Fewer than 10 people applied for the Chartered Alternative Investment Analyst (CAIA) programme when it started here three years ago, but come September, about 40 will sit for the next half-yearly examination. Successful candidates become members of the CAIA Association (CAIAA).

The CAIA, like the CFA, is a graduate-level, self-study programme, but it focuses on alternative investments rather than traditional ones such as equity and fixed-income products.

Recognising this growing trend, French business school Insead is offering a three-day training programme at its Asia campus in Singapore in August to help candidates prepare for the CAIA exams the following month.

About 3,000 candidates in 54 countries will sit for the exams this year. The CAIAA's executive director, Mr Craig Asche, noted that the number of people entering the programme is doubling every year.