The Chartered Alternative Investment Analyst (CAIA) Association is pleased to announce that the first CAIA charters were awarded to over 40 individuals who passed their Level II examination in July 2003.  The Association is also delighted to announce the appointment of Craig Asche as the new Executive Director.

Following its launch in October 2002, the CAIA designation program has attracted candidates from over 20 different countries.  They represent a wide variety of financial industries including hedge funds, futures, options, pension funds, asset allocation, personal financial planning, risk management, and accounting.  A number of the first CAIA charterholders attended the Association's first Annual Meeting on September 16^th.

Eric Breval, CIO for Gerifonds in Switzerland , said, "It's terrific to be able to be a part of an event such as this.  Given the size of this market, those of us here today know that we are part of a special group of people - the first CAIA charterholders."

Craig Asche comes to the CAIA Association with over fifteen years of experience in the investment field working for Salomon Brothers, Swiss Bank Corporation and Bankers Trust.  His most recent position was Director of the Asia Pacific Foreign Exchange Department at Salomon.  Speaking at the Annual Meeting, he said, "Today's induction ceremony marks an important first step towards establishing our Association's reputation for professionalism and the CAIA designation as the industry's global mark of excellence. With the enthusiasm and commitment of this inaugural class, and the support of the alternative investment community at large, I am confident of our Association's continued growth and look forward to this opportunity to contribute to such a worthwhile endeavor."

The goals of the non-profit CAIA Association are to establish the CAIA designation as the definitive standard for alternative investment professionals; enhance industry knowledge through ongoing educational programs; promote professional conduct within the alternative investment community; and facilitate communication among industry practitioners and academics alike. 

The founding sponsoring organizations of the CAIA Association are AIMA (the Alternative Investment Management Association) and CISDM (Center for International Securities and Derivatives Markets).