NISM 21B Portfolio Managers Exam Notes

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  • Strategic Asset Allocation: Long-term target weights.
  • Tactical Asset Allocation: Short-term market adjustments.
  • Rebalancing Benefits: Maintains risk-return profile.
  • Transaction Costs: Brokerage, taxes impact rebalancing.
  • Tax Costs: Capital gains from selling assets.

NISM 21B Portfolio Managers

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