NISM 19A AIF Distributors Certification Exam Notes

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  • Commodities: Hard commodities like metals and oil are used as alternative investments, often as inflation hedges.
  • Derivatives: Speculative contracts based on equities, commodities, or currencies, traded OTC or on exchanges.
  • Hedge Funds: AIFs using complex strategies, leverage, and derivatives, excluded from this workbook’s scope.
  • Venture Capital History: Originated post-Industrial Revolution, institutionalized in the US in the 1940s-50s.
  • Portfolio Diversification: Modern portfolio theory advocates alternative investments to reduce risk via diversification.

NISM 19A AIF Distributors

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