About Post Graduate Program in Securities Markets (Portfolio Management / Investment Advisory / Research Analysis)
Post Graduate Program in Securities Markets (Portfolio Management / Investment Advisory / Research Analysis), or PGP (PM/IA/RA), is a 15 month weekend program, hosted at NISM’s facility in Bandra Kurla Complex (BKC), Mumbai.
Recognized under SEBI ( Portfolio Managers) Regulations, 2020, SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analysts) Regulations, 2014 as eligible qualification for Portfolio Managers, Investment Advisers and Research Analysts.
For Whom?
PGP (PM/IA/RA) is ideal for Individuals with a passion for securities markets and keenness to acquire in-depth understanding of securities markets with a special focus on one of the specialization areas viz., Portfolio Management, Investment Advisory, or Research Analysis.
Being a week-end capacity-building program, it is suitable for working professionals.
This program is also useful for Individuals with an entrepreneurial bent of mind, who would like to start their own Portfolio Management, or Investment Advisory, or Research Analysis practice. These individuals with a Graduate degree and desirous to offer their own Portfolio Management, or Investment Advisory, or Research Analysis services may find this program suitable for their knowledge requirements and skill enhancement.
Employees of PMS, Investment Advisory and Research Analyst firms who would like to enhance their skills in their respective functional areas will find this program relevant.
Employees of Mutual Funds (AMCs and Distributors), Merchant Bankers, Stock Broking firms, listed companies (employees who look after the treasury operations), Banks (employees who provide wealth and investment management services to the clients), etc. will also find this program very useful. Individuals wanting to learn to manage their family investments will also benefit from this program.
Pedagogical Approach
The pedagogy of this program will be practice oriented with an objective of bringing real-life perspectives alongside giving a robust conceptual foundation to the students.
The curriculum is designed in consultation with the Industry to ensure that the curriculum is in-line with the current Industry practices and requirements.
The program covers the concepts, tools and techniques pertaining to both the foundational aspects of the securities markets as well as in their chosen specialization area: Portfolio management, Investment advisory, or Research Analysis.
Lectures and hands-on sessions will be conducted by eminent faculty and industry leaders and experts. Students will gain the research-based inputs and industry insights from a team of academicians and market experts.
Where does the PGP (PM/IA/RA) leads to?
PGP (PM/IA/RA) program offers three specializations to the students viz., Portfolio Management, Investment Advisory and Research Analysis. The program could lead the successful participants to the following career pathways:
Portfolio Management: Employment opportunities in Portfolio Management Services firms, PMS distributors, Asset Management Companies, Family Offices, etc. and also the scope to start own Portfolio Management Services for the aspiring entrepreneurs.
Investment Advisory: Employment opportunities in Investment Advisory firms, Retirement and Estate Planners, Banks, Family Offices, etc. and also the scope to start own Investment Advisory Services for the aspiring entrepreneurs.
Research Analysis: Employment opportunities as sell-side analysts (in Equity Research Firms, Stock Broking Firms, etc.), as buy-side analysts (in Asset Management Firms, Portfolio Management Services, Pension Fund Management Firms, Insurance Firms, Family Offices, etc.) and also the scope to start own Equity Research Services for the aspiring entrepreneurs.
Design and Curriculum
The program is designed for a duration of 15 months split into 9 months towards foundation courses, 3 months towards specialization courses and 3 months for dissertation project in the field of specialization opted by the student. The program offers three specializations viz., Portfolio Management, Investment Advisory and Research Analysis.
