LEVEL 2 - 2025 Curriculum Outline |
| Topic 1. Institutional Asset Owners |
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Reading 1.1. Types of Asset Owners and the Investment Policy Statement Reading 1.2. Foundations and the Endowment Model Reading 1.3. Pension Fund Portfolio Management Reading 1.4. Sovereign Wealth Funds Reading 1.5. Family Offices and the Family Office Model
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| Topic 1. CAIA Ethical Principles |
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Reading 1.1. Professionalism and Fiduciary Responsibility Reading 1.2. Ethics
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| Topic 2. Institutional Asset Owners |
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Reading 2.1. Types of Asset Owners and the Investment Policy Statement Reading 2.2. Foundations and the Endowment Model Reading 2.3. Pension Fund Portfolio Management Reading 2.4. Sovereign Wealth Funds Reading 2.5. Family Offices and the Family Office Model
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| Topic 3. Asset Allocation |
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Reading 3.1. Asset Allocation Processes and the Mean-Variance Model Reading 3.2. Total Portfolio Approach Reading 3.3. Other Asset Allocation Approaches Reading 3.4. Active Management Reading 3.5. Rebalancing Strategies
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| Topic 2. Asset Allocation |
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Reading 2.1. Asset Allocation Processes and the Mean-Variance Model Reading 2.2. Total Portfolio Approach Reading 2.3. Other Asset Allocation Approaches Reading 2.4. Active Management
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| Topic 3. Risk and Risk Management |
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Reading 3.1. Hedging, Rebalancing, and Monitoring Reading 3.2. Benchmarking and Performance Attribution Reading 3.3. Applied Benchmarking Reading 3.4. Liquidity and Funding Risks Reading 3.5. Risk Measurement, Risk Management, and Risk Systems
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| Topic 4. Risk and Risk Management |
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Reading 4.1. Hedging, Rebalancing, and Monitoring Reading 4.2. Benchmarking and Performance Attribution Reading 4.3. Applied Benchmarking Reading 4.4. Liquidity and Funding Risks Reading 4.5. Risk Measurement, Risk Management, and Risk Systems
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| Topic 5. Methods and Models |
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Reading 5.1. Modeling Overview and Fixed-Income Models Reading 5.2. Valuation and Hedging Using Binomial Trees Reading 5.3. Multi-Factor Equity Pricing Models Reading 5.4. Directional Strategies and Methods Reading 5.5. Multivariate Empirical Methods and Performance Persistence Reading 5.6. Relative Value Models Reading 5.7. Valuation Methods for Private Assets: The Case of Real Estate
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| Topic 4. Methods and Models |
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Reading 4.1. Modeling Overview and Fixed-Income Models Reading 4.2. Valuation and Hedging Using Binomial Trees Reading 4.3. Multi-Factor Equity Pricing Models Reading 4.4. Directional Strategies and Methods Reading 4.5. Multivariate Empirical Methods and Performance Persistence Reading 4.6. Relative Value Models Reading 4.7. Valuation Methods for Private Assets: The Case of Real Estate
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| Topic 5. Accessing Alternative Investments |
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Reading 5.1. Hedge Fund Replication Reading 5.2. Diversified Access to Hedge Funds Reading 5.3. Access to Real Estate and Commodities Reading 5.4. The Risk and Performance of Private and Listed Assets
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| Topic 6. Accessing Alternative Investments |
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Reading 6.1. Hedge Fund Replication Reading 6.2. Diversified Access to Hedge Funds Reading 6.3. Access to Real Estate and Commodities Reading 6.4. The Risk and Performance of Private and Listed Assets
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| Topic 7. Due Diligence and Selecting Managers |
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Reading 7.1. Selection of a Fund Manager Reading 7.2. Cases in Tail Risk Reading 7.3. Investment Process Due Diligence Reading 7.4. Operational Due Diligence Reading 7.5. Due Diligence of Terms and Business Activities
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| Topic 6. Due Diligence and Selecting Managers |
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Reading 6.1. Selection of a Fund Manager Reading 6.2. Cases in Tail Risk Reading 6.3. Investment Process Due Diligence Reading 6.4. Operational Due Diligence Reading 6.5. Due Diligence of Terms and Business Activities
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| Topic 7. Volatility and Complex Strategies |
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Reading 7.1. Volatility as a Factor Exposure Reading 7.2. Volatility, Correlation, and Dispersion Products and Strategies Reading 7.3. Complexity and Structured Products Reading 7.4. Complexity and the Case of Cross-Border Real Estate Investing
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| Topic 8. Volatility and Complex Strategies |
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Reading 8.1. Volatility as a Factor Exposure Reading 8.2. Volatility, Correlation, and Dispersion Products and Strategies Reading 8.3. Complexity and Structured Products Reading 8.4. Complexity and the Case of Cross-Border Real Estate Investing Reading 8.5. Cryptocurrency Investing and Trading
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| Topic 9. Universal Investment Considerations |
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Reading 9.1. Global Regulation Reading 9.2. Geopolitics Reading 9.3. ESG and Alternative Investments Reading 9.4. ESG Analysis and Application
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| Topic 8. Universal Investment Considerations |
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Reading 8.1. Professionalism and Fiduciary Responsibilities Reading 8.2. Global Regulation Reading 8.3. Geopolitics Reading 8.4. ESG and Alternative Investments Reading 8.5. ESG Analysis and Application
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| Topic 9. Emerging Topics |
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Reading 9.1. Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets Reading 9.2. Web 3.0 Tokenization Reading 9.3. From ELIZA to ChatGPT Reading 9.4. Assessing Long-Term Investor Performance: Principles, Policies and Metrics Reading 9.5. Value Creation in Private Equity Reading 9.6. Managing Liquidity for Capital Calls Reading 9.7. Takahashi-Alexander Revisited Reading 9.8. Introduction to Portfolio Rebalancing Strategies
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| Topic 10. Emerging Topics |
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Reading 10.1. Web 3.0 Tokenization Reading 10.2. From ELIZA to ChatGPT Reading 10.3. Assessing Long-Term Investor Performance: Principles, Policies and Metrics Reading 10.4. Value Creation in Private Equity Reading 10.6. Managing Liquidity for Capital Calls Reading 10.5. Scale, Scope, and Speed in Private Capital Funds Reading 10.7. Takahashi-Alexander Revisited Reading 10.8. Direct Value Creation and Capture in the Pension Fund Industry
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