11 January 2023

2023 Bourstad Challenge: the registration period for the 36th edition is open!

From February 13 to April 14, 2023, novice and seasoned investors will have the opportunity to participate in the 2023 Bourstad Challenge and will be vying for $35,000 in prizes.


The Bourstad Challenge is held online (www.bourstad.ca) and welcomes high school, CEGEP and community college students, and participants from the general public, including university students. The 36th edition of the Bourstad Challenge will be held under the honorary presidency of Ms. Odrée Ducharme, CFA, Chair of the Board of Directors of CFA Montréal. The 2023 Bourstad Challenge jury will be chaired by Ms. Cathy Sleiman, Senior Manager for Eastern Canada, TD Direct Investing.

Participants in the 2023 Bourstad Challenge will manage a $200,000 virtual portfolio and invest this amount by choosing securities from a selection of 700 real securities listed on stock markets. There are three components to the Challenge: financial performance, portfolio management and socially responsible investing. The most successful participants will be honoured at the awards ceremony to be held in May 2023.

Bourstad simulations use a very innovative platform: real-time transactions, daily dividend payments, mobile device compatibility, etc. This platform was developed with financial assistance from the Investment Industry Regulatory Organization of Canada (IIROC).


To further support the Challenge’s participants and their teachers, CIRANO is again offering a series of webinars this year in which its experts will cover these topics: the basics of investing in the stock market, portfolio management, sustainable investing and ESG factors, the challenges and opportunities of supply chain management, and career choices in the financial sector.


«CIRANO and its partners offer a wide range of resources on www.bourstad.ca that allow all participants to learn about how financial markets work and to develop their knowledge and skills in saving and investing. It’s always a win-win proposition to participate in the Bourstad Challenge!» says Paul Bourget, Bourstad’s project director.


«The integration of ESG considerations into investment decisions has become a must for all players in the financial sector. The Bourstad financial education program, which is part of CIRANO’s economic and financial literacy projects, has been a pioneer in this movement by rewarding participants who excel in responsible investment since the 2005 edition. This initiative helps improve the knowledge and skills in economics and finance of young people and the general public. Great success at this 36th edition of the Bourstad Challenge and thanks to our partners.»  Nathalie de Marcellis-Warin, President and CEO of CIRANO


« I am delighted to be the honorary president of the new edition of this competition, which allows to discover the workings of portfolio management in a concrete way. For CFA Montréal, which represents more than 3,200 investment management professionals, Bourstad is a unique platform for reaching the next generation. This competition is also a great opportunity to introduce young women to the profession, in order to increase female representation in our field. Thus, among the four scholarships that we will award again this year, two will be granted to female students. I would like to thank CIRANO for contributing to the financial education of Quebec students, to whom we wish good luck in developing their investment strategy! »

Odrée Ducharme, CFA, Managing director, strategy and execution, fund investments and external managers, Caisse de dépôt et placement du Québec (CDPQ), Chair of the Board of Directors, CFA Montréal, and Honorary President of the 2023 BOURSTAD Challenge


The Bourstad program is a financial education activity of CIRANO supported by many partners: l’Autorité des marchés financiers, son partenaire principal, le Groupe Banque TD, l’Organisme canadien de réglementation du commerce des valeurs mobilières, CFA Montréal, le Journal Les affaires, Finance Montréal, le Groupe TMX, Hyprasoft, Croesus, QuoteMedia et le Groupe Investissement responsable.


During the 2021–2022 school year, this financial education program reached more than 11,500 participants, including nearly 2,400 participants in the 2022 Bourstad Challenge.