The Certified Alternative Investment Manager (AIM)  is an industry recognized standard for professionals advising Alternative Investments.  AIM certification is jointly offered by the Association of International Wealth Management of India (AIWMI) & National Institute of Securities Markets (NISM).

Indian Association of Alternative Investment Funds (IAAIF) – a representative and advocacy body for the Alternative Investment industry in India is the Knowledge Partner for the AIM certification.  IAAIF has developed this certification based on rigorous academic research and on extensive discussions with Regulators, Industry Practitioners, Clients and prominent thought leaders.

The purpose of this certification is to explore the world of alternative investments, such as hedge funds, private equity / venture capital funds, real estate, and commodities either directly or through funds of funds. The certification has been developed based on rigorous academic research and on extensive discussions with industry practitioners. The certification addresses the need for qualified professionals in the context of the distinctive characteristics of alternative investment versus other financial products.


  • Rich Investment Management Content
  • Job Opportunities
  • Practical Knowledge
  • One-On-One Access
  • Global Analytical Models
  • Market Savvy Nature of the Certification
  • Access to in-depth market reports
  • Rigor
  • Differentiation
  • Ethics
  • Multiple Perspectives
  1. Introduction
  • Alternative Investments: an Overview
  • The role of Alternative Investment in Strategic Asset Allocation
  • Trends in Alternative Investments
  • Alternative Investments & Due Diligence
  1. Private Equity
  • Private Equity – History
  • Types – Angel, Venture, Private, Crowd, Different Funding Series
  • Types – Equity, Debt
  • Investment Methods
    • Mezzanine capital
    • Distressed and special situations
    • LBO
  • Performance of Private Equity
  • Private Equity: Risk & Return Profile
  1. Real Estate
  • Real Estate as an Investment Asset
  • Real Estate Investment Trusts
  • Commercial Real Estate
  • Mortgage backed Securities
  • Mortgage Debt and Preferred Equity in Real Estate
  • Real Estate Appraisal & Valuation
  • Performance of Real Estate Portfolios
  1. Commodities & Managed Futures
  • Investing in Commodities
  • Performance of Commodities
  • Investing in Commodity Futures
  • Strategic Asset Allocation
  • Managed Futures
  • Role of Managed Futures in a Portfolio
  1. Hedge Funds
  • Introduction to Hedge Funds
  • Investing in Hedge Funds
  • Performance of Hedge Funds
  • Due Diligence
  • Risk Management
  • Hedge Fund Benchmark & Asset Allocation
  1. Structured Products
  • Structured products Introduction
  • Issuers’ and investors’ appetite for structured products
  • Identify underlying assets used for SPV’s
    • Define special purpose vehicle
    • Identify mechanics of popular structured products using different assets classes as base
  • Implied correlations, base correlations, term structure effects
  • CDO risk measures
  • Recent product innovations
  • Future for structured products
  1. Credit Derivatives
  • Introduction to Credit Derivatives
  • Collateralized Debt Obligations
  1. Other Alternate Investment Asset classes
  • Liquid Alternatives
  • Currency
  • Art Funds
  • Wine Funds
  • Film Funds
  • Carbon credits

9.Portfolio Construction

  • Principles of Portfolio Management
  • Portfolio Theory
  • Portfolio Management – Traditional & Modern Approaches
  • Portfolio Creation
  • Portfolio Performance Analysis
  1. Portfolio Evaluation
  • Performance Evaluation
  • Sharpe’s
  • Treynor’s
  • Jensen’s
  • VaR – x
  1. Multifactor Risk & Return Models
  • Introduction
  • CAPM Theory
  • Multi – Factor Model of Risk & Return
  • The Endowment Model
  • Risk Budgeting Models
  • Liability Driven Models
  • Efficient Frontiers
  1. Risk Management
  • Definition of Risk
  • Types of Risk
  • Risk in Alternative Investments
  • Risk Avoidance
  • Contemporary Risk Models
  • Benchmarking
  • Performance Attribution
  • Asset Allocation Strategies
  • Diversification Strategies
  1. Marketing & Sales Model for Alternative Investments
  • Capital Raising Distribution Channels
  • Sales Fundamentals
  • Influence & Persuasion
  • Alternative Investments Marketing Best Practices
  • Third Party Marketing
  1. Due Diligence
  • Introduction
  • Investment Objective of the Fund
  • The Fund Investment Process
  • Structural Review
  • Strategic Review
  • Real Estate Rating Methodology (CARE)

Additional Reading

  1. Alternative Investment – India
  • Alternative Investments Sector in India
  • Tax Structure
  • Securities & Exchange Board of India (SEBI)
  • Genesis of Alternative Investments Market Regulation
  • AIF Regulations
  1. Alternative Investment Funds (AIFs) – Registration Process
  • Types of AIFs
  • Legal Structure & Documentation
  • Registration Process
  • Target Participants
  • Investment Restrictions
  • Recent Developments

The Certified Alternative Investment Manager (AIM) is a self-paced certification program. After registration, a candidate receives all the content (print & online) including books, mock tests, case studies, recorded video lectures and instructional ppts from AIWMI.

The registration is valid for 5 years. The AIM exams are available at more than 5000 Pearson centers around the world on all the working days.

A candidate can schedule his own exam as per her his convenience once he is prepared.

Registration Fees INR 40,000
Exam Fees INR 3,540
GST (18%) INR 7,837
Total INR 51,377


IIFL AMC is currently offering scholarships to senior wealth advisors, private bankers and multi-family office executives on the prestigious AIM certification program.