Ethics Principles

Seeking Open Comment through May 31, 2024.

Leadership in redefining professional best practices.

CAIA’s vision for professionalism, fiduciary responsibilities, and ethics principles for investment professionals.

As the realm of investments witnesses a significant shift towards 'alternatives' becoming mainstream, it becomes imperative for the CAIA Association to take a leadership role in developing a modernized and relevant set of fiduciary practices for investment professionals and capital allocators to embrace. These principles aim to reaffirm the CAIA Association's distinct position as a leader in the industry.

CAIA, in collaboration with a globally representative workgroup of CAIA Members and the Thinking Ahead Institute, has embarked on a transformative journey to create a new framework of ethics principles. Over a 12-month period, this diverse workgroup provided vital support to bringing this initiative to life. These principles are not merely theoretical; they are intended to be seamlessly integrated into the CAIA curriculum, illuminating the investment industry as an interconnected ecosystem.


Following this integration, the framework will champion a paradigm shift from “rules-based” to “principles-based” oversight, serving as a set of working principles that embody the CAIA Member Code of Ethics. This collective effort underscores our commitment to reshaping the ethical foundation of the investment industry.


Defining Professionalism:
The Framework For Shaping Eight Ethics Principles

Ethics Principles

In alignment with CAIA’s vision, we introduce this principles-based oversight approach, ushering in a new era for ethical investment practices.

Beyond Theory

These principles are not just theoretical exercises; they reflect the significant growth of alternative investments and positions CAIA as a leader in this dynamic environment.


Core Foundation

They will be seamlessly integrated into the CAIA Charter Program’s updated curriculum, becoming a cornerstone of the examination process for aspiring Charterholders.


Future Leaders

Ensures the next generation of investment professionals is equipped with the knowledge and ethics principles needed to navigate the complexities of modern investments.


Building on a Strong Foundation

Ethics Principles


Since its inception, the CAIA Charter Program has embraced and applied the CFA Institute Code of Ethics. This collaboration has played a pivotal role in shaping our commitment to ethical practices within the investment profession.

As we forge ahead, we gratefully acknowledge the contributions of the CFA Institute in influencing our ethical journey. And, as the industry undergoes its transformation, CAIA now recognizes the need for a set of ethics principles uniquely tailored to not only reflect the evolution of alternative investments but also confirms our distinctive position as a leader in this dynamic environment.

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Our Vision for Ethical Investment Practices

We believe that this initiative not only marks a new chapter in our ethics commitment but also contributes to the collective advancement of ethical practices within the investment profession.


We invite all stakeholders to join us on this transformative journey, recognizing the need for principles that not only align with the industry's current trajectory but also lay the groundwork for a sustainable and responsible future for alternative investments.

Seeking Open Comment

Through May 31, 2024.