{"product_id":"taxmanns-mutual-fund-distributors-book-by-national-institute-of-securities-markets","title":"Taxmann's Mutual Fund Distributors book by National Institute of Securities Markets","description":"\u003cp\u003e\u003cstrong\u003eTaxmann's Mutual Fund Distributors book by National Institute of Securities Markets\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eMutual Fund Distributors by NISM is a complete working text on the Indian mutual fund business: it builds the reader from investment first-principles—financial goals, asset classes, risk and asset allocation—through the legal and regulatory architecture of mutual funds, the disclosure documents, distribution and channel-management practice, the mechanics of NAV, expenses and pricing, taxation, and the full sweep of investor-servicing operations, and then on to measuring risk and return, evaluating scheme performance, and selecting schemes for an investor. The treatment is up to date with the latest SEBI frameworks and is written to be used, not just read—concepts are reinforced through worked numerical examples, illustrative boxes, and end-of-chapter questions.\u003c\/p\u003e\n\u003cp\u003eThis book is intended for the following audience:\u003c\/p\u003e\n\u003cul type=\"disc\"\u003e\n\u003cli\u003e\n\u003cstrong\u003eIndividual Mutual Fund Distributors and Aspirants\u003c\/strong\u003e seeking an ARN\u003c\/li\u003e\n\u003cli\u003e\u003cstrong\u003eEmployees of Organisations Engaged in the Sale and Distribution of Mutual Funds\u003c\/strong\u003e\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eEmployees of Asset Management Companies (AMCs)\u003c\/strong\u003e, particularly in sales and distribution\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eRelationship Managers and Front-Office Staff \u003c\/strong\u003eat banks, NBFCs and broking firms who distribute mutual funds\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eStudents and Job Aspirants\u003c\/strong\u003e entering the mutual fund and wider securities industry\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eExisting Intermediaries and Trainers\u003c\/strong\u003e who need an up-to-date working reference\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThe Present Publication is the March 2026 Workbook Version, developed in collaboration with the NISM Certification Team and NISM Resource Persons, Mr Sundar Sankaran, Ms Sunita Abraham and Mr Amit Trivedi. It is published exclusively by Taxmann, with the following noteworthy features:\u003c\/p\u003e\n\u003cul type=\"disc\"\u003e\n\u003cli\u003e[\u003cstrong\u003eOfficial Prescribed Text\u003c\/strong\u003e] The official NISM-prescribed workbook; the examination is largely based on the material contained here\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eCurrent Regulatory Framework\u003c\/strong\u003e] Aligned to the SEBI (Mutual Funds) Regulations 2026 and the 2026 Categorization and Rationalization circular, with SEBI's five-category scheme framework built into the text\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eUpdated Cost Structure\u003c\/strong\u003e] Reflects the latest cost-structure and Total Expense Ratio framework effective 1\u003csup\u003est\u003c\/sup\u003e April 2026 (base expense ratio, execution brokerage within specified limits \u0026amp; statutory levies)\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eLatest Taxation Position\u003c\/strong\u003e] Incorporates the current capital-gains taxation position from the July 2024 Budget—the 12-month\/24-month holding-period split, revised short-term and long-term rates, the ₹1.25 lakh LTCG exemption on equity, and grandfathering as on 31\u003csup\u003est\u003c\/sup\u003e January 2018\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eNew Scheme Structures\u003c\/strong\u003e] Covers newer structures introduced by SEBI, including the MF Lite framework for passive schemes and the Specialized Investment Fund (SIF) product line\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eWorked Numerical Illustrations\u003c\/strong\u003e] Worked illustrations for the computations the exam tests (NAV, returns, standard deviation), set up for Excel or LibreOffice Calc as used at the test centre\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eConcept Boxes and Self-Assessment\u003c\/strong\u003e] Explanatory boxes and exhibits for concept depth (for example, ETFs and stamp duty on units), plus end-of-chapter sample questions in every chapter\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eWeightage-Based Study Guidance\u003c\/strong\u003e] A syllabus outline with unit-wise weightages, so study effort can be directed at the highest-scoring areas\u003c\/li\u003e\n\u003cli\u003e[\u003cstrong\u003eReference Appendices\u003c\/strong\u003e] Supporting appendices carrying the relevant regulatory text and the AMFI codes, and a curated list of additional knowledge resources\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThe coverage of the book is as follows:\u003c\/p\u003e\n\u003cul type=\"disc\"\u003e\n\u003cli\u003e\u003cstrong\u003eInvestment Landscape\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eFinancial and life goals, the difference between saving and investing, the major asset classes (including equity, debt, gold, real estate, and the role of REITs and InvITs), investment risk, behavioural biases, the real rate of return, risk profiling and asset allocation\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eConcept and Role of Mutual Funds\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eHow a fund works as a pass-through vehicle, why returns are not guaranteed, the benefits and limitations for investors, and the growth and structure of the Indian industry\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eScheme Classification\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eThis is done by structure (open-ended, close-ended and interval funds, and ETFs); by management style (actively managed versus passive\/index funds, including the MF Lite construct for passive schemes); and SEBI's standardised categorisation into five broad groups—equity (with its sub-categories such as multi-cap, large-, mid- and small-cap and flexi-cap), debt, hybrid, life-cycle and other schemes—alongside newer constructs such as the Specialized Investment Fund (SIF), infrastructure debt funds, fund-of-funds, and gold and silver ETFs\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eLegal Structure\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eThe trust-based three-tier