Detailed Programme Architecture
Trimester-I
| Subject Code | Subject Name | Credits | Hours |
| 101 | Overview of Securities Markets | 3 | 30 |
| 102 | Quantitative methods in Securities Markets | 3 | 30 |
| 103 | Financial Statement Analysis | 3 | 30 |
| TOTAL | 9 | 90 | |
Trimester-II
| Subject Code | Subject Name | Credits | Hours |
| 201 | Economics | 3 | 30 |
| 202 | Financial theories and application | 3 | 30 |
| 203 A | Fixed Income Securities | 1.5 | 15 |
| 203 B | Alternative Asset Classes | 1.5 | 15 |
| TOTAL | 9 | 90 | |
Trimester-III
| Subject Code | Subject Name | Credits | Hours |
| 301 | Security Analysis and Valuation | 3 | 30 |
| 302 | Derivatives and Risk Management | 3 | 30 |
| 303 A | Ethical and Regulatory Requirements in Securities Markets | 1.5 | 15 |
| 303 B | Sustainable Finance and ESG Investing | 1.5 | 15 |
| TOTAL | 9 | 90 | |
Trimester-IV (For Portfolio Management Specialization)
| Subject Code | Subject Name | Credits | Hours |
| 401(PM) | Portfolio Management Strategies (Equity, Fixed Income and Alternative Investments) | 3 | 30 |
| 402(PM) | Quantitative tools and techniques in Portfolio Management | 3 | 30 |
| 403(PM) | Strategic Asset Allocation and Portfolio Planning for investors | 3 | 30 |
| TOTAL | 9 | 90 | |
Trimester-IV (For Investment Advisory Specialization)
| Subject Code | Subject Name | Credits | Hours |
| 401(IA) | Personal Financial Planning: Regulations, Operations & Investor Communication | 3 | 30 |
| 402(IA) | Investment Management & Retirement Planning | 3 | 30 |
| 403(IA) | Personal Risk Management: Insurance Planning, Tax & Estate Planning | 3 | 30 |
| TOTAL | 9 | 90 | |
Trimester-IV(For Research Analysis Specialization)
| Subject Code | Subject Name | Credits | Hours |
| 401(RA) | Fundamental Analysis (Economic, Sector and Company Analysis) | 3 | 30 |
| 402(RA) | Technical Analysis | 3 | 30 |
| 403(RA) | Valuation, Financial Modelling and Research Report Writing | 3 | 30 |
| TOTAL | 9 | 90 | |
Dissertation
| Subject Code | Subject Name | Credits |
| 501 | Dissertation in the area of Specialization | 9 |
The performance of the participants is assessed on continuous evaluation process in each trimester. Performance is evaluated through quizzes, surprise test, end-term examinations, class participation, presentations, submissions, projects etc., as may be indicated by the faculty members in the course outline. At the end of the program, participants shall be awarded with grades, subject- wise as well as the CGPA.
Program Schedule
The program will be offered on weekends in hybrid model i.e., the classes will be held in physical class room located in NISM’s Bandra Kurla Complex (BKC) facility in Mumbai and will be delivered online simultaneously. *
Indicative class timings would be as follows:
| Day | Indicative Timings | Teaching Hours |
|---|---|---|
| Saturday* | 6:00 pm to 9:15 pm | 3 hours |
| Sunday # | 10:00 am to 5:15 pm | 6 hours |
* Participants may attend the classes either online or in classroom mode (Offline classes in physical mode). In case of exigencies such as Covid19 pandemic, etc. sessions will be conducted in a suitable mode as per the direction of competent authorities at NISM.
Further, it is to be noted by those opting for physical classes that a limited number of seats are available for physical mode and it will be allocated on a first in first serve basis.
Sessions for Trimester-IV (Specialization) will be conducted online mode only.
Admission Process
Eligibility
Graduates from any discipline (completed with final degree certificates and mark sheet at the time of application) from a recognized University under 10+2+3 scheme are eligible to apply for this program.
Selection Criteria
Candidates will be selected based on their profile and their performance in the personal interview (online).
How to Apply?
Candidates willing to apply should first register themselves on https://apply.nism.ac.in/pgp
Step 1: New Registration: Upon successful registration, a User-ID and Password will be sent to registered email ID and mobile number of the candidate.
Step 2: Application process: Thereafter, candidates are required to log-in and complete the application process by paying application fee. After making the payment of application fee of Rs. 500/- the candidates may submit their application.
Important Dates for AY 2023-24
| Particulars |
Date |
|---|---|
| Start Date for Application | 6th March, 2023 |
| Last Date for Application | 21st April, 2023 |
| Date of commencement of interviews | 19th April, 2023 |
| Declaration of 1st Merit List: | 9th May, 2023 |
| Declaration of 2nd Merit List: | 16th May, 2023 |
| Commencement of Program: | 27th May,2023 |
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Dr. Rachana Baid
Professor, Dean (Academics) & HoD - School for Securities Education (SSE)
Dr. Rachana Baid
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Name: Dr. Rachana Baid Designation: Professor, Dean (Academics) & HoD - School for Securities Education (SSE) Email: rachana.baid@nism.ac.in Dr. Rachana Baid is Professor at National Institute of Securities Markets. She has been teaching, consulting, and training in financial markets since 1996. She has been a visiting faculty with XLRI Jamshedpur, S.P. Jain Global School of Management, Mumbai, Singapore and Dubai. Earlier she has taught courses at IIM-Indore, NMIMs Mumbai, and few other management schools. She has worked with Indian Institute of Capital Markets (IICM) for 9 years from 2001 to 2010. At IICM she has conducted more than 200 workshops and training sessions for the professionals in the Indian capital market as well as for the participants from other countries. She has conducted training sessions for the officers of IAS, IRS, and CBI as well as fund managers and senior bankers from the private sector banks and mutual funds.
