UMass Amherst Master of Finance in Alternative Investments (MFAI)


The Department of Finance at the Isenberg School of Management is pleased to announce the launch of a first of its kind program - The Master of Finance in Alternative Investments (MFAI). Built upon the strengths of the Finance faculty at Isenberg, including top-notch research and teaching in alternatives, the Isenberg School is the home of the Center for International Securities and Derivatives Markets (CISDM) and co-founder of the Chartered Alternative Investment Analyst Association (CAIA) professional designation. In addition, the Finance faculty has taken editorial leadership for the Journal of Alternative Investments (JAI), the outlet for the latest AI research.

As shown below, the MFAI is a 10-course live instructional program beginning in September 2019, and the successful candidate will complete the degree over three consecutive semesters in residence. The MFAI program has been designated as STEM (Science, Technology, Engineering and Mathematics) so that graduates are granted up to three years of Optional Practical Training (OPT) in the US upon completion of the program to facilitate job placement. Students graduated from this program will be waived for CAIA Level 1 exam and are qualified for applying for scholarship in reduced exam fees for taking CAIA Level 2 exam.

Fall Term 2019:
Financial analysis and decision-making (Hossein Kazemi) SCH-MGMT 640
Business data analysis and statistical methods (Bob Nakosteen) SCH-MGMT 650
Derivative strategies and risk management (Nikunj Kapadia) SCH-MGMT 681
Alternative investments (Mila Getmansky Sherman) SCH-MGMT 508

Spring Term 2020:
Hedge funds (Bing Liang) SCH-MGMT 682
Private equity and venture capital (Hossein Kazemi) SCH-MGMT 683
Sustainable finance: Environmental, social, and governance issues on capital markets (Theresa Gusman & Sanjay Nawalkha) SCH-MGMT 684
Emerging markets (Nikos Artavanis) SCH-MGMT 685

Summer Term 2020:
Real assets: Real estate, infrastructure and beyond (Ginnie Gardiner) SCH-MGMT 686
Managing the managers: Asset allocation, funds of hedge funds, and due diligence (Keith Black from CAIA, Amherst) SCH-MGMT 687

Isenberg School is one of the best public business schools in the US, embedded in one of the nation’s top public research universities. The Online MBA Program at the Isenberg School is ranked #3 worldwide by Financial Times (2018), the Undergraduate Business Program is ranked #1 in public universities in the Northeast by U.S. News & World Report (2019). The Town of Amherst is rated as one of the most livable college towns in the US.

For more information, please visit the program website: