NISM 19B AIFD Distributors Certification Exam Notes

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  • Regulatory Framework: SEBI’s 2012 regulations provided clarity and structure for AIF growth.
  • Foreign Investment: Category III AIFs with foreign sponsors are treated as foreign investments.
  • Performance Fees: Paid on additional returns above a reference hurdle rate, enhancing manager flexibility.
  • Domestic Investor Base: Includes banks, insurance companies, pension funds, and family offices.
  • Hedge Fund Characteristics: Include leverage, performance fees, periodic redemptions, and derivative use.

NISM 19B AIFD Distributors

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