The IFSE Institute, the educational arm of the Investment Funds Institute of Canada (IFIC), announced that it has launched a new Investing in Alternative Mutual Funds and Hedge Funds course, which provides new registrants with the foundations needed to understand and sell alternative mutual funds and hedge funds.  

When combined with the Canadian Investment Funds Course, the new alternative funds course will fulfill the proficiency requirements needed for advisors to be able to offer alternative mutual funds to clients. The move comes after the Canadian Securities Administrators (CSA) issued temporary exemptions from National Instrument 81-104 Alternative Mutual Funds which spells out mandatory proficiency requirements for distributing alternative mutual funds.  

IFSE says the new course is designed for branch managers, administrators, assistants, partners, directors, operations and back office staff, and investment professionals and dealing representatives looking to sell alternative mutual funds and offer advice related to alternative mutual funds. 

The course will teach participants the key characteristics of alternative investment funds, their purpose, key benefits and risks, types of alternative funds, how they are different from conventional funds and how to invest in alternative investments. It will also discuss the current regulatory environment for alternative investments in Canada, know your product obligations, investor suitability and taxation. Fees for the alternative mutual funds course (not including the Canadian Investment Funds Course) range from $165 to $185, plus printed textbook costs.