PGIM Inc. will serve as a multiyear sponsor for the annual CFA Institute Research Challenge, which provides university students with hands-on investment and financial analysis experience.
PGIM's two-year sponsorship "is a combination of a cash donation and other support, including a dedicated website with research resources and videos, which we think is a small investment relative to the investment in future talent for our industry, said Keshav Rajagopalan, vice president and institutional client director, PGIM institutional relationship group, in an email.
PGIM is the $1.3 trillion investment management business of Prudential Financial Inc.
"At a time when so many of us are adapting to a virtual working environment, we're pleased to be offering these online resources and supporting the virtual challenge to budding investment professionals around the world," added Mr. Rajagopalan, who is based in PGIM's Newark, N.J., headquarters.
More than 6,000 analysts and CFA Program candidates, which include college students or those starting their careers, will compete in the global research challenge and present their best investment case for a chosen stock, a news release from PGIM said.
Due to the coronavirus pandemic, all of this year's competitions will take place virtually, the news release said. The global finals will occur April 22.
All finalists will receive CFA exam scholarships and networking opportunities with industry luminaries, while the global winners will also receive a $10,000 prize, said Stephen Horan, managing director-Americas at the CFA Institute, in an email.
"The competition is a real proving ground for these highly motivated students who must demonstrate their ability to value a stock, write a research report, and present their recommendation before panels of investment professionals," Mr. Horan said. "From the top five teams from across Asia-Pacific, EMEA and the Americas, one global winner emerges."