NISM Series XV : Research Analyst Certification Exam Notes
Page 5 Of 62
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the units of the ETF are listed and traded in demat form on a stock exchange and their price changes continuously to reflect changes in the index or commodity prices.
ETF is a passively managed portfolio, its expense ratios are typically lower than that of a mutual fund scheme.
Hybrids/Structured Products - Preference shareholders are called shareholders of the company (not creditors), payment to them is termed as dividend and it is paid from the Profit after Tax and dividend payment is not an obligation.
preference shares do not carry voting rights or a right over the residual assets of the company, in case of winding up
Types of Preference Shares - cumulative (unpaid dividend is carried forward), noncumulative (unpaid dividend lapses), convertible partly or fully etc.
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