Who can enroll
Anyone who has passed Class 12 (10+2) can register for the programme. No prior finance background is assumed — the curriculum builds from the fundamentals.
Recognized and accepted by leading institutions
Exams are booked through authorized testing partners across 75+ Indian cities.
Academic & institutional acceptance
Trusted & recognised worldwide
The gap
From Reading the Market to Running a Portfolio
Capable finance professionals stall at the same point — the step between having a view on a stock and being able to build a portfolio around it.
Product knowledge without process
You know equity, debt, funds and derivatives individually. Nothing tells you how much of each, for which mandate, at what point in the cycle.
Analysis that stops at the company
Valuation is done in isolation from the macro view, so a good stock call sits inside a badly constructed portfolio.
Risk treated as an afterthought
Risk gets measured after allocation rather than driving it — which is the reverse of how professional mandates are run.
No way to prove performance
Without attribution and benchmark discipline, you cannot show whether returns came from skill, beta or luck.
CPM® closes each gap with one connected curriculum — 10 units running from macroeconomic analysis through security valuation, allocation, alternatives and performance evaluation to SEBI's portfolio management regulations.
What is the Chartered Portfolio Manager® designation?
CPM® is a professional certification in investment and portfolio management, conferred under American Academy of Financial Management® global standards and delivered in India by AAFM® India. It is a designation, not a course: you work through a structured curriculum, pass the certification examination, and earn the right to use the CPM® mark after your name. The programme is built around how investment decisions are actually made in practice. You start with the economic environment that sets the opportunity, move through the analysis of individual securities and financial statements, and end with the construction, monitoring and evaluation of a complete portfolio — including alternatives, real estate and the SEBI regulations that govern portfolio management in India.
Units 1–6
Analysis foundation
Economic analysis and forecasting, investment policy, investment vehicles, corporate finance, financial modelling and security analysis.
Units 7–10
Portfolio application
Alternative investment products, real estate valuation, advanced portfolio techniques, and the legal and regulatory framework of portfolio management.
Who earns the CPM®?
Research analysts & dealers
Move from covering securities to owning allocation and portfolio-level decisions.
PMS & asset management executives
Formalise the process behind mandates you already work on, including the regulatory framework.
Brokers, sub-brokers & investment consultants
Move the conversation from trade ideas to a structured investment approach.
RIAs & mutual fund distributors
Add investment depth to an advisory practice built mainly on product selection
CAs, CSs & finance professionals
Extend accounting and corporate finance strength into investment and portfolio work.
Finance students & graduates
Build a specialist investment skill set before you have a track record to point to.
If your work involves analysing, selecting or managing investments — or you intend it to — CPM® is built for you. If you are looking for a broad financial planning or client advisory credential, CWM® is the better fit.
Trusted by Leading Employers
Our certifications open doors to top companies across the finance industry.
INDIA
INTERNATIONAL
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Program Overview
A process, not a
syllabus
The Chartered Portfolio Manager® programme concentrates
on the practical application of capital markets theory at the operational level
— the level at which portfolios are actually built and managed inside a
financial services organisation. It is designed for professionals who need a
defensible investment process, not a broader introduction to finance.
The curriculum moves in the same sequence a portfolio
manager works in. You establish the macroeconomic and market context, define
the investment policy and risk parameters, analyse securities and financial
statements, select across asset classes including alternatives and real estate,
and then monitor, rebalance and evaluate what you have built against a
benchmark.
- Investment policy first: learn to define objectives, constraints and
risk tolerance before selecting a single security.
- Analysis to allocation: connect economic forecasting and security
valuation to actual asset allocation decisions.
- Alternatives and real assets: understand where hedge funds, private
equity, structured products, commodities and real estate sit within a
portfolio.
- Regulation as a working constraint: SEBI Portfolio Managers, Investment Advisers, Mutual Fund, AIF and FPI regulations — as they apply to day-to-day practice.
- Career application
Where CPM® knowledge applies
CPM® builds knowledge relevant to roles across the investment side of the industry:
- Investment research and equity analysis
- Portfolio management and portfolio management services (PMS)
- Asset management and fund operations
- Investment advisory and RIA practice
- Alternative investments and AIF roles
- Treasury and capital markets
- Family office investment functions
CPM® builds knowledge applicable to these areas. AAFM® India does not guarantee employment, placement or any level of compensation.
