NISM Alternative Investment Funds Managers PAPER XIXC

Alternative Investment Fund Managers is Taxmann’s official NISM workbook on how an AIF actually runs in India, from the day it is structured to the day it is wound up. Where most treatments describe, this one computes: fee waterfalls, IRR and PME, NAV and Series NAV, and tax liability at both the fund and unitholder levels, with figures, and every regulatory statement is footnoted to the circular behind it. Seventeen chapters carry the reader from portfolio theory to 87 pages on the SEBI (AIF) Regulations, supported by 48 worked examples, 21 comparative tables and three annexures drafted for direct use. The March 2026 version is current to circulars of 4 March 2026, including the pro-rata and pari-passu framework, the dissolution period and the liquidation scheme. It is the prescribed workbook for NISM-Series-XIX-C, the certification SEBI requires within every AIF Manager’s key investment team, and a working desk reference for everyone else around the fund.