NISM 19B AIFD Distributors Certification Exam Notes

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  • RBI Liberalization: 2015 FEMA notification allowed foreign investors, including NRIs, to invest in AIFs.
  • AIPAC Recommendations: Led by Narayan Murthy, aimed to improve tax regimes and attract domestic institutional investors.
  • TER Rationalization: SEBI amendments encouraged mutual fund managers to launch Category III AIFs with flexible fee structures.
  • Performance-Based Fees: Category III AIF managers can charge fees on returns above a hurdle rate, unlike mutual funds.
  • Operational Guidelines: SEBI monitors Category III AIFs for compliance with leverage and prudential norms.

NISM 19B AIFD Distributors

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