NISM Series 21A — Portfolio Manager
For PMS principal officers, fund managers, and analysts working in SEBI-registered Portfolio Management Services.
Quick info
- Layer
- NISM Certifications
- Track
- NISM Certifications
- Estimated hours
- 70 hrs
- Chapters
- 7
- Exam body
- NISM
- Cost on Trustner
- Free
The full chapter-by-chapter syllabus is published below so you know exactly what you're committing to. Individual lesson pages are being authored progressively over the coming weeks. Bookmark this page or browse all courses.
About this course
Mandated by SEBI for principal officers, fund managers, and analysts working in registered Portfolio Management Services (PMS).
Who this is for
- Aspiring PMS principal officers and key personnel.
- Equity research analysts moving into discretionary advisory.
- CFA / CFP holders adding the Indian PMS regulatory credential.
What you'll learn
- PMS regulatory framework, fees, and fee structures
- Discretionary vs non-discretionary mandates
- Performance attribution and reporting standards
- Compliance, code of conduct, and conflicts of interest
Full syllabus — 7 chapters
- 1Chapter 1
PMS in India
- Industry structure
- Discretionary, non-discretionary, advisory PMS
- 2Chapter 2
Investment process
- Mandate, IPS, allocation
- Security selection and review
- 3Chapter 3
Portfolio construction
- Concentration vs diversification
- Active risk and tracking error
- 4Chapter 4
Performance and attribution
- Time-weighted returns, attribution by source
- Benchmark selection
- 5Chapter 5
Risk management
- Position sizing, drawdown management
- Liquidity, valuation, custody risks
- 6Chapter 6
Regulation
- SEBI PMS Regulations
- Onboarding, KYC, AML, fee disclosure
- 7Chapter 7
Ethics and code of conduct
- Conflicts of interest
- Fair dealing, allocation between accounts
About the exam
- Provider
- NISM
- Duration
- 2 hrs
- Questions
- 80
- Pass mark
- 60%
The exam is administered by NISM. Trustner Academy is not affiliated with NISM; we provide independent preparatory educational material. See our disclaimer.
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