NISM Series XIX-B: Alternative Investment Funds (Category III) Distributors

The examination seeks to create a common minimum knowledge benchmark for persons working as Distributors or Placement Agents in Alternative Investment Fund domain in India and aims to enhance the quality of sales and distribution and enable better quality investor services. The examination focuses on Category III AIFs. NISM-Series-XIX-B is a voluntary examination.

Examination Objectives

On successful completion of the examination the candidate should:

  • Know the basics of alternative asset class and the Alternative Investment Funds (Category III) markets in India.
  • Understand the following in detail:
    • - Ecosystem of AIF (Category III) and role of its external service providers
    • - Role of Category III AIFs as a Risk Management Tool.
    • - Fund structure, fee structure, performance measurement techniques and its interpretations, importance and role of performance benchmarking.
    • - Various investment strategies involved and investment due diligence process followed by investors.
    • - Concept of NAV, valuation techniques used and role of third-party registered valuers.
    • - Various taxation aspects for the fund and its investors, in both domestic and IFSC jurisdictions.
    • - Role and conduct of distributors in servicing the investors.

Know the regulatory environment in which the AIFs (Category III) operate in India.

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