| 03 May 2010 |
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American University of Sharjah wins CFA Emirates inaugural UAE National Investment Research Challenge
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Four leading universities battle to become the UAE's first national champion
Abu Dhabi/Dubai, United Arab Emirates, 03rd May, 2010 - Last night American University of SharjahAmerican University of Sharjah
became the first UAE national investment research challenge champions. Hosted by CFA Emirates, the association for financial and investment professionals, the competition is set to become a major event in the annual education calendar amongst the country's leading business and finance schools.Each student on the winning team will be enrolled onto the CFA Program and registered for their first exam, a prize equivalent to over US$5,000 in total.
An estimated 60 people attended the final at the Jumeirah Emirates Towers Hotel with four leading UAE Universities taking part. This included the American University of Dubai, the University of Dubai, the University of Wollongong in Dubai and the American University of SharjahAmerican University of Sharjah. Each sent a team of around five undergraduate students, all of whom are studying business investment and finance.
The successful team, which included Maitha Qayed, Ali Shekofti, Abdulla Al-Hajeri and Arsalan Shahid Afridi, presented and defended an equity research report on DP World. Over the past few months the Universities have all been coached by a number of leading industry professional analysts on researching a publicly traded company. Each team then had to write a research report. Last night they undertook the final stage of the competition by presenting their results and recommendations to a high profile panel of independent judges. This included Mr Deon Vernooy, Senior Executive Officer at Emirates NBD Asset Management Ltd, Mr Ashok Talukdar, and Assistant Advisor for Treasury in the Evaluation & follow up department at the Abu Dhabi Investment Authority (ADIA), Mr Redwan Ahmed, Industrial Analyst at EFG Hermes as well as Mr. Yacoub H. Nuseibeh, CFA Emirates President.
Marks were awarded to each team on the basis of their investment case, their delivery and their ability to answer and respond to detailed analysis from the panel.
In presenting the winning trophy to the American University of SharjahAmerican University of Sharjah
, Mr. Nuseibeh of CFA Emirates said: "CFA Emirates is committed to helping to develop and maintain the very best international investment standards and professionalism in the UAE, which leads the region as a financial and investment centre. Education is an important part of this support, starting with those Universities that are training the financial analysts of the future."He added: "Congratulations to the American University of SharjahAmerican University of Sharjah. The quality of work presented by each team was very high. We want to thank all the students, their teachers and Universities for doing so well and for taking part. The success of this year's national competition will lead to the UAE's full participation in the next Global Investment Research Challenge hosted by CFA Institute in 2011. In this instance the winner of the national competition will represent the UAE at a Europe, Middle East and Africa (EMEA) regional final in Spain, and, if successful, at the global international final. It's an exciting and fascinating opportunity for anyone interested in the world of finance and investment."
The Global Investment Research Challenge was set up in 2002 by the New York Society of Security Analysts (NYSSA) - a member society of CFA Institute - to promote best practice in research among the next generation of financial analysts and to provide students with an insight into the investment industry. Its success in less than three years can be measured by the 1500 students from 250 universities from 36 countries who have since taken part. Now entering its fourth year, the event continues to grow with national competitions taking place in more countries than ever before. For more information please see www.membersocieties.org/uae
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About CFA Emirates
The CFA Emirates Society is an association of local investment professionals consisting of portfolio managers, investment advisors, educators and other financial professionals. With 426 members, CFA Emirates is the largest member society in the GCC region comprising over half of the total number of CFA charter holders in the Gulf. The society also represents a majority of the 4,773 candidates from the region who took the CFA exams in 2009. With CFA membership in the GCC anticipated to double over the next decade, a significant share of this growth is expected to be in the UAE.
About CFA Institute
CFA Institute is the global association for investment professionals. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has nearly 100,000 members, who include the world's 90,000 CFA charterholders, as well as 136 affiliated professional societies in 57 countries and territories. More information may be found at www.cfainstitute.org
Media Contacts
For and on behalf of CFA Institute in the GCC and Middle East
arcus Pepperell/Vadia Rai @ FD
T: +971 (0)4 332 8832
Marcus.pepperell@fd.com / vadia.rai@fd.com
CFA Institute
Steve Wellard / Sarah‐Jane Purvis (Europe, Middle East, Africa)
T: + 44 (20) 7531‐0755 / 0766
steve.wellard@cfainstitute.org / sarahjane.purvis@cfainstitute.org
© Press Release 2010
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