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    NISM 19D
    Who is responsible for the formation and registration of an AIF with SEBI?

    How you’ll prepare

    01:24:36left
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    NISM 19D

    In a trust-based AIF structure in India, who appoints the Trustee?

    • ASponsor
    • BSEBI
    • CInvestors

    Timed mock tests

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    Investments Landscape48%
    Types of Investments62%
    Concept of Informational…76%
    Introduction to Modern…84%

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    NISM 19D Formula Sheet

    Investments Landscape

    Types of Investments

    Concept of Informational…

    NISM XIX-D Revision Notes

    Sponsor

    The Sponsor is the person or entity responsible for initiating the formation and registration process of the AIF with…

    Types of Investments

    Concept of Informational…

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    • NISM 19D mock test 4
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    • NISM 19D mock test 6
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    • NISM 19D mock test 7
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    • NISM XIX-D Revision Notes
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    • NISM 19D Formula Sheet
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    Mock Test Series
    NISM 19D
    Category I and II Alternative Investment Fund Managers
    Exam-level difficulty
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    7 full-length mock tests
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    Doubt solving on WhatsApp
    Performance analytics to identify weak areas
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    Syllabus covered

    17 sections · 146 topics · mock tests & practice

    Investments Landscape4 topics
    • Investment
    • Investment versus Speculation
    • Investment Objectives
    • Estimating the required rate of return
    Types of Investments6 topics
    • Traditional Investments Vs. Alternative Investments
    • Types of Traditional Investments
    • Types of Alternative Investments
    • Channels for making investments
    • Role of Alternative Investments in Portfolio Management
    • Alternative Investments – Antecedents and Growth
    Concept of Informational Efficiency5 topics
    • Informational efficiency Vs. Operational Efficiency
    • Efficient Capital markets and Random Walk Theory
    • Tests and Results of Efficient Market Hypotheses (EMH)
    • Market Anomalies
    • Implication of market efficiency on Valuation and Portfolio Management
    Introduction to Modern Portfolio Theory10 topics
    • Framework for constructing portfolios - Modern Portfolio Theory
    • Assumptions of the theory
    • Definition of risk averse, risk seeking and risk neutral investor
    • Expected rate of return for individual security
    • Variance of return for individual security (Ex-Ante Risk)
    • Expected rate of return for a portfolio: (Ex-Ante Return)
    • Variance of return for a portfolio
    • Efficient Frontier
    • Portfolio Optimization process
    • Estimation issues
    Introduction to Capital Market Theory9 topics
    • Introduction to Capital Market Theory
    • Assumptions of Capital Market Theory and the implication of relaxing these assumptions
    • Capital Market Line
    • Diversification of risk and market portfolio
    • Types of risk – Market and Non-market risk
    • Capital Asset Pricing Model, CAPM
    • Security Market Line
    • Empirical test of CAPM
    • Multi factor models of risk and return
    Alternative Investment Funds in India and its Suitability8 topics
    • Evolution and Growth of AIFs in India and Factors enabling preference for Indian AIF market
    • Types of AIFs
    • Comparison of Categories
    • Suitability of AIF products to Investors
    • Current AIF Market in India
    • Comparison between Category III AIF and Traditional Investments
    • Role of AIFs in Portfolio Diversification
    • AIF as a Risk Management Tool
    Alternative Investment Fund Ecosystem1 topic
    • Concepts prevalent in the AIF industry
    Alternative Investment Fund Structuring6 topics
    • Principle of 'Pooling'
    • General 'Pooling' Considerations
    • Buy-out Transactions
    • Anatomy of AIF Constitution
    • Common Fund structures of AIF
    • Comparative Analysis
    Fee Structure and Fund Performance10 topics
    • Management Fees and Other Expenses
