The CISI is to waive joining fees for members of another professional body after striking a partnership deal.

The tie up with The Chartered Alternative Investment Analyst Association enables CAIA Charterholders to join the CISI without having to sit for further exams.

CAIA Charterholders with more than three years of relevant industry experience can join the CISI as full members of the organisation as part of the deal. Those with less may also join as Associate members.

CISI joining fees will be waived for all CAIA Members, meaning they need only pay the annual subscription fee.

CAIA Members seeking to join the CISI will be exempt from extra examinations after passing the online IntegrityMatters test. This will activate their membership with the CISI.

CAIA members will have access to the full range of CISI offerings, including MyCISI, a members-only online portal that includes a range of resources to keep members up to date with industry developments, maintain regulatory compliance and demonstrate continuing learning.

For CISI members the CAIA is offering a discount price of $795 to access the CAIA’s introductory level Fundamentals of Alternative Investments Certificate programme.

William J. Kelly, chief executive of CAIA said: “The CAIA and CISI Charters are global marks of distinction that identify those professionals who have made the utmost commitment to their education and to keeping pace with the fast moving worlds of finance and alternative investment.

“We’re thrilled to announce this relationship and expect many of our members to move quickly to take advantage of this access to CISI.”

Kevin Moore, Chartered MCSI, director of CISI global business development said: “We are delighted to confirm our partnership with the CAIA, the world leader and authority in alternative investment education.

"This union will allow CISI members to broaden their expertise by providing access to the FAI programme and we look forward to working with the CAIA further to explore CPD and event activities which may be mutually beneficial to both our memberships.”

The CAIA Association, which traces its roots to 2002, described itself as the “world leader in alternative investment education”.

More than 8,400 alternative investment industry professionals in over 80 countries have earned the CAIA Charter, an international credential granted upon successful completion of a two-level exam series.