Research Challenge 2019

After five months of research on this year’s subject company Axfood. Thursday the 21st of February saw the three finalist teams; Linköping University, Lund University and Jönköping University, in the 2019 Swedish IRC final present their recommendation and target price on Axfood.

Linköping University’s written report impressed the graders. The judges, Thomas Brodin (Cliens), Fredrik Ahlin (If), Nicklas Skogman (Handelsbanken Capital Markets) and Andreas Brock (Coeli) were equally convinced by the team’s SELL recommendation. The team gave a very professional presentation supported by robust financial analysis and conclusions.

Linköping University was represented by Erik Almgren, Eric Olsson, Carl Gustafson, Karim Sabbagh and Fredrik Kronström. The team was mentored by Mark Shay (Accendo Capital) and had guidance from their faculty advisor Öystein Fredriksen, Senior Lecturer.

The Board of CFA Sweden would like to thank all the volunteers that made this year’s challenge a great success: mentors, graders, judges, Cecilia Ketels at Axfood. A big thank you goes out to the challenge sponsors; Handelsbanken, FactSet and Kaplan Schweser.

Linköping University will participate in the EMEA regional final in Zürich on April 10-11 and possibly also in the global final in New York on April 25.

Participating teams came from:

  • Linköping University
  • Lund University
  • Jönköping University
  • Mälardalen University
  • University West​

About Research Challenge:

The CFA Institute RESEARCH CHALLENGE offers students the unique opportunity to learn from leading industry experts and compete with peers from the world’s top finance and business programs. This annual educational initiative promotes best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills. The challenge gathers students, investment professionals, publicly traded companies and corporate sponsors together locally for a real world competition on a global scale.


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