NISM 19D Alternative Investment Fund Managers Certification Exam Notes

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  • Hurdle Rate Calculation: Based on committed capital or NAV, as specified.
  • High-Water Mark Mechanism: Prevents double-charging on recovered losses.
  • Performance Fee Models: Include deal-by-deal or whole-fund approaches.
  • Catch-Up Clause: Allows managers to receive a portion of profits post-hurdle.
  • Fee Variability: Depends on fund size, strategy, and investor agreements.

NISM 19D Alternative Investment Fund Managers

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