She has been associated with consultancy assignments for clients in the public sector & private sector. She was the member of a team constituted by BankWorld Inc, Washington, DC as a local capital market expert to assess the United States Agency for International Development (USAID) assistance to Securities and Exchange Board of India (SEBI) and its future technical assistance needs. She has worked on assignments for the government of India in Investor Education & Protection. She has been involved in consultancy/advisory assignments for UTI mutual fund and the Association of Mutual Funds in India. She was part of the secretariat to assist the panel for National Award for Excellence in Corporate Governance 2001.
She has done Ph.D. in finance (2001) and Masters in Commerce (1995) from Osmania University
She has about a dozen research papers to her credit in leading journals.
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Dr. Latha Chari
Professor & HOD- School for Securities Information and Research (SSIR)
Dr. Latha Chari
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Name: Dr. Latha Chari Designation: Professor & HOD- School for Securities Information and Research (SSIR) Email: latha.chari@nism.ac.in Contact: 91-2266735135 / 91-2192668415 Dr. Latha Chari is a Doctorate in Finance from BITS Pilani, Post Graduate in Commerce and a FCMA (Fellow Member of the Institute for Cost Accountants of India). She has an experience of more than 18 years in teaching, research and academic administration and about 9 years in the Industry. She started her academic career as a Fellow with IILM, Lodhi Road, New Delhi. At NISM, Dr. Chari has contributed towards the establishment of Algo and Trading Analytics Lab, where courses related to trading and investment are taught using the delayed asset prices of equity and derivatives received from exchanges. She has developed comprehensive curriculum that enables participants to enhance their investment skills, understand and navigate through highly volatile markets using different trading and investment strategies. She is teaching courses on Financial accounting, Financial Statement Analysis, Corporate finance, Equity research and Valuation, in addition to lab based investment management curriculum, across various full time, part time and training programs. She has been member of the Board of Studies of various Management Institutions and is currently a member of the Research Advisory Committee of SEBI.
Before joining NISM in 2014, Dr. Chari has worked with the Institute for Technology and Management, Navi Mumbai for more than a decade. During her academic tenure she has published papers in various national and international journals. She has also worked on research projects for SEBI and research funded by NSE-NYU under their joint research initiative. She has conducted several MDPs in the areas of financial asset valuation, strategic cost management, fundamental analysis, trading and investment in equities for a wide range of participants comprising of capital market professionals, regulators from both India and abroad.
Dr. Chari’s areas of research interests include strategic cost management, corporate valuations, shareholder value enhancement, market microstructure and Studies assessing the impact of policy decisions on investors, market quality and market integrity.
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Dr. Kirti Arekar
Professor - School for Securities Education (SSE)
Dr. Kirti Arekar
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Name: Dr. Kirti Arekar Designation: Professor - School for Securities Education (SSE) Email: kirti.arekar@nism.ac.in Contact: 02192-668369 Dr. Kirti Arekar is currently working with National Institute of Securities Markets as a Professor. She has been in teaching, research, training and consulting in Data and Statistical Analysis since 2000. Dr. Kirti worked with K.J. Somaiya Institute of Management, Welingkar Institute of Management (WeSchool) and Narsee Monjee Institute of Management Mumbai. She has been visiting faculty with SP Jain Global Institute of Management, Singapore and Manipal University, Dubai. She has conducted several training programs for corporates like BSE, NSE, BCCI, INS HAMLA, Lumiere, Mahindra & Mahindra and L&T etc. based on Decision Making, Statistics and Data Analysis etc. by using several Software’s i.e. SPSS, EXCEL, EXCEL Solver, MegaStat, Minitab, SAS, R, Python, SAS and QM3+ etc. She has 275 Research publications in International and National Journals. She has presented several Research Papers in many Universities like Harvard University, Manchester, University of Emirates, University of Wellington and Hull University etc.
