The CFA Society Italy Fund Management Challenge (FMC) is an award-winning portfolio management competition for graduate students across Italian universities. Running over several months, the initiative tasks student teams with building and actively managing institutional portfolios to gain hands-on equity and risk management experience. The competition runs on a dedicated web platform where student teams must apply fundamental portfolio construction, stock selection techniques, and make ethical investment decisions. Every year 5 FiRM students participate in the challenge, improving their competencies in managing a financial portfolio (typically featuring 5 long and 5 short positions) sourced from mid- and large-cap stocks in Europe or the US.