

Research Challenge Committee Chairperson Eneeshya Perera, CFA acknowledged the overwhelming response from universities across Sri Lanka which was encouraging, stating, “We received over 20 applications this year, reflecting the growing interest and commitment of students towards advancing in the field of finance. This is encouraging as they are the backbone of the competition.”

The local finals, held at the Colombo Stock Exchange on Tuesday, 27 February saw each team presenting their comprehensive analyses to a distinguished panel of judges, comprising of Acuity Knowledge Partners Assistant Director Dr. Buddhika Fernando, CFA, KPMG Sri Lanka Head of Deal Advisory, Principal Shiluka Goonewardene, and TWCorp Ltd. Advisory Services Director Tharinda Jayawardana, CFA.

Reflecting on their journey, Manusha Kandanaarachchi, Team Leader of the winning team shared, “Participating and winning the CFA Institute Research Challenge Sri Lanka 2023/2024 was a transformative experience for me and my team. We delved deep into equity valuation complexities, honing skills and embracing industry best practices. This journey spurred significant personal and professional growth, deepening technical understanding and enhancing vital soft skills. Grateful to CFA Society Sri Lanka and the organisers of the Research Challenge for an intellectually stimulating and rewarding season. Thanks to all stakeholders for this life-changing opportunity.”

The CFA Institute Research Challenge Sri Lanka 2023/24 was hosted by CFA Society Sri Lanka and the Colombo Stock Exchange, serving as the Platinum partner for the competition.