CFA Institute Research Challenge Sri Lanka 2024/25 Final

Winning team with Chief Guest University Grants Commission Vice Chairman Prof. K. L. Wasantha Kumara, Guest of Honour Colombo Stock Exchange Chairman Dilshan Wirasekara, CFA Institute Society Regional Director Reseena Abdullah, President Rashmi Peiris Paranavitane, CFA Industry Mentor Usama Jiffry, and CFA Faculty Advisor Sandali Sudasinghe.

Runners-up team, University of Kelaniya Team B with Colombo Stock Exchange CEO Designate Vindhya Jayasekara, CFA, CFA Society Sri Lanka Vice-President Rasanja Perera, CFA, CEO Aruna Alwis, Industry Mentor Chathun Heiyanthuduwa, CFA and Faculty Advisor Nethmi Herath, CFA 

• Two teams from the University of Kelaniya to represent Sri Lanka

CFA Society Sri Lanka is pleased to announce Team A from the University of Kelaniya as the winners of the 18th edition of the CFA Institute Research Challenge Sri Lanka. This prestigious annual competition serves as a platform to nurture the talents of aspiring financial professionals.

In this year’s finals, four outstanding teams—University of Colombo, University of Sri Jayewardenepura, and two teams from the University of Kelaniya—demonstrated their expertise in equity research and financial analysis, competing for the coveted title. 

The winning team, comprising of Salaama Sanoon (Team leader), Jithmi Gamage, Kings Karon, Liyoni Hapuarachchi and Nifal Munhim, mentored by Usama Jiffry, CFA and guided by Faculty Advisor Sandali Sudasinghe, will now advance to the sub-regional stage, competing against teams from Bangladesh, India, and Pakistan. Given the number of teams that competed in this year’s competition, the runners-up team, Team B from the University of Kelaniya will also advance to the sub-regional stage, marking a first in Sri Lanka’s history of hosting this competition. The runners-up team comprised of Ravindu Abeykoon (Team leader), Nethuni Perera, Yasas Mallawarachchi, Nethmi Athukorala and Sachintha Rajapaksha supported by Chathun Heiyanthuduwa, CFA as the Industry Mentor and Nethmi Herath, CFA as the Faculty Advisor. 

The qualifying teams will then progress to the Asia-Pacific regional round, and ultimately, the global finals (scheduled to be held in Chicago in May 2025), showcasing their analytical and research skills on an international stage.

CFA Society Sri Lanka President Rashmi Peiris Paranavitane, CFA, emphasised the significance of the CFA Institute Research Challenge in equipping students with essential skills for careers in finance and investment. “This competition is a vital avenue for students to develop technical proficiency, effective writing, and presentation skills,” she stated.

Each participating team was mentored by an experienced CFA charterholder industry professional and guided by their respective university faculty advisor. The teams underwent comprehensive training on equity research and analysis, facilitated by Acuity Knowledge Partners, presentation skills training provided by Advi Academy, and technical analysis training supported by the Colombo Stock Exchange. This year’s designated public listed company was Windforce PLC.

University Grants Commission of Sri Lanka Vice Chairman Senior Prof. Wasantha Kumara, graced the event as the Chief Guest. He commended the participants for their dedication to excellence and encouraged them to pursue continuous learning and innovation in the finance industry. Colombo Stock Exchange Chairman Dilshan Wirasekera graced the event as the Guest of Honour.

Research Challenge Committee Chair Vijith Karunaratne, CFA acknowledged the overwhelming response from universities across Sri Lanka, stating, that the society received 33 applications this year, reflecting the increasing interest and commitment of students toward advancing their careers in finance. This enthusiasm is inspiring, as these students represent the future of the industry.

The local finals, held at Cinnamon Lakeside, Colombo, on Friday, 28 February 2025, saw each team present their detailed investment case to a distinguished panel of judges, which comprised of Acuity Knowledge Partners Assistant Director Dr. Buddhika Fernando, CFA, Transaction Advisor Dhinali Peiris, CFA, and Ironwood Capital Partners Founder/Managing Partner Hiran Embuldeniya.

Reflecting on their journey, Team Leader of the winning team, Salaama Sanoon noted that “The CFA Research Challenge has been a transformative journey in which my teammates and I gained hands on exposure in equity research and valuation, while navigating the complexities of a role in finance. Emerging as champions out of 29 teams was both surreal and rewarding, and we are grateful to have been part of this experience. It has already had a profound impact on our careers, and this is just the beginning. The knowledge and insights we gained will continue to guide us as we move forward. We would like to express our sincere gratitude to CFA Society Sri Lanka and all those who made this possible.” 

The CFA Institute Research Challenge Sri Lanka 2024/25 was hosted by CFA Society Sri Lanka, with the Colombo Stock Exchange serving as the Platinum Partner for the competition.