NISM-Series V-A: Mutual Fund Certification Exam Notes
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Focused Fund: An open-ended equity scheme investing in maximum 30 stocks - (the scheme needs to mention where it intends to focus, viz., multi cap, large cap, mid cap, small cap). Minimum investment in equity & equity related instruments shall be 65 percent of total assets.
Sectoral/Thematic: An open-ended equity scheme investing in a specific sector such as bank,IT. etc. Minimum investment in equity and equity related instruments of a particular sector/ theme shall be 80 percent of total assets
Equity Linked Savings Scheme (ELSS): An open-ended equity linked saving scheme with a statutory lock-in of 3 years and tax benefit. The minimum investment in equity and equity related instruments shall be 80 percent of total assets.
There can be only one scheme per category, except in the following cases - Index funds and ETFs replicating different indices, Fund of Funds having different underlying schemes and Sector funds or thematic funds investing in different sectors or themes
Mutual funds in India are permitted to offer either Aggressive Hybrid Fund or Balanced Fund.
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