Why structured preparation makes all the difference
Why
structured preparation makes the difference
Most professionals struggle to build real portfolio capability,
not for lack of ability, but because:
- there is no clear pathway connecting analysis to an
actual investment decision
- financial statements, market views and portfolio
strategy are studied separately rather than as one process
- valuation and forecasting are learned mechanically
instead of strategically
- study is organised around topics rather than around
an investment process
How the programme addresses it
CPM® provides a structured path that
teaches not only the tools of portfolio management but when to apply them in
live market conditions. By connecting financial analysis, asset allocation,
risk management and performance evaluation into one consistent framework, the
programme builds working competence rather than scattered knowledge.
A complete investment and portfolio management skill set
Build an investment policy
Translate objectives, constraints, time horizon and risk tolerance into a written investment policy that governs every subsequent decision.
Value what you buy
Apply fundamental analysis, equity valuation models, financial statement analysis and technical indicators to individual securities.
Allocate and diversify
Use asset pricing models, strategic and tactical allocation and rebalancing rules across equity, fixed income, alternatives and real assets.
Measure and defend performance
Evaluate portfolios against benchmarks, revise holdings with discipline, and work within SEBI's regulatory framework.
No uncertainty after payment
No uncertainty after payment
01
Enroll online
Pay securely. Your LMS access activates within 24 hours.
02
Receive study material
Digital courseware unlocks in your portal within 24 hours.
03
Learn on your schedule
236 lessons, 28+ hours of recorded instruction, on mobile and desktop, for 12 months.
04
Test yourself
Chapter practice questions and full-length mocks mirror the real exam.
05
Book your exam
Schedule online via authorized testing partners across India.
06
Earn your CWM® charter
International certification and membership of the global alumni network.
Faculty
◆Learn from practitioners, not presenters
Dr. Deepak Jain
Director & Co-founder, AAFM® India
25+ years in wealth management and estate planning. Author of 26 books on finance; has led AAFM India to train 45,000+ individuals including 30,000+ wealth managers.
Saurabh Jain
Faculty, AAFM® India
CA, CS, CFA, FRM, CFP (US), CWM®, CTEP, CISI (UK), CCRA, CIRA, AIM
A multi-credentialed finance professional bringing deep expertise across accounting, risk, wealth management and estate planning.
Himanshu Patodi
VP – HSBC Bank
CWM, CTEP, IIM-Mumbai
A transformational leader with 2 decades of experience in global premier banking, designing wealth strategies that bridge borders, insights and legacies.
The curriculum: 20 units, two levels, one integrated framework
Foundation builds your base across markets, tax, insurance, banking, financial planning, and estate transfer. Advanced develops specialist depth in analysis, alternatives, behavioral finance, and portfolio strategy. Every unit maps directly to the CWM® certification exams.
Level - 1 98 Lessons 00:00:00
Unit 1 - Economic Analysis & Forecasting
12 Lessons
00:00:00 Hours
-
Chapter 1 - Global Financial Systems
.
-
Chapter 2 - Economic Unions
.
-
Chapter 3 - The International Financial Institutions
.
-
Chapter 4 - Types of Financial Markets within the Global Financial System
.
-
Chapter 5 - Introduction to Macro Economics
.
-
Chapter 6 - Inflation and Interest Rates
.
-
Chapter 7 - National Income Accounting
.
-
Chapter 8 - Government and Fiscal Policy
.
-
Chapter 9 - Money and Monetary Policy
.
-
Chapter 10 - The External Sector
.
-
Chapter 11 - The Balance of Payments
.
-
Chapter 12 - The Future of the Global Financial System
.
Unit 2 - Portfolio and Investment Policy Management
11 Lessons
00:00:00 Hours
-
Chapter 1 - Introduction to PM
.
-
Chapter 2 - Investment Risk
.
-
Chapter 3 - Types of Investment Returns
.
-
Chapter 4 - Measures of Risk
.
-
Chapter 5 - Managing Risk Through Diversification
.
-
Chapter 6 - Asset Pricing Models
.
-
Chapter 7 - Asset Allocation
.
-
Chapter 8 - Equity Portfolio Management
.
-
Chapter 9 - Fixed Income Portfolio Management
.
-
Chapter 10 - Rebalancing Strategies
.
-
Chapter 11 - Asset Liability Management of Individual Investors
.
Unit 3 - Study of Investment Vehicles
9 Lessons
00:00:00 Hours
-
Chapter 1 - Understanding Investments
.
-
Chapter 2 - Types of Bank Deposits
.
-
Chapter 3 - Investments in Equity
.
-
Chapter 4 - Fixed Income Instruments
.
-
Chapter 5 - Real Estate
.
