NISM Series XIX-A case studies
NISM Series XIX-A · Put your knowledge to work in context.
NISM Series XIX-A is the Alternative Investment Funds (Category I and II) Distributors Certification Examination, one of a family of NISM certification examinations covering alternative investment funds. The source material confirms the exam's existence and its full official name, and lists it within the Alternative Investment Funds group alongside NISM Series XIX-B (Category III distributors), XIX-C (AIF managers), XIX-D (Category I and II AIF managers) and XIX-E (Category III AIF managers). The NISM Series XIX-A case studies are 5 cases and about 2,864 words.
1Minimum Ticket, Joint Subscription and an Unverified Accreditation Claim
An AIF distributor is onboarding a first-time investor for a close-ended Category II private equity fund whose private placement memorandum sets a minimum commitment of Rs 1 crore and a maximum of 1,000 investors. The investor has Rs 60 lakh of liquid savings and wants to commit immediately.
492 words, about 2 min2Commission Conflict and Gross-IRR Comparison
An investor with Rs 3 crore to allocate is comparing two Category II funds. Fund A has a target gross IRR of 15%, a 2% upfront distributor commission and a 20% performance fee.
501 words, about 3 min3Follow-on Investment Breaching the 25% Limit and an Early Redemption Request
A Category I venture capital fund has a corpus of Rs 250 crore and a declared tenure of eight years. It has already deployed Rs 60 crore in one portfolio company, representing 24% of the corpus.
651 words, about 3 min4Public Advertisement, Assured Returns and Unregistered Sub-Agents
A wealth firm wants to launch a marketing campaign for a Category II debt fund. The draft newspaper advertisement says: AIF for everyone, 8% assured returns, minimum investment Rs 25 lakh, cash and cheque accepted, 3% commission to sub-distributors.
598 words, about 3 min5Retiree Suitability, Capital-Protection Claim and an Illiquid Five-Year Fund
A 68-year-old retiree has Rs 1.6 crore in savings and a monthly pension of Rs 25,000. She needs about Rs 60,000 per month for household expenses and has no separate emergency fund.
622 words, about 3 min