NISM 19B AIFD Distributors Certification Exam Notes

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  • Liberalised Remittance Scheme: Introduced in 2004, allowing Indian residents to invest up to USD 250,000 in foreign securities by 2015.
  • FII Registration: Hedge funds could register as FIIs under SEBI with conditions like regulated advisors and 20% institutional corpus.
  • SEBI AIF Regulations: Introduced in 2012, classifying hedge funds as Category III AIFs with complex trading strategies.
  • Consolidation Phase: 2012–2019 saw growth in Category III AIFs, driven by reforms and market developments.
  • Ultra-Rich Investors: Indian billionaires increasingly invested in Category III AIFs during the consolidation phase.

NISM 19B AIFD Distributors

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