Students of the Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM) once again made achievements in the national competition. The CAE Capital team, consisting of Bintang Bintara (Management 2023), Dhani Setiawan (Accounting 2023), and Fajrian Tri Rezki (Management 2023), won 3rd place in the Equity Research category at the Investment and Financial Festival of Youth 2025 (INFINITY 2025) competition. The competition was organized by the Capital Market Study Group (KSPM) of Universitas Muhammadiyah Yogyakarta and took place offline on Saturday, July 5, 2025.
A total of 43 teams from various prominent universities across Indonesia participated in the offline event, including Universitas Gadjah Mada (UGM), Universitas Indonesia (UI), Universitas Brawijaya (UB), Universitas Padjadjaran (UNPAD), Institut Teknologi Sepuluh Nopember (ITS), Universitas Diponegoro (UNDIP), Universitas Andalas (UNAND), Universitas Negeri Semarang (UNNES), Universitas Jenderal Soedirman (UNSOED), UPN Veteran Yogyakarta, UPN Veteran Jakarta, and many others. The fierce competition among these top teams made this achievement all the more significant.
The CAE Capital team stole the show with a comprehensive research approach to PT Mitra Adiperkasa Tbk (MAPI), the issuer they chose to analyze according to the committee’s requirements. The competition began with preparing an equity research paper based on predetermined aspects, ranging from macroeconomic conditions, ESG (Environmental, Social, and Governance) analysis, competitive advantages, business risks, stock valuation, and technical analysis. After going through the paper selection and assessment process, the CAE Capital team made it through to the top 10 and advanced to the beauty contest stage, a presentation session in front of the jury.
Fajrian explained that participating in this competition was a challenge in itself. The reason was that the competition coincided with the Final Semester Examination (UAS).
“We had to be smart in dividing our time between classwork and paperwork. Alhamdulillah, with solid teamwork, we could complete it with satisfactory results,” he said.
The CAE Capital team ranked first out of 43 in the paper writing category. This achievement shows the quality of in-depth research.
Fajrian said the team’s success was the result of hard work and support from the faculty. While preparing for the competition, they participated through Economia Stock Market (ESM), a capital market study community at FEB UGM that plays a vital role in providing an initial understanding of stock research.
“ESM was beneficial in shaping our research framework, from screening issuers to preparing reports. In addition, UGM also provides access to various data sources such as Statista, which is very useful for macro analysis and market data,” he explained.
This success is undoubtedly a memorable moment, especially for Fajrian Tri Rezki, who admitted that this was his first time participating in the equity research competition.
“It was a mix of nervousness and pride. But I am grateful to be able to participate in this event because I gained a lot of new knowledge and experience, especially in terms of stock research and presentation,” he said.
Report by: Orie Priscylla Mapeda Lumalan
Editor: Kurnia Ekaptiningrum
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