Description
The NISM Series XIX-B exam aims to improve the caliber of sales and distribution as well as enable higher caliber investor services by establishing a baseline knowledge standard for individuals operating as distributors or placement agents in the Alternative Investment Fund industry in India.
The exam provides an overview of:
- Alternative asset classes
- Indian alternative investment funds
- Roles and responsibilities of different AIF ecosystem participants (including sponsors, investment management companies, distributors, and investors).
Alternative Investment Funds (III Categories) Distributors aim to establish a uniform minimum knowledge standard for individuals operating within the Alternative Investment Fund industry in India, whether they are
- Distribution Agents or
- Placement Agents.
It also seeks to improve investor services and the caliber of sales and distribution.
Highlight
In-depth discussions of Category III AIFs, their applicability, and associated regulations are covered in the exam including:
- Synopsis of Alternative Asset Classes
- The growth of alternative investment funds in India and the appropriateness of category III AIFs
- Overview of Category II, Part II AIF Ecosystem
- Fund Structures and Service Providers, Category III AIF
- Regulatory Structure
- Benchmarking, Fund Performance, And Fee Structure
- Category Iii AIF Investment Techniques and the Process of Due Diligence
- Valuation
- Income Tax
- Good Practices
Objective
The candidate will be able to understand the fundamentals of the Indian markets for Alternative Investment Funds (Category III) and other alternative asset classes, including:
- The role of external service providers of AIF and its ecosystem (Category III).
- Category III AIFs' Function as an Instrument for Risk Management.
- Funding structure, fee structure, methods of measuring performance and how they are interpreted, significance, and function of performance benchmarking.
- Due diligence process and employ a variety of investment strategies.
- NAV concept, applied valuation methods, and function of third-party registered valuers.
- Different aspects of taxation in both domestic and IFSC jurisdictions.
- Roles and behavior of distributors in providing investor services.
- Understand the regulatory framework that governs the operations of AIFs (Category III) in India.
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