📘 Category III Alternative Investment Fund (AIF) Managers Workbook | 2025 Edition
✒️ Language: English | Publisher: Taxmann

The 2025 Edition of Category III Alternative Investment Fund Managers Workbook is a specialised, exam-oriented and practice-focused guide for professionals managing hedge funds and complex trading strategies under SEBI’s AIF Regulations, 2012. Designed in alignment with NISM’s certification framework, this workbook provides conceptual clarity, regulatory guidance, and practical illustrations across the entire lifecycle of Category III AIFs.

🔍 Key Features:

• 🎯 [Exam-Oriented] – structured as per NISM’s prescribed syllabus, complete with chapter-end questions, MCQs, and caselets for practice.

• 📊 [Category III Focus] – detailed coverage of hedge fund structures, investment strategies, leverage, derivatives, short selling, and risk management.

• ⚖️ [Regulatory Compliance] – extensive treatment of SEBI (AIF) Regulations, 2012, FEMA, PMLA, taxation, disclosure norms, and compliance checklists.

• 💼 [Fund Lifecycle] – from structuring, registration, governance, and investor agreements to monitoring, valuation, reporting, and exit strategies.

• 📚 [Practical Insights] – illustrations on performance benchmarking, valuation (NAV, derivatives, and complex assets), co-investments, and conflict management.

• 🆕 [Updated 2025 Edition] – reflects the latest amendments, regulatory updates, and international best practices.

📖 Coverage of the Workbook:

Section A – Introduction & Basics of Investments

• Role of AIFs in capital markets; basics of alternative assets and risk-return objectives

Section B – Category III AIF Structures & Strategies

• Hedge fund strategies (long/short equity, arbitrage, event-driven, macro, quantitative models)

• Fund structures, leverage, derivatives usage, and risk frameworks

Section C – Governance, Operations & Valuation

• Manager duties, trustee responsibilities, and governance standards

• Valuation of complex portfolios, NAV disclosures, and role of third-party valuers

Section D – Legal, Regulatory & Tax Framework

• SEBI (AIF) Regulations, FEMA guidelines on foreign participation, PMLA obligations, and FATCA/CRS reporting

• Taxation of Category III funds, set-offs, and cross-border implications

Section E – Practice & Examination Support

• MCQs, caselets, solved illustrations, and model test papers aligned with NISM exam expectations

🎯 Recommended For:

• Category III AIF Managers and their investment, risk, and compliance teams

• Hedge fund professionals, portfolio managers & research analysts

• Legal & compliance consultants, accountants, and valuation experts servicing AIFs

• Students & aspirants preparing for NISM’s AIF certification exam

• Policy researchers, regulators & academicians studying private capital markets

This 2025 Edition of Category III Alternative Investment Fund Managers Workbook, published by Taxmann, is a definitive reference and training resource, combining exam-focused clarity with practical industry insights—an indispensable companion for professionals in India’s hedge fund and alternative asset space.