AUCKLAND, NEW ZEALAND; December 15, 2008 - The New Zealand Absolute Return Association (NZARA) today announced their endorsement of the Chartered Alternative Investment Analyst (CAIA) designation.

Said NZARA's Chairman, Anthony Limbrick - "NZARA's endorsement of the CAIA designation is further evidence of our ongoing commitment to encouraging excellence in the New Zealand alternative investment industry, which in time should further align local industry participants with global best practice expectations. We think CAIA is a valuable global educational resource and our endorsement reflects this".

The CAIA designation is the only global professional designation exclusively dedicated to the alternative investment sector.  Currently, over 2400 individuals from 58 countries hold the CAIA designation, including 3 from New Zealand. 

"We are honored and delighted to have received the endorsement of NZARA and welcome their commitment to professional education within the Alternative Investment industry," said Craig Asche, executive director of the CAIA Association.  "As the investment world grows ever more interconnected, the importance of finding new managers with new ideas and diverse perspectives becomes all the more desirable and valuable. Associations such as NZARA play a critical role in elevating investor understanding, promoting industry best-practices, and interfacing with regulators to enhance industry efficiency, access and transparency. We applaud their efforts and those of the many industry Associations who share our common goal."

Representatives from the CAIA Association will be traveling to New Zealand in 2009 to meet with the New Zealand Absolute Return Association and discuss further potential educational collaboration.

About the New Zealand Absolute Return Association

The New Zealand Absolute Return Association Incorporated (NZARA pron "en-zara") represents the hedge fund, commodity trading advisor, and absolute return equity investment management community in New Zealand. Since founding in 2005, NZARA has worked to improve the New Zealand regulatory environment, encourage best practice, and increase global awareness of the small but innovative New Zealand alternative investment industry. More information is available at www.nzara.org.

About the CAIA Association
The Chartered Alternative Investment Analyst Association® is an independent, not-for-profit global organization committed to education and professionalism in the field of alternative investments. Founded in 2002, the Association is the sponsoring body for the CAIA designation.  Recognized globally, the designation certifies one's mastery of the concepts, tools and practices essential for understanding alternative investments and promotes adherence to high standards of professional conduct.