The
number of ACIIA® member societies has
increased from 10 at the first AGM in
June 2000, to 24 now actively supporting
the concept of a real international designation
for investment professionals governed
by a multinational partnership that guarantees
the culture, language and independence
of every member. Since the beginning of
2003, 6 more societies have joined the
ACIIA®: Holland and Luxembourg as Contracting
Members; and Iran, Thailand, Hungary and
Sweden as Associate Members. I take this
opportunity to welcome them.
Over the
last six months, the operations of the
ACIIA® have been characterised by an atmosphere
of increased momentum and cooperation.
After readjusting their programs, many
societies are bringing candidates to the
CIIA® exams for the first time this year.
Thus far, 1,443 candidates have passed
the final examinations, and over 1,000
candidates sat the recent March examination
session. Facing these figures, and
taking into account the early stage of
development of the ACIIA® and that the CIIA® is in its third year of
examinations only, I am more than content
with the achievements. Of course, the
ACIIA® figures do not compare with
those disclosed for the CFA because they
have little in common: the registered CFA
candidate numbers need to be seen in the
perspective of a pass rate of some 20%,
and a completion time of some 6 years. The
CIIA®
starts from a much higher
candidate level and can be completed
within 9 – 12 months. Moreover, the
average pass rate of the CIIA® final exams is a healthy
70%, which reflects the commitment the
ACIIA® societies have made to
provide good training and support for
their candidates.
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As
more societies are assisting the development
of the CIIA® designation into new regions
and collaborating on CIIA® training and
promotional materials, the growth of the
CIIA® will continue to improve.
At the same
time, this is being reinforced by the political
efforts worldwide to secure the
qualification
and integration of analysts, as regulators
and legislators take notice of the advantages
of the CIIA® designation - especially the
requirement of knowledge of local markets
- which is a unique feature of the designation
alongside the Common Kmowledge Base.
Finally,
I would like to encourage the Members to
use the newsletter as a forum for the exchange
of ideas and information, and to foster
cooperation between the societies to reach
common goals.
Fritz H. Rau, 24th March 2003
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