The Approach

The CFA Program follows the following distinctive but inter-related approaches :

Basic Knowledge aimed at improving candidates understanding of certain fundamental phenomena and relationships underlying the changing world of investment management.

Tools and Techniques are required to equip candidates improve their analytical ability and power of integration and synthesis in the context of financial markets and instruments.

Application Areas linking the theoretical studies to the practical problems faced by financial analysts and investment managers.

Professional Ethics aimed at inculcating in the candidates an ethical approach in their professional interactions and a sense of personal, corporate, and social responsibilities.

Focus Areas
The Program has five focus areas:

• Capital Markets
Capital markets include equity, debt and derivatives markets, both primary and secondary segments. The players include the issuers of financial instruments, the institutional and individual investors, the intermediaries (like investment bankers, brokers, bankers, etc), the financial analysts, the media, the mutual funds, pension funds, hedge funds, the stock exchanges and the regulators.

• Analysis and Valuation
The various financial instruments like equity, fixed income securities (like bonds), and derivatives (like options, futures, and swaps) have different risks associated with them and yield different returns. These risks and returns have to be carefully analyzed and the instruments have to be properly valued applying various methods of valuation.

• Investment Management
Different investors have different risk profiles and return-expectations. Hence different portfolios have to be developed and managed to achieve the objectives of the investors. Depending upon the changing circumstances, the portfolios have to be rebalanced. Asset allocation and risk-return management are the key functions of successful portfolio managers.

• Mutual Funds
A wide variety of mutual funds pension funds, and hedge funds have come into existence. Each mutual fund has several schemes: growth schemes, income schemes, balanced schemes, sectoral schemes, index-linked schemes, tax-planning schemes etc. Several insurance companies have to manage their investment funds as per the norms of the regulatory bodies.

• Code of Conduct
The financial analysts are required to adhere to the code of ethics and standards of professional conduct covering various aspects like integrity, ethical behavior, professional competence, objectivity, professional independence and public trust.

Program Structure
The CFA Program is divided into three modules. Each module consists of four topics:

The candidates of the CFA Program are required to appear for the examinations for the three modules in a sequential manner.

For Whom

• Graduates interested to pursue a career in financial analysis and investment management.

• Professionally qualified accountants like CAs, CMAs, etc.

• MBAs or equivalent.

• Financial Analysts and Fund Managers working in investment industry.

• Professionals in Banking, Financial Services, and Insurance sectors.

Eligibility
Graduates with 60% and above (with Economics, Commerce, Management background) with 3 years of work experience in investment industry plus qualifying scores in online Entrance Test.

Duration
The CFA Program may be completed in a period of 36 months, if the candidate completes each module every year.

Medium of Instruction
English.

Period of Validity of Enrollment
Candidates are required to complete the CFA Program within a maximum period of three years from the date of enrollment. Candidates who are unable to complete the program within three years but are still keen on continuing in the program, are required to register do novo, by paying the requisite fee.

Fee
For each module Rs.40,000.

Study and Examinations
The, CFA Program is based on self-study and examinations.

Self-Study: A detailed study plan is provided with prescribed books specially designed and meant for self-study.

Examinations: The examinations serve to finally assess and certify the candidates' understanding of the subjects.

Contact Classes
Weekend contact classes will be organized subject to a minimum number of candidates. Additional fee is payable towards the classes.

Examinations
The examinations are administered to bring out the best in the candidates and prepare them for challenging careers in the world of financial analysis and investment management.

Examinations are conducted once a year in July (first Saturday and Sunday).

Test Center
Examinations will be conducted at Pune, Maharashtra.

Enrollment Dates
In order to become eligible to appear for the examinations, the candidates are required to enroll into the program as indicated below.

Passing Requirements
To pass in each module, a candidate must secure 60 per cent marks in aggregate.

Awards
All candidates who successfully complete all the three levels of the program will be awarded the CFA Designation by Magnus School of Business.

For Application, please contact:
Magnus School of Business®
Parmar Gallery, Above Spencers, Jagtap Road, Wanowrie, Pune - 411 040, Ph: 020 - 66034184 / 85, E-mail: cfa@msbmail.org
Website: www.magnuscfa.org