NISM 19B AIFD Distributors Certification Exam Notes
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First Close: Marks the start of fund operations with initial capital.
Final Close: Deadline for accepting investor commitments.
Dematerialisation: AIF units must be held in demat form for transparency.
Open-Ended vs. Close-Ended: Category III AIFs are typically close-ended.
Listing of Funds: Close-ended funds can be listed on exchanges for liquidity.
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