November 2007
- Director's
Comments
- March 2008
Exam Registration Now Open
- September
Exam Results... and Congratulations
- Pierre Saint-Laurent
to Head Canadian Chapter
- Our Newest Partner: AI News
- CAIA Association in
Asia: Final 2007 Events
- CAIA in the News
Director's Comments
As many of you are no doubt aware, several regulatory efforts are simultaneously underway that aim to broadly address hedge fund best practices. Topics under discussion include the thorniest of issues: valuation, transparency, fund governance, activism and risk management.
In the UK, Sir Andrew Large, who is spearheading this undertaking, recently released the draft UK Hedge Fund Working Group Consulting document for review and comment. Notably, the CAIA Association is mentioned as offering "one of the few programs designed exclusively for AI professionals," (part 1, page 28, section 6.5). We are honored at this inclusion and in response have provided Sir Andrew with a comprehensive document highlighting our program specifics, global reach and industry sponsorship to date.
Around the same time, we were contacted by Russell Read, CIO of CalPERS and head of the Investors' Committee reporting to the US President's Working Group (PWG). The PWG objectives are very much the same as Sir Andrew's group - to develop consensus on what constitutes hedge fund industry best practices. While Mr. Read's group approaches these questions from the investor's perspective, the Asset Managers' Committee, led by Eric Mindich, CEO of Eton Park Capital Management, takes on the manager's perspective. We will continue to send relevant documentation to both of these committees, along with our offer of further assistance.
We applaud the work of both the US and the UK working groups and believe that their success will be pivotal in determining the future of our industry. The prudence of these committees may well stave off more draconian measures that might otherwise arise in the absence of industry input. It is our hope that their proactive approach will yield reasoned and purposeful standards that avoid the pitfalls of unnecessary inefficiencies and duplication across regulatory regions. We have all borne witness to what can happen when regulation is hastily implemented.
This is a unique opportunity for the industry to work hand-in-hand with governmental agencies to design an efficient, effective methodology for disseminating information to and enhancing the confidence of the ultimate beneficiary - the investor. We are very pleased to be a part of this shared and commendable effort on behalf of our membership and candidates.
Stay tuned for further developments...
Best regards,
E.
Craig Asche
Executive
Director
March 2008 Exam Registration Now Open
- Register for an exam here
- Exam dates: March 10 - 21, 2008
- Exam registration closes January 28, 2008
Scheduling an examination appointment: Pearson VUE has now opened its testing centers to scheduling for the March 2008 CAIA exam period. We strongly recommend scheduling your exam appointment with them as soon as possible to ensure a seat at your preferred testing center. All exams are scheduled directly through Pearson VUE. If you have not received your scheduling instructions, please contact candidate@caia.org. For more information about the testing centers, please visit the Exam Locations.
Please take a moment to review your Account Profile on the website and make sure the information is accurate, including your name and contact details. Candidates are solely responsible for the upkeep of their account information.
September Exam Results... and Congratulations
The CAIA Association is pleased to announce that 459 candidates successfully passed the Level II exam in September and are well on their way to becoming CAIA members. The Association continues to enjoy unprecedented growth and fully expects the membership numbers to top 1500 in the near future. Next month we look forward to making a major press announcement to celebrate the extraordinary achievement of this group of dedicated alternative investment professionals.
Pierre Saint-Laurent to Head Canadian Chapter
It is with great pleasure that the CAIA Association appoints Pierre Saint-Laurent as the new head of our Canadian Chapter, succeeding Steve Kangas, who served in the position for the last two years. Mr. Saint-Laurent, who received his CAIA designation in 2004, will oversee the Toronto-based chapter, which services approximately 100 members from across the country.
As head of the Canadian chapter, Mr. Saint-Laurent will be responsible for increasing the CAIA Association's visibility and reach. The organization plans a number of networking and informational events for its Canadian members over the coming year.
In addition to his role with the CAIA Association, Mr. Saint-Laurent currently serves as president of AssetCounsel Inc., a financial services consultancy serving the analytics, product development and marketing/communications needs of Canadian retail, private wealth and institutional money managers and distributors.
He was formerly vice-president and shareholder of Talvest Fund Management, a division of TAL Asset Management (now CIBC Asset Management), as well as vice-president at StrategicNova (acquired by Dundee Wealth Management). He also taught at HEC Montréal (the University of Montréal Business School) between 1984-1992 and served as research economist at Hydro-Québec in two of its divisions between 1992-1994. He continues to lecture at the BBA and MBA levels in finance and economics at HEC Montréal.
Mr. Saint-Laurent holds a B.Sc. and M.Sc. in Economics from the University of Montréal, with doctoral studies in Economics at the University of California at Berkeley. He holds the CAIA and Chartered Financial Analyst (CFA) designations and is working toward completing the Professional Risk Manager (PRM) and Financial Risk Manager (FRM) designations. He has also been both a CAIA and CFA examination grader.
We extend a hearty welcome to Pierre and look forward to many networking and educational events for our Canadian members.
Our Newest Partner - AI News
CAIA is pleased to announce a new partnership with Alternative Investment News, the daily news source for hedge funds, hedge fund of funds, private equity and other alternatives. AI News combines a daily email and online news service with an in-depth weekly print edition to be the first to bring you usable, bankable business leads in the world of hedge funds and other alternative investments. A subscription to Alternative Investment News includes a Daily email, breaking news email alerts, weekly print issues and 24-hour unlimited access to http://www.iialternatives.com. CAIA members will enjoy a 20% discount off the regular subscription price.
The CAIA Association is delighted to welcome AI News as the latest in a growing number of partners who offer valuable discounts and benefits to our members.
CAIA Association in Asia: Final 2007 Events
Executive Director, Craig Asche will be holding meetings with some of the top Asian finance firms and associations to finish out the year. Hong Kong, Singapore and Tokyo have shown much interest in the designation and we look forward to fueling the excitement around the CAIA program in this region. CAIA will be visiting the following cities:
| Hong Kong | Nov 28 - 30 |
| Singapore | Dec 3 - 5 |
| Tokyo | Dec 5 - 7 |
You may contact us if your company is interested in learning more about the CAIA program and designation: info@caia.org.
CAIA in the News
Check out these recent news pieces about the CAIA program, CAIA Association initiatives, and industry developments that include comments from CAIA Association representatives.
- Partnership
combines old, new (Pensions & Investments
Online, October 16, 2007)
- Alternative Courses (vBRW,
October 4, 2007)>
- The
CFA of alternatives (Money Management Australia,
October 3, 2007)
- Private
equity expected to become more popular (Investment
News, September 24, 2007)
- Plus
de 4.000 inscrits cette année contre 2.500 l'an dernier.
(efinancialcareers.fr, September 21, 2007)
- More
taking CAIA exams as alternative investment industry grows (Channel
NewsAsia, September 12, 2007)
- How
to get an A.I. education? (Opalesque,
August 16, 2007)
- Market
turbulence may hurt activist campaigns (Reuters,
August 16, 2007)
- Alt-investment
due diligence entails heavy lifting (Investment News,
August 6, 2007)
- The
2007 Bunker Portfolio (Business Week,
August 2, 2007)
The CAIA Association continues to enjoy increased recognition in the press and in the alternative industry at large. Look for more exciting news from CAIAA in future issues of the newsletter.