The Institute of Chartered Financial Analysts of India (ICFAI) established in 1984 is a non-profit society that came with an objective of providing training in finance and management. However, due to some disputes over functioning and curriculum ICFAI broke all its working relationships with CFA Institute and since then have been working as a separate functioning body.
The Master in Investment and Financial Analysis (MIFA), the CFA program provided by ICFAI, has been designed to suit Indian finance professionals and focuses on financial analysis as applicable to investment management.
The MIFA program is divided into six groups. Each group consists of two subjects and the whole of curriculum is spread across a time-frame of 2 years:
In the 1styear, group A comprises of Financial Accounting and Economics. Group B includes Quantitative Methods and Financial Management, and group C has Financial Markets and Financial Statement Analysis.
In the 2ndyear, Equity: Analysis and Valuation, and Fixed Income Security: Analysis and Valuation makes group D. Group E is made by the inclusion of Derivatives: Analysis and Valuation, and Portfolio Management. The final group, group F, has Mutual and other Funds and Case Study as its parts.
To undertake the MIFA program from ICFAI a student must have an aggregate of 55% or 4 years of experience in finance sector.
The examinations are generally conducted on Sunday’s in January, April, July and October. The examination of each subject is of 3 hours duration.
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