NISM Series XIX-E (Cat III AIF) case studies
NISM Series XIX-E (Cat III AIF) · Put your knowledge to work in context.
The NISM-Series-XIX-E: Category III Alternative Investment Fund Managers Certification Examination is one of the certification examinations offered under the Alternative Investment Funds family in the NISM certification catalogue, alongside the Series XIX-A, XIX-B, XIX-C and XIX-D examinations and the NISM Series XIX-C Alternative Investment Fund Managers CPE/eCPE programme. It is aimed at professionals who manage, administer, or support Category III alternative investment funds - the AIF category associated with complex trading strategies and leveraged positions - and who are expected to understand the regulatory framework, eligibility and registration obligations, investment strategies, risk management, valuation, disclosure, investor protection, operations, accounting, taxation, and ethical conduct applicable to such managers. The NISM Series XIX-E (Cat III AIF) case studies are 5 cases and about 2,786 words.
1Term Sheet Defects in a New Open-Ended Category III Fund
Arka Capital is drafting the term sheet for its first Category III AIF. The fund will have a ₹60 crore corpus, 120 investors and an open-ended structure with monthly redemptions.
604 words, about 3 min2Registration Eligibility and Outsourced Risk Monitoring for a Category III Manager
Nexus Advisors LLP has applied to SEBI for registration as a Category III AIF manager. Its net worth is ₹6 crore, comprising ₹4 crore of tangible assets and ₹2 crore of a subordinated loan from a partner.
558 words, about 3 min3Leverage Breach After a NAV Fall in a Long-Short Fund
Meridian Capital runs an open-ended Category III AIF with NAV of ₹80 crore, down from ₹100 crore three months ago. The fund is long ₹60 crore of cash equities and has ₹140 crore notional of listed derivatives, of which ₹60 crore are short positions intended to hedge the cash book.
585 words, about 3 min4Stale Broker Quote, Rating Watch and Redemptions in a Concentrated Category III Portfolio
BlueRock Asset Management manages an open-ended Category III AIF with NAV of ₹200 crore. The portfolio holds ₹80 crore, or 40%, in unlisted unrated bonds of a single real estate group and ₹50 crore, or 25%, in convertible preference shares of one issuer.
523 words, about 3 min5Proprietary Trade, Performance Fee and Tax Misstatement by a Category III Manager
Orion Capital manages a Category III AIF and also runs a proprietary trading book. At 9:15 a.m., the portfolio manager buys 2 lakh shares of a mid-cap company for the proprietary book at ₹100.
516 words, about 3 min