-
Chapter 6 - Mutual Funds
.
-
Chapter 7 - Derivatives
.
-
Chapter 8 - Small Savings Scheme
.
-
Chapter 9 - Other Investment Products
.
Unit 4 - Corporate Finance Management
8 Lessons
00:00:00 Hours
-
Chapter 1 - Understanding Corporate Finance
.
-
Chapter 2 - Capital Budgeting
.
-
Chapter 3 - Cost of Capital
.
-
Chapter 4 - Working Capital
.
-
Chapter 5 - Corporate Governance
.
-
Chapter 6 - Capital Structure
.
-
Chapter 7 - Leverage
.
-
Chapter 8 - Dividend Policy
.
Unit 5 - Financial Modeling & Analysis
9 Lessons
00:00:00 Hours
-
Chapter 1 - Introduction to Financial Statement
.
-
Chapter 2 - Financial Reporting Mechanisms
.
-
Chapter 3 - Tools of Analysis of Financial Statements
.
-
Chapter 4 - Understanding Income Statements
.
-
Chapter 5 - Balance Sheet
.
-
Chapter 6 - Cash Flow Analysis
.
-
Chapter 7 - Inventory
.
-
Chapter 8 - Long Lived Assets
.
-
Chapter 9 - Income Taxes
.
Unit 6 - Security Analysis
10 Lessons
00:00:00 Hours
-
Chapter 1 - Equity Markets and Structures
.
-
Chapter 2 - Fundamental Analysis
.
-
Chapter 3 - Industry Analysis
.
-
Chapter 4 - Company Analysis
.
-
Chapter 5 - Models of Equity Valuation
.
-
Chapter 6 - Technical Analysis
.
-
Chapter 7 - Type of Charts
.
-
Chapter 8 - Technical Indicators
.
-
Chapter 9 - Other Technical Indicators
.
-
Chapter 10 - Theories of Technical Analysis
.
Unit 7 - Study of Alternative Investment Products
9 Lessons
00:00:00 Hours
-
Chapter 1 - Derivatives-Options and Swaps
.
-
Chapter 2 - Alternate Assets
.
-
Chapter 3 - Hedge Funds
.
-
Chapter 4 - Commodities and Managed Futures
.
-
Chapter 5 - Private Equity
.
-
Chapter 6 - Credit Derivatives
.
-
Chapter 7 - Structured Products
.
-
Chapter 8 - Alternatives and Risk Mitigation
.
-
Chapter 9 - Alternate Assets in India
.
Unit 8 - Real Estate Valuation and Analysis
10 Lessons
00:00:00 Hours
-
Chapter 1 - Introduction to Real Estate
.
-
Chapter 2 - Categories of Real Estate
.
-
Chapter 3 - Real Estate Indices
.
-
Chapter 4 - Real Estate Financing
.
-
Chapter 5 - Real Estate Markets and Analysis
.
-
Chapter 6 - Real Estate Valuation
.
-
Chapter 7 - Issues in Real Estate Valuation
.
-
Chapter 8 - Real Estate Investment Trust (REIT) and REMS
.
-
Chapter 9 - Integration of Real Estate in a Portfolio
.
-
Chapter 10 - Real Estate Sector of India
.
Unit 9 - Advanced Techniques and Strategies in PM
10 Lessons
00:00:00 Hours
-
Chapter 1 - Portfolio Selection
.
-
Chapter 2 - Financial Mathematics
.
-
Chapter 3 - Portfolio Revision
.
-
Chapter 4 - Performance Evaluation of P
.
-
Chapter 5 - Forecasting of Portfolio P
.
-
Chapter 6 - Portfolio Management S
.
-
Chapter 7 - Commodity Market
.
-
Chapter 8 - Foreign Portfolio Investment
.
-
Chapter 9 - International Investing
.
-
Chapter 10 - Guidelines for Investment
.
Unit 10 - Legalities of Portfolio Management
10 Lessons
00:00:00 Hours
-
Chapter 1 - SEBI Portfolio Managers Regulations
.
-
Chapter 2 - Investment Advisers Regulations
.
-
Chapter 3 - Issue of Capital and Disclosure RR
.
-
Chapter 4 - Listing Obligations and Disclosure RR
.
-
Chapter 5 - Mutual Funds Regulations
.
-
Chapter 6 - Alternative Investment Fund Regulations
.
-
Chapter 7 - Infrastructure Investment Trusts Regulations
.
-
Chapter 8 - Foreign Portfolio Investors Regulations
.
-
Chapter 9 - Anti Money Laundering
.
