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.
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 candidate. The program offers three specializations viz., Portfolio Management, Investment Advisory and Research Analysis.
Detailed Program Architecture
Trimester-I
| Subject Code | Subject Name | Credits | Hours |
| 101 | Quantitative methods in Securities Markets | 3 | 30 |
| 102 | Overview of Securities Markets | 3 | 30 |
| 103 | Financial Economics | 3 | 30 |
| TOTAL | 9 | 90 | |
Trimester-II
| Subject Code | Subject Name | Credits | Hours |
| 201 | Financial Statement Analysis | 3 | 30 |
| 202 | Fixed Income Securities | 3 | 30 |
| 203 A | Behavioral Finance and Investors’ Psychology | 1.5 | 15 |
| 203 B | Ethical and Regulatory Requirements in Securities Markets | 1.5 | 15 |
| TOTAL | 9 | 90 | |
Trimester-III
| Subject Code | Subject Name | Credits | Hours |
| 301 | Derivatives and Risk Management | 3 | 30 |
| 302 | Security Analysis and Valuation | 3 | 30 |
| 303 A | Fintech in Securities Markets | 1.5 | 15 |
| 303 B | SMART Lab | 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 A (PM) | Operational and Regulatory Aspects Specific to Portfolio Managers | 1.5 | 15 |
| 402 B (PM) | ESG and Responsible Investing | 1.5 | 15 |
| 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 including Retirement and Estate Planning | 3 | 30 |
| 402 A(IA) | Operational and Regulatory Aspects Specific to Investment Advisors | 1.5 | 15 |
| 402 B (IA) | ESG and Responsible Investing | 1.5 | 15 |
| 403 (IA) | Personal Risk Management and Insurance Planning | 3 | 30 |
| TOTAL | 9 | 90 | |
Trimester-IV(For Research Analysis Specialization)
| Subject Code | Subject Name | Credits | Hours |
| 401(RA) | Technical Analysis | 3 | 30 |
| 402(RA) | Fundamental Analysis (Economic, Sector and Company Analysis) | 3 | 30 |
| 403(RA) | Equity Valuation Modelling and Equity 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 participants is assessed on continuous evaluation process in each trimester. Performance is evaluated through quizzes, surprise tests, 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 a 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 5:00 pm | 6 hours |
* Students can attend the classes either online or in classroom mode (Offline classes in physical mode). Classes in physical mode will be held subject to the developments in Covid-19 situation and till the situation improves classes will be conducted in online mode. Further, it is to be noted by those opting for physical classes that limited number of seats are available for physical mode and it will be allocated on a first in first serve basis.
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 stream 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?
1. New user has to register by clicking on “Click here to Apply Now” button.
2. Upon successful registration, a User-ID and Password will be sent to registered email ID and mobile number of the candidate.
3. Fill the Application form and upload all relevant documents.
4.Complete the application form by paying the application fee – Rs. 500/-
Important Dates
| Particulars |
Date |
|---|---|
| Start Date for Application | 24-Jan-22 |
| Last Date for Application | 30-Apr-22 |
| Date of commencement of interviews | 7-May-22 |
| Declaration of 1st Merit List: | 9-May-22 |
| Declaration of 2nd Merit List: | 16-May-22 |
| Commencement of Program: | 22-May-22 |
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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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Ms. Monika Halan
Adjunct Professor
Ms. Monika Halan
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Name: Ms. Monika Halan Designation: Adjunct Professor Email: monika.halan@nism.ac.in Monika Halan is a trusted personal finance writer, speaker and author who helps families get their money decisions right. She is the founder of Dhan Chakra Financial Education and the best-selling author of Let’s Talk Money. She is also an Adjunct Professor at the Indian Institute of Corporate Affairs, a Ministry of Corporate Affairs think tank. She is a regular speaker on financial literacy, regulation, inclusion and consumer issues in retail finance. She has a Master’s in Economics from the Delhi School of Economics and a second Master’s in Journalism Studies from College of Cardiff, University of Wales, UK. She has worked across
various media organizations in India, including Mint, The Economic Times and The Indian Express, and was Editor Outlook Money. She has run four successful TV series around personal finance in NDTV, Zee and Bloomberg India.