She has done PhD. in Statistics in 2002 and Integrated Program in Business Analytics from IIM Indore. She has received an award for Best Research paper at Inter 3RD International conference on global independence and decision science, Administrative Staff College of India, Hyderabad, 2008; Best paper awarded by Global Economy and Finance Journal, Canada, 2013 & University of Boston, USA in 2012. Under her guidance two students was awarded Ph.D. degree.
She was awarded as the Best Teacher Award for Excellence in Research & Teaching from Higher Education Forum in 2013; has been also awarded Fellowship from World Business Institute, Melbourne, Australia in 2013 and Best Researcher Award in Higher Education from K.J. Somaiya Institute of Management, Mumbai and Best Faculty Award in Teaching in Excellence from Bombay Management Association, BMA in 2019.
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Dr. Jinesh Panchali
Professor - School for Securities Education (SSE)
Dr. Jinesh Panchali
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Name: Dr. Jinesh Panchali Designation: Professor - School for Securities Education (SSE) Email: Jinesh.panchali@nism.ac.in Dr. Jinesh has more than 30 years of experience in academics, consulting, and academic administration.
Jinesh is MBA with specialisation in Finance, Ph.D. in Management from Faculty of Management Studies (1994), The M.S. University of Baroda, and a CMA from Institute of Cost Accountants of India.
Before joining NISM, he managed an Advisory firm, Arham Advisors (2016-2021). It has undertaken assignments in domain of M&A, corporate valuation, Management Information Systems, etc.
He has served Indian Institute of Capital Markets, (IICM) (now merged with National Institute of Securities Markets (NISM), for more than a decade including serving as Dean (1995-2007). He has also served as Senior Vice President at Financial Technologies Group, and as Head of its Knowledge Management subsidiary (2007-2014).
He has published in area of corporate governance, ownership and performance, and M&As. He has taught full courses in area of Finance and Strategy, like, M&A, corporate finance, corporate valuation, and corporate restructuring at various IIMs and institutions of national repute.
He has worked on assignments with various Ministries of Government of India and its committees. He has conducted executive education programmes and consultancy assignments for domestic and global capital market regulators, in area of governance, valuation, venture capital, securities markets, and knowledge management frameworks.
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Dr. Mohd Meraj Inamdar
Assistant Professor - School for Securities Information and Research (SSIR)
Dr. Mohd Meraj Inamdar
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Name: Dr. Mohd Meraj Inamdar Designation: Assistant Professor - School for Securities Information and Research (SSIR) Email: Meraj.inamdar@nism.ac.in Contact: +91-2192-270140 / +91 8275325356 Dr. Inamdar is a faculty member at NISM. Prior to NISM, he worked for Indian Institute of Capital Markets, Institute of Cost Accountants of India chapter’s and IIT-Bombay CSE.
He has 11 years of experience in teaching & research and two years of corporate experience.
Dr. Inamdar has several publications in indexed journals and has won two best research paper awards in international conferences. He has conducted a various programs for international delegates as well as training programs for SEBI, RBI, IRS, IES officers and market intermediaries.
At NISM, Dr. Inamdar teaches ESG finance, quantitative methods and data analyses, derivatives options trading strategies (through algo trading simulator) and technical analysis. He is a member of the organising committee of NISM conferences. He has completed M.com, MBA (Finance), CWA (Final), and PhD in the field of ESG finance from Mumbai University
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Mr. Kunj B Bansal
General Manager - School for Corporate Governance and School for Investor Education and Financial Literacy (SIEFL)
Mr. Kunj B Bansal
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Name: Mr. Kunj B Bansal Designation: General Manager - School for Corporate Governance and School for Investor Education and Financial Literacy (SIEFL) Email: kunj.bansal@nism.ac.in Kunj Bansal is a seasoned finance professional with almost 3 decades of corporate experience. In these years, he has worked at some of the best brands such as Reliance and Kotak after starting his career at UTI. He worked in the areas related to financial research, securities analysis and portfolio management.
He is an Engineer and a Management Graduate from NMIMS (Narsee Monjee) University, Mumbai. He writes on contextual issues for various magazines and newspapers and his valued opinion is sought by news channels like CNBC and ET Now. He speaks at seminars and conferences and lectures at management colleges.
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* Senior Professionals and Subject matter Experts from the Securities Markets would also be taking sessions as and when required.
Helpdesk: +91 82680 02412
Email: pgpipr@nism.ac.in