New Delhi: In a boost to the Indian investment industry, the National Institute of Securities Markets (NISM) signed a memorandum of understanding with the CFA Institute and the Indian Association of Investment Professionals (IAIP).

Seven specific areas of cooperation were drawn up and they include important developmental components like Investor Education, Financial Literacy Training and Original Research.

Placing an emphasis on raising the knowledge level of Indian investment professionals, Ashvin P Vibhakar, managing director of CFA Institute (Asia Pacific), said, 'The Indian investment industry is rapidly growing and gaining influence in the world, and we look forward to work closely under this collaboration for raising the knowledge level of Indian investment professionals.'

The MoU will be effective for three years starting June 1 2009, and during this time, the three organisations will mutually work together to develop and deliver all seven areas of co-operation mentioned in the MoU.