structure, the roles of the sponsor, trustees, AMC and custodian, the supporting service providers (registrar and transfer agents, auditors, fund accountants and collecting bankers), and the role and functions of AMFI\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eRegulatory Framework\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eThe role of SEBI, the AMC's due-diligence obligations for distributors, the investor grievance-redress mechanism including SCORES, the advertising code, and the AMFI Code of Conduct\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eScheme-Related Information\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eThe offer document and the mandatory and non-mandatory disclosures, namely the Scheme Information Document (SID), the Statement of Additional Information (SAI) and the Key Information Memorandum (KIM)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eDistribution and Channel Management\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eThe types and channels of distributors, the economics of distribution and the full-trail commission model, the mandated disclosure of commissions, the distinction between a distributor and an investment adviser, the Know Your Distributor (KYD) and EUIN requirements, empanelment, and change of distributor\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eNAV, Expenses and Pricing\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eNet Asset Value, the Total Expense Ratio and the scheme cost structure, fair-valuation principles, the computation and applicability of NAV, entry and exit loads, and the treatment of a segregated portfolio\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eTaxation\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eShort-term and long-term capital gains, IDCW taxed at the investor's slab rate, Securities Transaction Tax, stamp duty on units, the set-off and carry-forward of losses, the Section 80C\/ELSS benefit, TDS, and the applicability of GST\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eInvestor Services and Operations\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eThe New Fund Offer process; investment plans and options (direct and regular plans, growth and IDCW); allotment, statements of account and the application form; financial transactions through physical and online routes; cut-off timing and time-stamping; KYC through a SEBI-registered KRA; systematic transactions (SIP, SWP, STP, switches and triggers) and Micro-SIP; non-financial transactions and nomination; changes in the status of special investor categories; and investor transaction turnaround times\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eRisk and Return\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eGeneral and specific risk factors, the drivers of risk and return, the measures of return, and the measures used to quantify risk—variance, standard deviation and beta (with the Capital Asset Pricing Model)—together with the provisions relating to credit risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003ePerformance and Benchmarking\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003ePrice-return versus total-return indices and the move to TRI benchmarking, the two-tier benchmark structure, the Potential Risk Class matrix for debt schemes, benchmarks for equity, debt and other schemes, the quantitative measures of fund-manager performance (the Sharpe ratio, Treynor ratio and Jensen's Alpha), tracking error, rolling returns, CAGR, and performance disclosure\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cli\u003e\u003cstrong\u003eScheme Selection\u003c\/strong\u003e\u003c\/li\u003e\n\u003cul type=\"circle\"\u003e\n\u003cli\u003eChoosing schemes on the basis of investor needs, preferences and risk levels, by investment strategy, through comparison across schemes and categories, and by the choice of plan and option\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThe structure of the book is as follows:\u003c\/p\u003e\n\u003cul type=\"disc\"\u003e\n\u003cli\u003e\n\u003cstrong\u003eTwelve Chapters in a Deliberate Progression\u003c\/strong\u003e — The book is organised as a single arc that builds the reader from context to capability, each stage resting on the one before\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eFoundations First\u003c\/strong\u003e — It opens with the investment context and the idea of a mutual fund, establishing the concepts everything else depends on\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eLegal and Regulatory Framework\u003c\/strong\u003e — It then sets out the trust structure and the regulatory environment within which the industry operates\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eDocuments and Distribution\u003c\/strong\u003e — From there it moves to the disclosure documents an investor relies on and to how mutual funds are distributed\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eTechnical Core\u003c\/strong\u003e — It turns to the more technical material—how units are valued and priced, how expenses work, and how investments are taxed\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eInvestor Servicing and Operations \u003c\/strong\u003e— It devotes its longest treatment to servicing and operations, the day-to-day substance of a distributor's work\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eAnalytical Close\u003c\/strong\u003e — It ends with the chapters on risk, return, performance measurement and scheme selection, so the reader finishes able to evaluate and recommend, not merely describe\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eConsistent Chapter Shell\u003c\/strong\u003e — Each chapter opens with learning objectives, develops the subject through numbered sections and sub-sections supported by illustrations and boxes, and ends with sample questions\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eFour Reference Appendices\u003c\/strong\u003e — The main text is followed by four appendices carrying the relevant regulatory text, the AMFI codes, and additional knowledge resources\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"Taxmann","offers":[{"title":"Default Title","offer_id":40803327869009,"sku":"9789371262743","price":497.25,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0574\/5534\/5745\/files\/MutualFundDistributors.jpg?v=1783163899","url":"https:\/\/buytestseries.in\/products\/taxmanns-mutual-fund-distributors-book-by-national-institute-of-securities-markets","provider":"BuyTestSeries.in","version":"1.0","type":"link"}