A scholarship program aimed at attracting more women to join the alternative investment field and fostering their growth within the industry is now accepting applications for its September 2020 exam cycle.
A partnership between 100 Women in Finance, an industry group that supports women in the alternative investment management industry, and Chartered Alternative Investment Analyst Association, is offering its 100 Women in Finance/CAIA Scholars Program.
Now in its 10th year, the program grants 10 scholarships per year to women going through CAIA Association's certification program. The scholarship program is funded by a grant from Pacific Alternative Asset Management Co.
"Gender diversity has been a struggle for a long time," said Deborah McLean, managing director of global relations at CAIA Association, in a phone interview. "This is addressing the need to attract and reward women in the financial field."
As part of the scholarship program, CAIA Association will waive enrollment and first-time registration fees for its Level I and II exams, provide textbooks, preparation classes and offer one full year of CAIA membership for free.
Although Ms. McLean said this will be the final year that PAAMCO funds this scholarship program, CAIA intends to keep the program going in the future.
"We feel diversification drives innovation and has a positive effect on productivity," she added. "It makes good business sense. We're still in the early stages of what we can provide in this area."
The deadline for applications is Feb. 28. Scholarship winners will be announced in the spring.