1. Global Investment Research Challenge Where opportunity favors the prepared mind…

2. The Purpose Teach best and ethical practices in equity research through a real-world experience to the next generation of investment professionals.

3. What is it? Worldwide Intercollegiate Competition between teams of students. Students compete on: 1.Sell-Side Research Report of a publicly traded company 2.Professional presentation to an expert panel of judges

4. Key Components Mentoring by an industry professional Interview company management Write a sell side equity research report Present to a panel of expert judges Perform corporate analysis Form team of 3-5 students

5. Sample Report

6. 2011 Tournament Diagram 75 LOCAL SOCIETY INVESTMENT RESEARCH CHALLENGES 16 Teams Asia Pacific Regional 14 Teams EMEA Regional 45 Teams Americas Regional 16 Teams New York Regional Global IRC Finals

7. 2011 Timeline Asia-Pacific Regional Final 22 February 2011, Bali, Indonesia EMEA Regional Final 3 March 2011, Madrid, Spain Americas Regional Final 7 April 2011, Omaha, Nebraska 5th Annual Global Challenge Final 8 April 2011, Omaha, Nebraska

8. Media Exposure

9. Benefits Learn best practices in research and report writing Real-life learning experience as a Sell-Side Equity Analyst Gain access and exposure to leading industry professionals Professional report and experience can be featured on resume/CV and on job interviews Experience presenting to top financial professionals Individual and team prizes Opportunity for travel (all expenses paid) Potential for media exposure (local, national, and global) Join a network of over 2500 students and 1000 volunteers worldwide

10. The Student Experience “Candid feedback from mentors, graders, and judges helped me to understand the industry” “It was a thrill to open the NYSE!” “It was an honor to win US$10,000 for my university” Understanding : “opportunity favors the prepared mind” “My sell-side research report opened doors to a fantastic internship” “I was offered a job in the investment industry where jobs are difficult to find.”

11. Student Testimonial “I found the IRC to be an invaluable, real-life prep for job interviews. I interviewed with an equity research firm while working on the report and the interviewers were amazed at my level of exposure as a student. I was extended an offer, based without a doubt, on my participation in the Global IRC. I highly recommend the Investment Research Challenge to students who are interested in a career in finance.” – Steve Catera, Rutgers University, 2009 Global IRC Participant

12. Global Investment Research Challenge Developing the next generation of investment professionals For information on the Global IRC: Website: www.globalinvestmentresearchchallenge.org www.globalinvestmentresearchchallenge.org Email: irc@cfainstitute.org