Kiwibank is extending its commitment to developing financial literacy by taking up the sponsorship of the New Zealand finals of an international competition for universities, the CFA Institute Research Challenge. Teams compete for prestigious international award for financial analysis and research.

The New Zealand competition is hosted by the CFA Society of New Zealand.

New Zealand universities are fielding seven teams in the competition. They are being offered a unique opportunity to develop and present an equity research report, which will be judged by industry practitioners. The teams will be writing their report on Fletcher Building, the second largest company in the NZX.

The teams are competing to win a place at the regional final in Kuala Lumpur in February 2013. The successful regional team will go on to compete in the Global Final, to be held in London in April 2013.

The global competition, which runs until April 2013, is expected to attract 3,300 students and 750 universities in nearly 60 countries.

Stuart Bremner, General Manager Wealth and Insurance Kiwibank, said “Kiwibank welcome the opportunity to sponsor this event which is aimed at promoting best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills.

“With teams from University of Auckland, AUT University, Massey University, University of Canterbury, University of Otago, University of Waikato and Victoria University of Wellington we anticipate a great competition. It’s a great opportunity to meet and mentor the investment managers and analysts of the future."

Rhiannon McKinnon, Vice President of the CFA Society of New Zealand, who organizes the event, said:

“We are delighted to have Kiwibank sponsor this event which is an exciting opportunity for students to experience “real life analysis”, putting theory learnt in the classroom into practice, and presenting to a panel of leading fund managers in New Zealand."

For further information:
Bruce Thompson, Communications Manager, Kiwibank: (04)460 6831