NISM Certification Requirements Before Launching an Alternative Investment Fund (AIF)
Understanding Mandatory Examinations for AIF Managers & Compliance Officers The Securities and Exchange Board of India (SEBI), through various circulars and the National Institute of Securities Markets (NISM), has prescribed mandatory certification requirements for key personnel involved in the management and compliance of Alternative Investment Funds (AIFs). These certifications ensure that fund managers and compliance professionals possess adequate regulatory, operational, and risk management knowledge before managing investor capital. This article explains which NISM examination is required for which role and for which category of AIF , and why these certifications are mandatory before commencing AIF operations. 1. Certification Requirements for AIF Fund Managers / Key Investment Team A. Category I & Category II AIFs Applicable Examination: ✅ NISM-Series-XIX-D: Category I and II Alternative Investment Fund Managers Certification Examination Applicab...