NISM 19E Alternative Investment Fund Managers Certification Exam Notes

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  • Global Exposure: AIFs provide access to international markets, subject to regulations.
  • Management Fees: Typically 1-2% of AUM, covering operational costs of the fund.
  • Performance Fees: Incentive fees (e.g., 20% of profits) charged after exceeding hurdle rates.
  • Hurdle Rate: Minimum return threshold before performance fees are applied.
  • Catch-Up Rate: Ensures managers receive a share of profits after hurdle rate is met.

NISM 19E Alternative Investment Fund Managers

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