Hillsdale Investment Management Inc. and CFA Society Toronto are committed to advancing the knowledge of investment management practices through the publication of quality academic and practitioner-relevant research. Submit your research paper for a chance to receive $10,000 CAD.
Submission Requirements
All materials noted in items 1 through 3 below must be included with your online application in order for you to move forward as a participant:

  1. An Executive Summary of your Research Paper of between 1,500 and 2,000 words. Please do not include charts, formulas, graphs, or images. This Executive Summary should NOT be a cut and paste of the abstract from your Research Paper. 
  2. A Research Paper that includes:
    a) All author name(s), contact information and, where applicable, academic institution information.
    b) The date that the Research Paper was written and name or URL of any online locations where the paper may currently reside.
  3. Upon submission of your application, the applicant must provide confirmation that the paper being submitted has NOT been previously published, accepted for publication, or will be submitted for publication at the time it was submitted for this award competition.

The winning author(s) will receive a total of $10,000 CAD and be recognized through a CFA Society Toronto press release, the Society’s website, social media channels and quarterly publication, The Analyst, as well as in Hillsdale Investment Management's marketing.

Please note, if the paper submitted has multiple authors, the total amount of the award ($10,000 CAD) will be distributed equally among all contributing authors. This award is also subject to taxes and we are required to collect the necessary documents in order to process payment.

Carefully read all information below. Submissions that do not align to eligibility guidelines will not be considered for review.

  • Open to researchers globally
  • Research conducted must be related to Canadian capital markets
  • Papers can be submitted by students and professors, as well as individually or with multiple authors
  • Papers that have won awards with other organizations will not be considered
  • Papers submitted for consideration must not have been published, accepted for publication or have received extensive press coverage

Research Paper Content
Areas of research interest can include any aspect of investment management, including but not limited to:

  • Portfolio Management
  • Asset Valuation
  • Risk Management
  • ESG-related Topics

Investments can include all types of traditional and alternative investments, asset classes and investment vehicles (e.g., fixed income, equities, derivatives, etc.)

Judging Criteria
Research Papers will be judged on relevance for practitioners, innovation, and the degree to which their content can have a demonstrable impact on industry practice.

Judging of the Executive Summaries and Research Papers will be conducted by a panel of relevant industry and academic professionals selected by CFA Society Toronto.

Competition Timeline

Phase 1

Executive Summary Judging
(early July)

The first round will be completed based on the applicants' submitted Executive Summary. Executive Summaries that do not meet the specific criteria will be disqualified.

Please note in Phase 1, the review panel will not have access to the Research Papers.  As such, it is imperative that the Executive Summaries provide sufficient information for the review panel to make an informed decision.
Phase 2

Research Paper Judging

(mid-July/early August)

The highest ranked Executive Summaries will have their respective Research Papers reviewed by the judging panel.
Phase 3

Selection of Winning Research Paper


Once the highest ranked Research Paper has been selected by the judging panel, the winning author(s) will be notified by CFA Society Toronto.

If you have any questions, please feel free to contact us at:

Award Application

Click here to apply

2023 Winners

2023 Hillsdale Investment Management - CFA Society Toronto Research Award Winner

Congratulations to Steven J. Riddiough, from University of Toronto and Wei Opie, from Deakin University (Australia) on their Research Award winning submission "On the Use of Currency Forwards: Evidence from International Equity Mutual Funds".

Past Winners

See Past Winners