NISM-Series V-A: Mutual Fund Certification Exam Notes
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CAGR assumes that all dividend payouts are reinvested in the scheme at the ex-dividend NAV.
Earlier, the Mutual Fund schemes were benchmarked to the Price Return variant of an Index (PRI). PRI only captures capital gains of the index constituents.
With effect from February 1, 2018, the mutual fund schemes are benchmarked to the Total Return variant of an Index (TRI).
The Total Return variant of an index considers all dividends/interest payments that are generated from the basket of constituents that make up the index in addition to the capital gains.
NSE's MIBOR (Mumbai Inter-Bank Offered Rate) is based on short term money market. NSE similarly has indices for the Government Securities Market.
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