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While the Cambridge reputation and elite academic rigor of the post-experience MFin programme truly stand out, the opportunity to undertake structured equity research and at least two more consulting engagements during the year is just as valuable. Supervised by a world-class faculty, my projects on the MFin delivered an operational understanding of clean energy finance, REITs and RegTech – new frontiers in finance that I expect to encounter in some shape or form as I advance my career.
Ronald Chua, MFin 2016

Projects are a central feature of the Cambridge Master of Finance. They enable direct contact with the practitioner client and provide the opportunity for students to apply what they've learnt in the taught programmes to real world situations and problems.

There are two compulsory and one optional project on the MFin:

Equity Research Project


In groups, students select a quoted company and produce an equity research report with a valuation, recommendation and analysis of risk. The report is designed to advise on the investment potential of that company and make an active recommendation to buy or sell shares in this company. The team presents their recommendation and analysis to a group of actual investment managers and equity analysts. Equity research is a multi-skilled activity combining financial, accounting, strategic, economic and communication skills. It is an ideal vehicle to put learning from the core courses to use

A series of workshops will be delivered in the second half of Michaelmas Term. The aim of these workshops is to provide a broader introduction to equity research/valuation/modelling and the project as a whole.

Assessment: Combination of report and presentation.

Group Consulting Project

(Easter break)

The Group Consulting Project provides a chance for students to work on a real assignment for a host company or organisation. The project offers a great opportunity to put into practice new ideas that students have encountered on the MFin, and to get experience in sectors and roles they are interested in.

Each group is assigned a faculty supervisor and a host company manager. The project takes about five weeks, including pre-planning, mostly during the Easter vacation.

Every year we have one or two projects that take place outside UK (Examples in previous years inlcude China, Hong Kong, Portugal, Abu Dhabi and Mongolia) and going forward we aim to expand the international projects we offer.

In previous years, GCPs were hosted by such companies as Abu Dhabi Islamic Bank, Amadeus Capital Partners, Barclays, BNY Mellon, Capital Generation Partners, Citibank, GIC, IMF/World Bank, and Standard and Poors.

While the MFin Office sources the client companies, we also welcome student-sourced projects.

Assessment: Presentation to client.

Optional Individual Project


This is an optional project spent working for a financial institution or completing a research dissertation. This project is deliberately flexible to accommodate the varying needs of students. Those who are starting a new job in the summer, or are returning to their previous employer may not wish to undertake this project.

The project is an opportunity to do a reasonably long and substantial piece of research of between 6,000-12,000 words. Options include doing a purely academic piece of research, doing a piece of research based on external interviews and/or other data, or doing a piece of research linked to an internship for a host organisation. The last option can be used as a device to network and interview people in any area of finance that would be useful for job-seeking. While you're a student of Cambridge University, you can request an interview of all sorts of people as part of a research project.

All students must have an academic supervisor to mark and provide guidance on the project. The supervisor must be a faculty member of the University, or an external person who is a fellow or associate of Cambridge Judge Business School. The Individual Project will be marked by the supervisor, however this mark will not be included in the overall mark for the MFin.

The Equity Research Project was an exceptional experience. We learnt not only technical valuation skills, but how to effectively work as a team and to deliver a piece of quality research in a very short period of time.
Paul Kelly, MFin 2014

MFin students work with BNY Mellon on their Group Consulting Project

Central Banks undertake a 'gradual but definite' expansion of investment activities that look beyond their traditional boundaries, says report by BNY Mellon in collaboration with MFin students.

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