NISM 19E Alternative Investment Fund Managers Certification Exam Notes

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  • Angel Funds: Sub-category of Category I, investing in early-stage startups.
  • Social Impact Funds: Category I AIFs focusing on social ventures with measurable impact.
  • Private Equity Funds: Category II AIFs investing in unlisted companies for long-term gains.
  • Leverage Limits: Category III AIFs can use leverage up to twice the NAV, per SEBI rules.
  • Investor Eligibility: AIFs target high-net-worth individuals and institutional investors.

NISM 19E Alternative Investment Fund Managers

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