Syllabus for NISM Certification for Mutual Fund Distributor

1. Concept & Role of a Mutual Fund

1.1 Introduction
1.2 Types of Funds
1.3 Key Developments over the Years

2. Fund Structure & Constituents

2.1 Legal Structure of Mutual Funds in India
2.2 Key Constituents of a Mutual Fund
2.3 Other Service Providers

3. Legal & Regulatory Environment

3.1 Role of Regulators in India
3.2 Investment Restrictions for Schemes
3.3 Investors’ Rights & Obligations
3.4 Can a Mutual Fund Scheme go bust?
3.5 Appendix 1: AMFI Code of Ethics
3.6 Appendix 2: Code of Conduct for Intermediaries

4. Offer Document

4.1 Offer Document - NFO, SID, SAI
4.2 Key Information Memorandum
4.3 Appendix 3: Format of Scheme Information Document
4.4 Appendix 4: Format of Key Information Memorandum

5. Fund Distribution & Channel Management Practices

5.1 Distribution Channels
5.2 Channel Management Practices

6. Accounting, Valuation & Taxation

6.1 Accounting and Expenses
6.2 Valuation
6.3 Taxation

7. Investor Services

7.1 Mutual Fund Investors
7.2 KYC Requirements for Mutual Fund Investors
7.3 PAN Requirements for Micro-SIPs
7.4 Additional Documentation Requirements applicable for Institutional Investors
7.5 Demat Account
7.6 Transactions with Mutual Funds
7.7 Transactions through the Stock Exchange
7.8 Investment Plans and Services
7.9 Appendix 5: KYC Form for Individuals
7.10 Appendix 6: KYC Form for Non-Individuals

8 Return, Risk & Performance of Funds

8.1 Drivers of Returns in a Scheme
8.2 Measures of Returns
8.3 Drivers of Risk in a Scheme
8.4 Measures of Risk
8.5 Benchmarks and Performance
8.6 Quantitative Measures of Fund Manager Performance

9 Scheme Selections

9.1 How to choose between Scheme Categories?
9.2 How to select a Scheme within a Scheme Category?
9.3 Which is the Better Option within a Scheme?
9.4 Sources of Data to track Mutual Fund Performance

10 Selecting the Right Investment Products for Investors

10.1 Financial and Physical Assets
10.2 Gold – Physical or Financial?
10.3 Real Estate – Physical or Financial?
10.4 Fixed Deposit or Debt Scheme
10.5 New Pension Scheme
10.6 Other Financial Products

11 Helping Investors with Financial Planning

11.1 Introduction to Financial Planning
11.2 Alternate Financial Planning Approaches
11.3 Life Cycle and Wealth Cycle in Financial Planning

12 Recommending Model Portfolios & Financial Plans

12.1 Risk Profiling
12.2 Asset Allocation
12.3 Model Portfolios