RSM finance students advance to EMEA final in investment competition

Finance students from Rotterdam School of Management, Erasmus University (RSM) won the CFA Institute Research Challenge’s local final for business schools in Belgium, the Netherlands and Luxemburg (Benelux) on 18 February 2016. The team will now advance to the next level of the world’s leading investment research competition, which will take place in Chicago in April.

The global CFA Institute Research Challenge is an annual competition that provides university students with hands-on mentoring and intensive training in financial analysis, organised by CFA Institute, a global association of investment professionals. Student teams are expected to match their wits, analytical skills and presentation abilities against student teams from around the world. The competition advances from local competitions to three regional finals, and ultimately the global final.

Equity recommendations

For the Benelux final, teams had to present their analysis and buy-sell-hold recommendations for Biocartis, an innovative commercial stage molecular diagnostics company. The RSM team competed against student teams from HEC-Management School of the University of Liège, RSM, Vlerick Business School, ICHEC Brussel, Luxembourg School of Finance, UC Louvain, University of Amsterdam, University of Antwerp, Tilburg University, University of Groningen, University of Maastricht, and VU Amsterdam.

The RSM team members are students and recent graduates from RSM’s MSc in Finance & Investments programme: Anton Chausovskyy (Ukrainian), Daria Belenkova (Canadian), Fabio Proietto (Italian), Michael Enninghorst (German), and Sheldon Arcand Laliberte (Canadian).

Ultimately, the RSM team competed against the finalist teams from Tilburg University, Vlerick Business School, and VU Amsterdam during the Benelux final, which took place in Amsterdam on 18 February. Each team had 10 minutes to pitch their equity report recommendation on the stock to three judges, and then 10 minutes to answer their questions.

Months of investment research

The team’s presentation at the local final in Amsterdam was the culmination of months of research; interviews with company management, competitors, and clients; and presentation training. “Becoming Benelux champions was only one stop of our journey. Becoming global champions will be our final destination,” said Michael Enninghorst. “We’ve already overcome numerous obstacles that pave our road and we’ll also be able to overcome the others.”

The team will compete in the EMEA regional finals in Chicago, USA on Wednesday 13 April 2016, where it will compete against universities from Europe, the Middle East and Africa. The global final will take place in Chicago during that same week.

More information

Rotterdam School of Management, Erasmus University (RSM) is one of Europe’s leading business schools, and ranked among the top three for research. RSM provides ground-breaking research and education furthering excellence in all aspects of management and is based in the international port city of Rotterdam – a vital nexus of business, logistics and trade. RSM’s primary focus is on developing business leaders with international careers who carry their innovative mindset into a sustainable future thanks to a first-class range of bachelor, master, MBA, PhD and executive programmes. RSM also has offices in Chengdu, China, and Taipei, Taiwan.

For more information on RSM or on this release, please contact Marianne Schouten, Media & Public Relations Manager for RSM, on +31 10 408 2877 or by email at

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