NISM 19A AIF Distributors Certification Exam Notes

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  • AIF Definition: SEBI defines AIF as a privately pooled investment vehicle for select investors, excluding mutual funds and other regulated entities.
  • Privately Pooled: AIFs pool funds from specific investors like institutions or HNIs, not the general public.
  • Excluded Entities: Family trusts, ESOPs, holding companies, and RBI-regulated funds are not considered AIFs.
  • Institutional Investors: Pension funds, insurance companies, and endowment funds are primary AIF investors globally.
  • HNI Investors: High net-worth individuals invest in AIFs for higher returns and portfolio diversification.

NISM 19A AIF Distributors

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