AMHERST, Mass. (HedgeWorld.com)–The Chartered Alternative Investment Analyst Association is set to double once again the number of registrants for its exam for the CAIA designation.
Craig Asche, executive director for the association, said that 1,200 registered for the group’s February exam, which is just 200 shy of the total number of registrants the group had in 2005. He expects 2,800 professionals will complete a CAIA exam this year.
“The organization has grown in lock-step with the industry,” said Mr. Asche. “We’ve doubled the number of registrants as our name is gaining acceptance by institutional investors.”
Institutions like the fund of hedge funds Pacific Alternative Asset Management Company are requiring staff to take the course and pass the exam, while other hedge fund firms and service providers to the industry are adding the curriculum to their own internal training programs.
Even some of the staff at the Securities and Exchange Commission has entered the program as part of training within the Office of Compliance, Inspections and Examinations.
By the end of 2006, Mr. Asche expects that close to 1,000 individuals will have completed the certificate program that has grown internationally, with association chapters springing up in London, Zurich, Geneva, Singapore and Hong Kong.
Growing interest is due to the endowment and pension funds that have taken increased stakes in the hedge fund industry. Investment consultants and others in institutional money management industry have looked to the CAIA designation has a source of assurance that an individual has completed standardized course work in the area of alternatives.