-
Chapter 10 - International Regulatory Framework
.
Our alumni work at India's leading wealth institutions
CWM® charterholders serve in private banking, wealth advisory, financial planning, and portfolio roles across these organizations — part of a 300,000+ global alumni network.
Your charter — tangible, verifiable, yours
Verified in seconds
Every CPM® charter can be verified online by employers and clients at AAFM India's official verification page. Your designation is a credential, not a claim — and verification is what separates the two. Use the CPM® mark after your name on your resume, LinkedIn, business card and client communication. Certificates are issued from the USA under American Academy of Financial Management® international standards. CertificationValidityChecks
One route, one charter
Eligibility & pathways
What certification requires
A bachelor's degree from a recognised institution is required at the time the certification is conferred, so final-year students can enrol now and be certified after graduating. Candidates must also pass the CPM® examination and agree to the AAFM® code of ethics.
Earn it, don’t buy it
The certification exams
CWM® is a designation you earn. Here is exactly how.
Question
Answer
How many exams?
One examination covering the full 10-unit curriculum.
Exam duration
3 hours.
Where is it booked?
Through AAFM® India's authorised testing process.
Certificate
Issued from the USA under American Academy of Financial Management® international standards.
The counsellor call, replaced
Fees, exams & eligibility — answered
Everything you'd normally ask a counselor, answered here.
Fees and enrollment
CPM® is a professional certification in investment and portfolio management, conferred under American Academy of Financial Management® standards and delivered in India by AAFM® India. It covers a 10-unit curriculum running from economic analysis and security valuation through asset allocation, alternatives and performance evaluation to India's portfolio management regulations.
CWM® is built around managing a client's overall financial life — planning, tax, insurance, estate transfer and advisory. CPM® is built around the investment decision itself: how portfolios are constructed, allocated, monitored and evaluated. If your work centres on analysing and managing investments, CPM® is the closer fit. Many professionals eventually hold both.
Research analysts, dealers, PMS and asset management executives, brokers and sub-brokers, investment consultants, RIAs and distributors moving into investment management, CAs and CSs extending into investments, and finance students targeting analyst or buy-side roles.
A general finance course teaches topics. CPM® teaches a process. The units are sequenced the way a portfolio manager works — establish the environment, set the policy, analyse the security, allocate the assets, measure the outcome — so the knowledge connects rather than sitting in separate boxes.
Exams and eligibility
To build an investment policy statement; to analyse economies, industries, companies and financial statements; to value equity using multiple models; to allocate across asset classes using asset pricing frameworks; to place alternatives and real estate within a portfolio; to rebalance and evaluate performance; and to work within SEBI's portfolio management framework.
No. The curriculum begins with the fundamentals of the financial system and investment vehicles before moving into analysis and portfolio construction. A financial calculator is useful throughout.
Online, through the AAFM® India learning portal — 109 lessons across 10 units, accessible on mobile and desktop, with unit-wise quizzes. Access activates within 24 hours of enrolment and runs for 12 months.
This depends on your pace. Registration is valid for 365 days and can be renewed, and certification must be completed within three years of first registration.
Anyone who has passed Class 12. A bachelor's degree is required at the point the certification is conferred, so final-year students can begin now.
One examination of three hours covering the full curriculum, booked through AAFM® India's authorised testing process.
₹28,000 + 18% GST, which comes to ₹33,040. This includes your registration and 12 months of courseware access.
Investment research, portfolio management, asset management, portfolio management services, investment advisory, alternative investments and capital markets roles. CPM® builds knowledge relevant to these areas; AAFM® India does not guarantee employment or salary outcomes.
All fees are non-refundable once paid. We state this upfront so you can decide with complete information.
Global community
◆ AAFM®-certified professionals practise in the world’s major financial centres
Not sure whether CPM® or CWM® fits you?
If your work centres on investments and portfolios, CPM® is the specialist route. If it centres on the client's overall financial life, CWM® is. A career expert can talk it through in ten minutes.
Talk to a Career Expert →Self-paced or live
◆Choose your Study Mode
Two ways to earn the CWM® charter. Both include your student registration fee and 12-month LMS access, both lead to the same charter, and exam fees are separate.
Study on your own schedule
₹34000
+ 18% GST
₹40120 payable today
Join a global network of 300,000+ certified professionals.
Everything you need to decide is on this page — the full curriculum, the exam, the fee and where the knowledge applies. Enrollment takes five minutes and your learning portal opens within 24 hours.
Enroll in CPM® Today →
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