CFA Institute, the global association of investment management professionals, announces that 59 percent of candidates who sat for the Level II (formerly Expert) exam in the Certificate in Investment Performance Measurement (CIPM®) Program passed the September 2017 exam. Pending verification of experience and membership requirements, these successful candidates will be able to use the CIPM designation and become members of CFA Institute. As CFA Institute members, CIPM designation holders have access to the CFA Institute network of 149 societies, CFA Institute voting rights, the online continuing professional development tracker, and the CFA Institute member app. Previously, CIPM designation holders became members of the CIPM Association.
The exam was administered in 42 countries and tests a candidate’s portfolio evaluation skills, including risk and return analysis, performance attribution, appraisal and selection of investment managers, and presentation of investment results demanded by clients and employers in the industry.
The CIPM Program offers practice-based training, and promotes professional and ethical excellence in portfolio performance evaluation and risk management, enabling designation holders to evaluate and communicate investment performance in a transparent and insightful way for asset management firms and investors. Successful CIPM candidates include investment consultants, portfolio managers active in manager selection, financial advisors, and client relationship managers. There are 1,945 investment professionals worldwide who hold the CIPM designation and have demonstrated their commitment to serving society and their clients’ interests first through professionalism and integrity.
“Employers in the investment industry expect a high level of expertise from investment professionals at a time when the industry is rapidly changing to meet the diverse needs of clients,” said Thomas Porter, head, CIPM Program. “CIPM certificants have gained the necessary knowledge of the portfolio evaluation process to accurately inform investment decisions, including manager selection.”
In addition to the new designation holders, 46 percent of candidates who took Level I (formerly Principles) of the CIPM exam have passed. The Level I exam emphasizes investment tools, inputs and standards necessary for performance evaluation. Candidates who passed the Level I exam are eligible to enroll in Level II of the program.
Earning the CIPM designation requires a dedicated effort to pass the applicable exam(s), meet a work experience requirement, adhere to a code of ethics and standards of professional conduct and satisfy the requirements of the mandatory continuing education program. The CIPM Program applies best practices in investment analysis techniques through a self-directed curriculum and tests proficiency in professional ethics, performance evaluation, and investment reporting. Approximately 70 percent of the CIPM curriculum covers advanced performance evaluation and the remainder centers on ethical and professional standards.
In addition to the new membership structure, several program enhancements went into effect in October:
New Level Names—The levels have been renamed Level I and Level II (formerly Principles and Expert).
New Learning Ecosystem—CIPM Program candidates also now have access to a digital learning platform designed to deliver a more engaging and effective method of study to candidates prior to the exam.
Registration for both levels in the March 2018 examination window remains open through January 31, 2018. The CIPM examinations are administered each year in March and September at test centers worldwide.
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has over 145,000 members in 163 countries and territories, including 140,000 CFA charterholders, and 149 member societies. For more information, visit www.cfainstitute.org.