University of Neuchatel

On the photo left to right:

Cristina Morari, Polina Zhukhovskaya, Constantin Stici, Ilinca Grumeza und Sergio López

CFA Institute Research Challenge 2023/2024 in Switzerland


Results of the Swiss Final 

15 February 2024


🥇 First place:  University of Neuchatel (advances to EMEA subregional final)

🥈 Second place: University of Zurich (advances to EMEA subregional final)

🥉 Third place: University of Lausanne



Greatness Happens Here

After a very successful 2022/2023 season, with the team from University of Neuchatel representing CFA Society Switzerland at the Global Final , we are pleased to officially launch the 2023/2024 season -  the 15th CFA Institute Research Challenge in Switzerland.

The Research Challenge is an annual competition between teams of students in preparing an investment case consisting of a detailed research report and a presentation of a listed Swiss company. The important dates are listed below.

Students will be supported by industry mentors and must present their results in front of a panel of senior investment professionals. The challenge provides students with a unique opportunity to gain first-hand experience in the investment world and to interact intensively with investment professionals and CFA charterholders.

In setting up the challenge, the CFA Society Switzerland is trying to promote best practices in equity research and company analysis. CFA Society Switzerland is a member society of CFA Institute, the largest global association of investment professionals with more than 190,000 members and more than 160 member societies. CFA Institute awards the CFA Charter, the CIPM designation and runs the Investment Foundations Program. In Switzerland, the society has more than 3,400 investment professionals as members. We are committed to leading the investment profession by setting the highest standards of ethics, education and professional excellence. 

The CFA Institute and the CFA Society Switzerland are committed to support and enhance Diversity, Equity and Inclusion efforts in a meaningful way. We recognize that this is only a first step in a global journey forward to help improve our industry’s ability to better serve our increasingly diverse society. 

The CFA Institute Research Challenge in particular encourages gender diversity in the formation of Teams and invites students, professors and universities alike to support female students participation in the Research Challenge.


Subject Company

Geberit - Swiss multinational group specialized in manufacturing and supplying sanitary parts and related systems. It is a leader in its field in Europe with a global presence through its subsidiaries.


Updates from CFA Institute

The rules of the CFA Institute Research Challenge are unchanged compared to last year. 

Important dates

  • Early August 2023: Official announcement of the Research Challenge

  • 19 September 2023: Announcement of the subject company

  • 3 October 2023: Company visit and Kick-Off (at the company, close to Zurich, in-person)

  • October 2023: Students contact their mentor (confirmation)

  • 9 October 2023, 10:00–11:00: Best Practices of ESG Analysis with Katya Wisniewski, CFA, Bank J. Safra Sarasin (Zoom)

  • 11 October 2023, 10:00–11:00: Industry fireside chat with Prof. Reto von Euw, Institute of Bulding Technology and Energy, HSLU (Teams)

  • 25 October 2023; 13:00–15:00: Financial Modeling with Johannes Post, Partner, Deal Advisory Global Head of Valuation Services, KPMG (Zoom)

  • 15 November 2023, 16:00–18:00: Conference call with a subject company (Zoom)

  • October/November/December 2023: Students work on reports

  • December 2023: Presentations within the university

  • 2 January 2024, 24:00: Report hand in for semi-finalists 

  • 31 January–1 February 2024: Presentation Skills Boot camp for semi-finalists (Univeristy of Zurich, Zurich)

  • 9 February 2024, 24:00: Presentation hand in for semi-finalists

  • 14 February 2024, afternoon: Swiss local semi-finals (Zurich)

  • 15 February 2024, afternoon: Swiss local final and Award Ceremony (Zurich)


Student resources

Students - get involved (CFA Institute)

Students - preparation page (CFA Institute)

Past Global Winners’ reports and slides

Free Resources to Succeed in the Research Challenge





CFA Institute Research Challenge Platinum Sponsor

CFA Institute Research Challenge Media Partner


Contact Us

Want to learn more about the Research Challenge? Then get in touch.