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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

Studies to reveal correlation between terrain, energy use, and giraffe locomotion
2016-11-18



More than half of giraffes in captivity in Europe are afflicted by lameness. This high prevalence represents an important welfare issue, similar to other large zoo animals.

According to Dr Chris Basu, a veterinarian at the Royal Veterinary College in the UK, giraffes in captivity are often afflicted by overgrown hooves, laminitis and joint problems. Diagnosis and treatment is limited by our understanding of anatomy and function, more specifically the locomotion of these animals. Although the giraffe is such a well-known and iconic animal, relatively little has been studied about their locomotor behaviour.

Dr Basu recently visited South Africa to do fieldwork on the locomotion of giraffes as part of his PhD studies under the mentorship of world-renowned Professor of Evolutionary Biomechanics, Prof John Hutchinson. This project is a joint venture between Dr Basu and Dr Francois Deacon, researcher in the Department of Animal, Wildlife, and Grassland Sciences at the UFS. Dr Deacon is a specialist in giraffe habitat-related research. 

Together Prof Hutchinson and Drs Deacon and Basu form a research group, working on studies about giraffe locomotion.

Wild giraffe population decrease by 40% in past decade

“Locomotion is one of the most common animal behaviours and comes with a significant daily energetic cost. Studying locomotion of wild animals aids us in making estimates of this energetic cost. Such estimates are useful in understanding how giraffes fit into ecosystems. Future conservation efforts will be influenced by knowledge of the energy demands in giraffes.

“Understanding aspects of giraffe locomotion also helps us to understand the relationships between anatomy, function and evolution. This is relevant to our basic understanding of the natural world, as well as to conservation and veterinary issues,” said Dr Deacon.

Locomotion study brings strategy for specialist foot care

On face value it seems as if foot disease pathologies are more common in zoo giraffes than in wild giraffes. “However, we need a good sample of data from both populations to prove this assumption,” said Dr Basu. 

This phenomenon is not well understood at the moment, but it’s thought that diet, substrate (e.g. concrete, straw, sand and grass) and genetics play a part in foot disease in giraffes. “Understanding how the feet are mechanically loaded during common activities (standing, walking, running) gives our research group ideas of where the highest strains occur, and later how these can be reduced through corrective foot trimming,” said Dr Basu.

Through the studies on giraffe locomotion, the research group plans to devise strategies for corrective foot trimming. At the moment, foot trimming is done with the best evidence available, which is extrapolation from closely related animals such as cattle. “But we know that giraffes’ specialist anatomy will likely demand specialist foot care,” Dr Basu said.

Studying giraffes in smaller versus larger spaces

The research group has begun to study the biomechanics of giraffe walking by looking at the kinematics (the movement) and the kinetics (the forces involved in movement) during walking strides. For this he studied adult giraffes at three zoological parks in the UK. 

However, due to the close proximity of fencing and buildings, it is not practical to study fast speeds in a zoo setting. 

A setting such as the Willem Pretorius Nature Reserve, near Ventersburg in the Free State, Kwaggafontein Nature Reserve, near Colesberg in the Karoo, and the Woodland Hills Wildlife Estate in Bloemfontein are all ideal for studying crucial aspects such as “faster than walking” speeds and gaits to measure key parameters (such as stride length, step frequency and stride duration). These studies are important to understand how giraffe form and function are adapted to their full range of locomotor behaviours. It also helps to comprehend the limits on athletic capacity in giraffes and how these compare to other animals. 

Drones open up unique opportunities for studying giraffes

The increasing availability of unmanned aerial vehicles (UAVs)/drones opens up unique opportunities for studying locomotion in animals like giraffes. Cameras mounted onto remotely controlled UAVs are a straightforward way to obtain high-quality video footage of giraffes while they run at different speeds.

“Using two UAVs, we have collected high definition slow motion video footage of galloping giraffes from three locations in the Free State. We have also collected detailed information about the terrain that the giraffes walked and ran across. From this we have created 3D maps of the ground. These maps will be used to examine the preferred terrain types for giraffes, and to see how different terrains affect their locomotion and energy use,” said Dr Deacon.

“The raw data (videos) will be digitised to obtain the stride parameters and limb angles of the animals. Later this will be combined with anatomical data and an estimation of limb forces to estimate the power output of the limbs and how that changes between different terrains,” said Dr Basu.


Related articles:

23 August 2016: Research on locomotion of giraffes valuable for conservation of this species
9 March 2016:Giraffe research broadcast on National Geographic channel
18 Sept 2015 Researchers reach out across continents in giraffe research
29 May 2015: Researchers international leaders in satellite tracking in the wildlife environment

 

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