The Certificate in Investment Performance Measurement (CIPM) is a

professional accreditation Professional certification, trade certification, or professional designation, often called simply ''certification'' or ''qualification'', is a designation earned by a person to assure qualification to perform a job or task. Not all certifications ...

in the field of

investment performance Investment performance is the return on an investment portfolio. The investment portfolio can contain a single asset or multiple assets. The investment performance is measured over a specific period of time and in a specific currency. Investors o ...

analysis. It includes investment performance measurement and attribution. It is offered by the CIPM Association, a body associated with the

CFA Institute The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. The institute aims to promote standards in ethics, education, and professional excellence in the global investme ...

Professional accreditation

Historically, global investment firms have been subject to a diverse patchwork of laws, regulations, and market customs that dictate how investment performance results can be measured and advertised. For example, the well-known warning that "past investment returns may not be predictive of future investment returns", has long been encouraged in advertisements for managed funds by

regulators Regulator may refer to: Technology * Regulator (automatic control), a device that maintains a designated characteristic, as in: ** Battery regulator ** Pressure regulator ** Diving regulator ** Voltage regulator * Regulator (sewer), a control de ...

such as the

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

(SEC). Recognising that there was likely to be continuous growth in the worldwide patchwork of regulation covering investment return calculations and advertising, the global investment management industry has agreed on a set of standards known as the Global Investment Performance Standards (GIPS). The GIPS standards relate to the following issues: Candidates for the CIPM qualification must adhere to the same body of professional ethics and professional conductCFA Institute Code of Ethics and Professional Conduct
that has been devised for Chartered Financial Analysts by the

. To obtain the Certificate, one must sequentially pass two examinations (known respectively as ''Principles'' and ''Expert''). The content of each of these examinations includes 13% on ethics and professional standards. A certain level of practical experience is also required before obtaining the certificate.CIPM FAQ
After obtaining the Certificate, Certificate-holders are required to engage in continuing education, and to file a Professional Conduct Statement (PCS) annually. Misconduct can render a certificate-holder liable to professional discipline.

Trademarks

GIPS, CFA, and CIPM are registered trademarks of the CFA Institute.

Historical pass rates

References

External links

CIPM Association web siteGIPS Standards web siteHistory of the GIPS Standards
{{DEFAULTSORT:Certificate In Investment Performance Measurement Investment management Professional certification in finance