January 2007
- Conference of Note: Alternative Investments & Absolute Return Strategies for Institutional Investors
Director's Comments
As we put the final touches on our plans for CAIA in 2007, I find
myself once again experiencing that anxious,
butterflies-in-the-stomach feeling one gets before the start of any
new challenge or adventure, that "so much to do,
can't wait to begin" sense of urgency.
The beginning of a New Year is always an emotional time -
rife with uncertainty yet full of great hopes and aspirations. We
develop strategies and resolutions designed to meet the lofty goals we
set for ourselves, all in the never-ending quest to better ourselves
and our lot.
Like many of you, we at the CAIA Association have taken the opportunity
afforded by this annual event to take stock of where we are and where
we're headed. We've aimed high in 2007
with initiatives designed to advance our curriculum, improve the
examination process, support our international chapters, enhance
functionality of our newly designed website, increase our public
outreach and expand our personnel.
As you begin working on your new year's resolutions, whether
personal or professional, we wish you the best of luck for a happy,
healthy, and successful 2007.
Best regards,
E. Craig Asche
Executive Director
March
2007 Exam: Two Weeks Remaining to Register!
If you're considering sitting for the March 2007 exams, take
note: registration for
the March 2007 exam period closes Jan. 29!*
Exam Appointment
Scheduling: CAIA candidates who have not yet
scheduled an exam appointment are encouraged to do so as soon as
possible. All exams are scheduled directly through Pearson VUE. If you
encounter any scheduling difficulties, please contact Pearson VUE
immediately.
Curriculum Readings: Level I Candidates please note: If you have NOT purchased Investments by Bodie Kane and Marcus, please note that two editions are now available. Make sure you purchase the 6th edition! The Level I Study Guide references the 6th edition ONLY (007293414X). Visit the readings list for the correct ISBN numbers for all current curriculum readings.
Registration for the next exam period (September 10 - 21) opens early April 2007.
*Registration closes on Jan. 29th. Late registrations are not accepted.
September
2007 Curriculum
Update
In the June 2006 Newsletter we announced that the next generation of the CAIA Program will represent a new, more AI-intensive curriculum. Many of you have asked what specific changes to look for, and we are now able to satisfy this question. The traditional investment material formerly covered in the first ten Level I topics has been replaced by twelve topics covering advanced quantitative materials from Hedge Funds: Quantitative Insights by Francois Serge Lhabitant.
As of the close of the March 2007 exams, all traditional investments material will be considered prerequisite knowledge for Level I CAIA candidates. To assist professionals considering pursuing the CAIA designation, we will be offering a Prerequiste Diagnostic Test (available in Spring 2007).
Changes in the Level II curriculum include a new private equity text: "Beyond the J-Curve: Managing a Portfolio of Venture Capital and Private Equity Funds" by Thomas Meyer and Pierre-Yves Mathonet. Additionally, the CAIA Level II Integrated Topics has been updated with a number of new readings.
New study guides for the September 07 exams will be released once registration for the exam period opens in April.
Staff Profile: Director of Examinations Nelson J. Lacey, PhD., CFA
From the very beginning of our existence, one individual has held responsibility for the CAIA examinations - Professor Nelson Lacey of the University of Massachusetts Amherst. In addition to leading the Advisory Board, he works with a team of academics and practitioners to craft the exam questions, ensure the accuracy and facility of the testing process, score the examinations, and review the process at all points to achieve the central goal: a rigorous and fair examination.
Click here to learn more about this central figure within the CAIA Association.
Featured Article from the Journal of Alternative Investments: "Are Alternatives the Next Bubble?"
In conjunction with
Institutional Investor Journals, we are proud to offer you
access to a featured article from
the latest edition of the Journal of Alternative Investments, the
official journal
of the
Asia Research Award Winner Announced
The CAIA congratulates Professor Melvyn Teo, 2006 recipient of the AIMA INSEAD Research Award for Asian Alternative Investments. The award, sponsored by the CAIA Association, recognizes excellence in research on the development of hedge funds and alternative investments throughout Asia.
The 2006 Research Award is a key part of a collective effort to stimulate technical innovation and increase understanding of the rapidly growing financial marketplace in Singapore and throughout Asia.
The winning paper, "The Geography of Hedge Funds", can be downloaded from the CAIA website. The press release announcing Professor Teo's award is also available in our News section.
CAIA Events for 2007
Over the past year, we've traveled all around the world meeting our candidates and membership, and many of you from the alternative investment sphere who are considering pursuing this designation. The reaction was so positive, that we've decided to continue the tradition. We'll be visiting 14 cities in 2007, and invite you to register for a presentation in your area or tell a colleague about this opportunity today!
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To see the full list, check out the CAIA events list.
Conference of Note: Alternative Investments & Absolute Return Strategies for Institutional Investors
Thursday, February 8, 2007
The Suites at One King West
Austin Gallery
Toronto, Ontario
Canada
Join CAIA members Pierre Saint Laurent and Christopher Holt at this
educational conference for AI professionals involved or interested in
Canadian markets. This CAIA-endorsed Mindpath educational
conference will address the apparent underrepresentation of alternative
investments in Canadian Plan Sponsor portfolios as well as present a
series of morning discussion panels with industry experts in Private
Equity, Real Estate and Hedge Funds.
Mindpath's Alternative Investments Conference brings together leading industry experts, analysts and investment managers in a format designed to maximize the learning experience for attendees. Stay on top of the latest developments in alternative investing through this highly interactive educational conference, designed for:
● Institutional Investors
● Plan Sponsors
● Pension Fund Managers
● Pension Fund Committee Members
● Family Offices
● Foundation & Endowment Organizations
● Insurance Industry Investment Executives
● Pension Fund Consultants