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12 November 2021 | Story Leonie Bolleurs | Photo Supplied
The group that went through to the finals of the CFA Institute Research Challenge, was from the left: Jan Hendrik Grobbelaar; Frans Benecke, Dr Ivan van der Merwe, Sacha Bourquin, and Johann Schlebusch.

Due to their knowledge and skills, charter holders are in high demand in the finance industry. A Chartered Financial Analyst (CFA) qualification sets extremely high standards of integrity and excellence, and these professionals are thus highly sought after in the investment management industry.

Dr Ivan van der Merwe, Lecturer in the Department of Economics and Finance at the University of the Free State (UFS), says the CFA Society South Africa recently (27 October) hosted the 13th annual local edition of the CFA Institute Research Challenge. “This research challenge is an annual global competition in equity research presented by the CFA Institute, which is the global representative body for CFA charter holders.”

Exceptional performance 

In a very competitive university challenge, one of the two UFS teams that entered made it through to the regional finals, along with one team each from the University of Johannesburg (UJ), the University of Stellenbosch Business School (USB), and the University of Cape Town (UCT).

Besides having the opportunity to compete with the best, the research challenge also offered students the chance to learn from leading industry experts on how to perform in-depth company analysis and to present their findings,” says Dr Van der Merwe. 

He explains that during this challenge, students had to assume the role of a sell-side research analyst and were scored by a CFA judging panel on their ability to value a specific company – Impala Platinum in this case. They had to write a concise report that covered various aspects related to the company’s business activities, structure, governance, finances, etc., after which they had to present their recommendation in terms of buying or selling the company. In addition, finalists also had to make a formal presentation via Zoom to a panel of judges from the CFA Society South Africa, where they had to justify their valuation by answering several questions posed by the judges. 

“Although the team from USB won the finals, it was still an exceptional performance for the UFS to make it to the top four teams in the country,” states Dr Van der Merwe.

Mentored by the best

Selection of the two teams of four members each representing the UFS during the 2021 challenge was based on the students’ performance during the first semester of their BCom Honours (specialisation in Financial Economics and Investment Management) in the Department of Economics and Finance.

Once selected to enter the competition, the team members were coached by an industry mentor as well as a faculty adviser. 

Dr Van der Merwe, who was the team’s adviser, says, “I was very impressed with the dedication that this group showed during the competition. It took many days and even some sleepless nights for them to produce an impressive final product within a short period.”

He believes the experience they gained during this challenge will stand them in good stead. “To successfully complete a very stressful live presentation and subsequent question session was a confidence builder for the teams. They made us proud and will inspire future Finance students at the UFS to follow in their footsteps.”

Winners of the regionals will proceed to participate in the international final, which is, according to Dr Van der Merwe, an extremely prestigious achievement, since more than 1 000 universities compete annually.  

News Archive

Water research aids decision making on national level
2015-05-25

Photo: Leonie Bolleurs

With water being a valuable and scarce resource in the central regions of South Africa, it is no wonder that the UFS has large interdisciplinary research projects focusing on the conservation of water, as well as the sustainable use of this essential element.

The hydropedology research of Prof Pieter le Roux from the Department of Soil, Crop and Climate Sciences and his team at the UFS focuses on Blue water. Blue water is of critical importance to global health as it is cleared by the soil and stored underground for slow release in marshes, rivers, and deep groundwater. The release of this water bridges the droughts between showers and rain seasons and can stretch over several months and even years. The principles established by Prof Le Roux, now finds application in ecohydrology, urban hydrology, forestry hydrology, and hydrological modelling.

The Department of Agricultural Economics is busy with three research projects for the Water Research Commission of South Africa, with an estimated total budget of R7 million. Prof Henry Jordaan from this department is conducting research on the water footprint of selected field and forage crops, and the food products derived from these crops. The aim is to assess the impact of producing the food products on the scarce freshwater resource to inform policy makers, water managers and water users towards the sustainable use of freshwater for food production.

With his research, Prof Bennie Grové, also from this department, focuses on economically optimising water and electricity use in irrigated agriculture. The first project aims to optimise the adoption of technology for irrigation practices and irrigation system should water allocations to farmers were to be decreased in a catchment because of insufficient freshwater supplies to meet the increasing demand due to the requirements of population growth, economic development and the environment.

In another project, Prof Grové aims to economically evaluate alternative electricity management strategies such as optimally designed irrigation systems and the adoption of new technology to mitigate the substantial increase in electricity costs that puts the profitability of irrigation farming under severe pressure.

Marinda Avenant and her team in the Centre for Environmental Management (CEM), has been involved in the biomonitoring of the Free State rivers, including the Caledon, Modder Riet and part of the Orange River, since 1999. Researchers from the CEM regularly measures the present state of the water quality, algae, riparian vegetation, macro-invertebrates and fish communities in these rivers in order to detect degradation in ecosystem integrity (health).

The CEM has recently completed a project where an interactive vulnerability map and screening-level monitoring protocol for assessing the potential environmental impact of unconventional gas mining by means of hydraulic fracturing was developed. These tools will aid decision making at national level by providing information on the environment’s vulnerability to unconventional gas mining.

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