NISM Certification

In line with SEBI's directive and in partnership with the National Institute of Securities Markets (NISM), IVCA has helped develop a new certification framework for AIF managers in India. The updated exams are more structured, relevant, and practical for professionals across all AIF categories.

Newly Introduced Modules

• Series-XIX-D: Certification for Category I & II AIF Managers
• Series-XIX-E: Certification for Category III AIF Managers

IVCA's Contribution to Content Reform

Responding to SEBI and NISM's call for industry consultation, IVCA led a comprehensive feedback initiative involving its members and industry experts. The goal was to ensure that the revised exam content, structure, and focus areas reflect current fund management practices and real-world expectations.

Through our advocacy efforts, we successfully engaged with SEBI to introduce a Continuing Professional Education (CPE) option for the renewal of NISM certifications. This allows professionals to revalidate their certification through a CPE program, eliminating the need to retake the exam. SEBI also agreed to extend the deadline for AIF fund managers to obtain and submit the requisite NISM certification from May 13, 2025, to July 31, 2025.