CIPM® Program                               

Performance and risk evaluation skills that drive smarter, more effective investment decisions

The Certificate in Investment Performance Measurement (CIPM) Program is the industry’s only investment performance and risk-evaluation credential. CIPM candidates learn practice-based approaches to performance measurement, manager selection, attribution, risk evaluation, ethics, communication and reporting.

  • CFA charterholders and others who have passed Level III are now eligible to proceed directly to the Expert Level of the CIPM Program.

  • The program is organized into two parts, the Principles and Expert Levels, covering the following topics:
  • Performance Measurement
  • Performance Attribution
  • Performance Appraisal & Manager Selection
  • Ethical Standards
  • Performance Presentation
  • Global Investment Performance Standards (GIPS)

  • Are equipped to thoroughly evaluate all aspects of investment performance
  • Possess skills for identifying drivers of performance
  • Know how to conduct effective manager search and selection beyond performance evaluation to manager evaluation
  • Are trained in producing comprehensive and transparent risk and performance reports
  • Improve their firms’ reputation for acumen, accuracy, and accountability
  • Have a deep understanding of their ethical responsibilities
  • Increase efficiency and risk awareness
  • Two levels of study and exams: 1) Principles and 2) Expert
  • Exams for both levels are offered twice a year, in April and October
  • Curriculum is continuously updated by practitioners to ensure it stays relevant to today’s employers
  • Self-study format allows candidates to set their own schedule and continue working full-time
  • Completion typically takes between 1-2 years total and an average of 120 hours of study per level
  • Successful candidates are awarded the CIPM certificate and hold the CIPM designation
To learn more about the CIPM Program, visit us at