    • Hurdle Rate
    • High-Water Mark
    • Risks in AIF
    • Types of Risks in AIFs
    • Risk Measures
    • Return Measures in Alternative Investments
    • Pre and Post Tax Returns
    • Risk-adjusted Return Metrics and Performance Measures
    • Worked out Case
    Indices and Benchmarking8 topics
    • Index
    • Uses of Indices
    • Factors differentiating the indices
    • Index Methodologies
    • Stock market indices
    • Bond Market Indices
    • Stock-Bond (Composite) Indices
    • Performance Benchmarking
    Investment Strategies, Investment Process and Governance of Funds11 topics
    • Investment Strategies used by Category I and II AIFs
    • Investment Strategies used by Category III AIFs
    • Deal Sourcing
    • Investor Due Diligence
    • Definitive Agreements
    • Investor Protection Rights in Category I and II AIFs
    • Regulation on Governance Structure in AIF
    • Role of Human Capital in avoiding Conflict of Interests
    • Co-investments in AIFs
    • Code of Conduct of Investment Managers of AIFs and Investment Committee
    • Industry best practices
    Fund Due Diligence – Investor Perspective7 topics
    • Fund Due Diligence
    • Investment Due Diligence by Investors
    • Manager Evaluation
    • Manager Selection
    • Key Man Clause
    • Due Diligence on other Legal Documents
    • Mitigation of Conflict of Interest
    Legal Documentation and Negotiations7 topics
    • Introduction
    • The Trust Document / Limited Liability Partnership Deed / Memorandum and Articles of Associations
    • The Investment Management Agreement
    • The Subscription (Investor Contribution) Agreement
    • Private Placement Memorandum
    • Wrapper
    • Support Services Agreements
    Valuation12 topics
    • Introduction
    • Valuation Basics for Fixed Income Instruments
    • Approaches to Equity Valuation
    • Approaches to Business Valuation
    • Asset based Valuation
    • Discounted Cash Flow (DCF) Valuation
    • Relative or Multiple based Valuation
    • Valuation of AIF Portfolio Investments (Investee Companies)
    • General Approach to Fund Valuation
    • Net Asset Value (NAV)
    • Valuation Techniques
    • Computation of NAV for a Category III AIF vs. NAV attributable to a series of units issued to investors
    Fund Monitoring, Reporting and Exit7 topics
    • Monitoring Alternative Investment Fund Progress and Performance
    • Regulatory Framework for Fund Monitoring and Reporting
    • Fund Reporting
    • Exit Options
    • Secondary Exits (Secondaries)
    • Winding Up of an AIF
    • Liquidation Scheme
    Taxation8 topics
    • Taxation of Category I and Category II AIFs
    • Taxation of Category III AIF
    • Surcharge Rates
    • Set off and carry forward of loss under the ITA
    • GAAR
    • MLI
    • Other applicable taxes
    • Examples
    Regulatory Framework27 topics
    • Registration Process and Eligibility Criteria
    • Sponsor / Manager Commitment
    • Concept of Open-ended and Close-ended Funds
    • Accredited Investor Framework
    • First Close, Final Close and Tenure of Funds / Schemes
    • Investors' subscription to the Fund/Scheme
    • Dematerialization of AIF Units
    • Raising Corpus Capital
    • Investment Conditions applicable to AIFs
    • Guidelines on Operational, Prudential and Reporting Norms for Category III AIFs
    • General Obligations and Responsibilities of AIFs
    • Inspection
    • Code of Conduct for AIFs
    • Market Surveillance by AIFs
    • Exemption from enforcement of the regulations in special cases
    • Periodic Disclosures and Reporting
    • FDI and its Economic Significance
    • Investment Framework under FEMA
    • Inbound Foreign Investment Routes
    • Foreign Investments in AIFs
    • Overseas Investments by AIFs
    • Regulatory Oversight (PMLA)
    • SEBI (Prohibition of Insider Trading) Regulations, 2015
    • SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 2003
    • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
    • SEBI (Foreign Portfolio Investors) Regulations, 2019
    • Foreign Account Tax Compliance Act and Common Reporting Standard

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    You get 7 full-length mocks.

    Is this aligned with the official NISM Series XIX-D syllabus?

    Our content targets the NISM Series XIX-D: Category I and II Alternative Investment Fund Managers exam. Always verify against the latest NISM workbook and examination notice.

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