Investment Challenge

Competition Overview

The Investment Challenge is THIC's flagship annual program — a full-cycle equity research competition that places high school students inside the analytical process that defines institutional asset management. Participants don't simulate investing; they do it. From industry mapping to DCF modeling to live pitch delivery under institutional scrutiny, the Challenge is built on one premise: that the quality of thinking, not age, determines the quality of analysis.

THIC 2026

This year's featured subject company is...

Timeline & Key Dates

Apr 1

Registration Opens

May 5

Registration Closed

May 7

Foundations of Investment by KKP Securities

May 13

Analyzing Thai Equities by Kasikorn Asset Management

May 15

Financials and Valuation by Kasikorn Asset Management

May 19

Bloomberg Terminals and Company Visit

May 23

Featured Subject Company Announcement

June 15

Preliminary Submissions Due

June 30

Semi-finalists Announced

July 6

Subject Company Visit

Aug 1

Finals Day (Semi-finals and Finals)

Public Data Archive

2026

Applicant and Cohort Report

A Common Data Set containing our full application data, evaluation criteria, and summary of the 2026 cohort — the 40 selected teams, participating schools, and demographic breakdown of applicants accepted into the Investment Challenge.

Download

Preliminary Round Case File

The case file distributed to all cohort teams at the start of the Preliminary Round. Contains the analytical brief, company background, and submission guidelines for the equity research report and pitch deck on WHA Corporation PCL.

Download

Frequently Asked Questions

Who can participate?

The Investment Challenge is open to high school students worldwide. Teams consist of 3–5 members, at least 2 of whom must hold Thai citizenship.

How many teams are selected?

40 teams are selected for the cohort following the application period and evaluation process.

What is the featured company?

Each cycle, THIC designates a single SET-listed company as the subject of analysis. For 2026, the featured company is WHA Corporation PCL (SET: WHA).

What data sources and tools are available?

Teams are expected to source and synthesize data independently using SET filings and publicly available resources. Accepted teams also receive access to Bloomberg Anywhere Terminal for the duration of the competition.

Is there a registration fee?

There is no registration fee. Accepted teams are required to submit a confirmation deposit of ฿500, which secures their place in the cohort.

Who judges the submissions?

Submissions are evaluated by investment professionals from CFA Society Thailand and THIC's banking partners.