Alternative Investment Funds, Portfolio Management … Continue reading “AIF vs PMS vs Mutual Funds – Pooling | Minimum Investment | Lock-in”
PMS is classified three ways in India: by who provides it, by the asset class it invests in, and by how much control the client keeps. The third classification is the one the SEBI regulations turn on.
What a PMS client actually pays, item by item: management fee, custodian fee, brokerage at actuals, the 0.50% operating expense cap, graded exit loads, and how the high water mark and hurdle rate decide whether a performance fee arises at all.
NISM-Series-XXI-A is the Portfolio Management Services Distributors Certification Examination. Two hours, 100 marks, 60 per cent to pass, with 52 of those marks sitting in four units. Here is the exam pattern, the unit weightages and what the official workbook covers.
The six AIF pooling structures used in India, compared on pooling vehicle, applicable regulations, investor type and routing of investment, with the LRS limit, feeder fee mechanics and buy-out structures.
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