Hillsdale Investment Management Inc



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.

The winner(s) will receive $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 carefully read all information below. Submissions that do not align to eligibility guidelines will not be considered for review.

  • Open to global researchers conducting research related to Canadian capital markets including both academics (e.g., professors and students) and practitioners (multiple authors per paper permitted)
  • 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

Please note: it is the responsibility of the applicant to ensure all materials being submitted to the Hillsdale Investment Management – CFA Society Toronto Research Award (the “Award”) have been submitted by the deadline date of 14 July 2023. Incomplete applications or applications that do not meet the below criteria will not be accepted. CFA Society Toronto reserves the right not to grant the  Award in a given year.

Research Paper Content and Judging Criteria
Areas of research interest for submission to the Award can include any aspect of investment management, including but not limited to portfolio management, asset valuation, risk management and 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.). 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.

Submission Requirements
All materials noted in items 1 to 3 below must be included with your online application in order for you to move forward as a participant in the 2023 adjudication activity:

  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 in your Executive Summary document. 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 and, where applicable, academic institution information; b) the date that the Research Paper was written and name/URL of any online locations where the paper may currently reside; and c) must align to requirement #3 by stating the paper has not been previously published, accepted for publishing nor submitted concurrently for publishing at the time of submission to the Award.
  3. Upon submission of application form, the applicant must provide confirmation that the paper being submitted has NOT been previously published or accepted for publication, nor will it be submitted concurrently at the time it was submitted for this award competition. 

Click here to submit your research paper.

The submission window is 13 February 2023 - 14 July 2023.

Additional Information

Adjudication Process & Application Criteria

Adjudication for both Phase 1 (Executive Summary) and Phases 2 & 3 (Research Paper) will be conducted by a panel of relevant industry and academic professionals selected by CFA Society Toronto. The phases of adjudication begin the week following the close of submissions date of 14 July 2023 11:59 pm EST.

Phase 1 (mid-July) - Executive Summary judging: 
The first round of adjudication will be completed based on the applicants' submitted Executive Summary. Executive Summaries, and as a result their associated Research Papers, 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 (late July/early August) - Research Paper judging: The highest ranked Executive Summaries will have their respective Research Papers adjudicated.

Phase 3 (mid-August) - 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.

Phase 4 (November/December/January) - Recognition of winning author(s): Promotion across Society communication channels of marketing assets.

If you have any questions, please feel free to contact us at: or 416.366.5755 x221.

2022 Award Winners

Congratulations to Saurin Patel, from the Ivey Business School at University of Western Ontario, Jung Hoon Lee from the Owen Graduate School of Business at Vanderbilt University, and Shyam Venkatesan from the Ivey Business School at University of Western Ontario on their Research Award winning submission "Outsourced Funds and Risk-Shifting: A Tale of Two Contracts".


Read more about the winning paper.

Current & Past Winners

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