NISM MUTUAL FUND DISTRIBUTORS LEVEL TWO COURSE

I. Mutual Fund Structures

• Fund of Funds
• Exchange Traded Funds
• Real Estate Mutual Funds
• Venture Capital Funds
• Private Equity Funds
• International funds

II. Legal and Regulatory Environment of Mutual Funds

• Regulatory Framework for Real Estate Mutual Funds
• Investment Norms for Mutual Funds
• SEBI Norms for Mutual Funds’ investment in Derivatives
• SEBI norms with respect to change in controlling interest of an AMC
• Changes in Mutual Fund Schemes

III. Fund Distribution and Sales Practices

• Internet and Mobile Technologies
• Stock Exchanges

IV. Investment and Risk Management

• Fundamental Analysis
• Technical Analysis
• Quantitative Analysis
• Debt Investment Management
• Issues for a Debt Fund Manager
• Derivatives
• Application of Derivatives

V. Valuation of Schemes

• Equities
• Debt
• Non-Performing Assets and Provisioning for NPAs
• Gold
• Real Estate

VI. Accounting

• Net Asset Value
• Investor Transactions
• Distributable Reserves
• Unique Aspects of Real Estate Schemes Accounting 

VII. Taxation

• Taxes for AMCs: Securities Transaction Tax and Income Distribution Tax
• Taxes for Investors: Securities Transaction Tax, Taxes on Dividend, Capital Gains, Set-off and Carry Forward of Losses, Dividend Stripping and Bonus Stripping.

VIII. Investor Services

• New Fund Offer
• Open-end Fund
• Closed-end Fund
• Exchange Traded Fund
• Nomination and Pledge

IX. Scheme Evaluation

• Measures of Return
• Measures of Risk
• Benchmarks and Relative Returns
• Risk-adjusted Returns
• Limitations of Quantitative Evaluation

X. Asset Classes and Alternate Investment Products

• Historical Returns
• Perspectives on Asset Class Returns
• Alternative Investment Products

XI. Cases in Financial Planning

• Practical Aspects of Financial Planning (cases/examples)

XII. Ethics and Investor Protection

• Code of Conduct
• Mis-selling
• Safeguards in Mutual Fund Structure
• Regulatory Steps for Protecting Investors Against Fraud