New Alternative Investment Designation Unveiled

October 21, 2002 ( - Two investment groups are partnering to sponsor a new Chartered Alternative Investment Analyst (CAIA) professional designation.

The Alternative Investment Management Association (AIMA) and the Center for International Securities and Derivatives Markets (CISDM) – a nonprofit research and education center at the University of Massachusetts-Amherst, say the new designation will demonstrate a person’s understanding of alternative investments.

The CAIA exams cover traditional alternative investments such as real estate, private equity and commodity investment as well as more modern alternative investment vehicles including hedge funds and managed futures

The CAIA designation is offered through the Chartered Alternative Investment Analyst Association and registration for the 2003 CAIA exams will start on November 3, 2002.  

Meeting CAIA Requirements

Obtaining the CAIA designation requires:

  • passage of two CAIA exams
  • a bachelor’s or equivalent degree
  • fulfilling the CAIA’s membership requirements
  • applying concurrently for membership in the CAIA Association.  

CAIA holders will also be required to show evidence of periodic efforts to further their education in the traditional and alternative investment areas, the announcement said.

The exam curriculum has been determined by a separate exam committee.   The exams will be administered at proctored testing centers around the world. Information on the testing centers will be  made available online in November 2003.  

Study guides as well as necessary study materials are currently available.   Online review courses, approved by the CAIA Association, will be available starting in December 2002, the announcement said.