NISM 19D Alternative Investment Fund Managers Certification Exam Notes

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  • Valuation Challenges: Complex for unlisted and illiquid assets.
  • DCF Components: Include free cash flows, WACC, and terminal value.
  • Terminal Value: Estimates value beyond forecast period in DCF.
  • WACC: Weighted average cost of capital used in DCF valuation.
  • Market Multiples: Used for quick valuation based on comparable firms.

NISM 19D Alternative Investment Fund Managers

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