Monika has public policy experience as Member of the Task Force set up by the Government of India to put in place the Financial Redressal Agency, Member on the SEBI Mutual Fund Advisory Committee from 2009 to 2021, Member on the Ministry of Finance Committee on Incentives (Bose Committee), and Advisor to Swarup Committee in 2009.
She has four published academic papers in the field of household finance.
• Impact of Information Disclosure on Consumer Behavior: Case of ATI Bonds, Niyati Agrawal, Monami Dasgupta, Monika Halan, Misha Sharma, Madhu Srinivas, Dvara Research, 2021.
• Regulating consumer finance: Do disclosures matter? The case of life insurance.
Monika Halan and Renuka Sane, NIPFP Working Paper Series, 2017.
• Misled and mis-sold: financial misbehaviour by retail banks? Monika Halan and Renuka Sane, Journal of Comparative Economics, 2017.
• The case of the missing billions: estimating losses to customers due to mis-sold life insurance policies. Monika Halan, Renuka Sane, Susan Thomas, Journal of Economic Policy Reform, 2014. She was a Director on the Financial Planning Standards Board India and is a Member of the
Editor’s Guild. She is an author of the best-selling book Let’s Talk Money (Harper Collins, 2018). The Hindi translation Baat Paise Ki was released in December 2020. Her first book Seven Steps to Financial Freedom was published by Macmillan in 2005. She is based in New Delhi and was
chosen as a Yale World Fellow in 2011.She tweets at @monikahalan
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Mr. Susanta Kumar Das
Member of Faculty - School for Regulatory Studies and Supervision (SRSS)
Mr. Susanta Kumar Das
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Name: Mr. Susanta Kumar Das Designation: Member of Faculty - School for Regulatory Studies and Supervision (SRSS) Email: susanta.das@nism.ac.in Contact: 91-2192668376 Mr. Susanta Kumar Das is a General Manager with SEBI, presently on deputation to NISM (since 28 October 2021) in School of Corporate Governance (SCG) and School for Regulatory Studies and Supervision (SRSS).
Mr. Das brings with him a rich and varied experience of more than 2 decades, primarily in the fields of securities markets and corporate governance. He joined SEBI in 2002 and has since worked in various departments there like Surveillance, Corporation Department, Market Regulations etc. Mr. Susanta completed his Bachelors in Law (LLB) and his Masters in Finance and Control. He is also a certified Financial Risk Manager from GARP, USA. His areas of interest include surveillance, market regulation, takeovers, etc
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Mr. Ritesh Kumar Nandwani
Faculty Member & Program Director, PGDM (SM) - School for Securities Education (SSE)
Mr. Ritesh Kumar Nandwani
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Name: Mr. Ritesh Kumar Nandwani Designation: Faculty Member & Program Director, PGDM (SM) - School for Securities Education (SSE) Email: ritesh.nandwani@nism.ac.in Contact: 91-2266735128 / 91-2192668411 Ritesh is an Assistant General Manager with Securities and Exchange Board of India (SEBI), and is currently on deputation to National Institute of Securities Markets (NISM). He is a faculty member at NISM and is also the Program Director of the PGDM (SM) program at NISM.
Ritesh is actively involved in teaching and training in long term academic programs as well as corporate training programs at NISM. His teaching interest lies in varied subjects and areas related to Capital Markets, including Fixed Income Securities, Derivatives & Risk Management, Equities Markets, etc.
Before joining NISM, he has worked with SEBI for almost a decade. He has worked in the Investment Management Department and the Corporation Finance Department of SEBI. His areas of expertise include Equities Markets, Corporate Bond Markets, Public Issues and Capital raising, Initial Listing and Continuous compliances, and REITs & InvITs.
Ritesh has participated in various national and international conferences and seminars organised by various institutions and has also been a speaker in many such conferences and seminars. He has also represented SEBI in various meetings and roundtable discussions at multilateral forums such as IOSCO, G20 GFSG, etc.
Ritesh holds a Post Graduate Diploma in Management from IIM Lucknow and an M.Sc. in Wealth Management from Singapore Management University. He is also a CFA charter holder and a Chartered Accountant. Ritesh was also felicitated as India's Best Finance Teachers in 2021 by Association of International Wealth Management of India (AIWMI).
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Dr Ankur Shukla
Assistant Professor - School for Securities Education (SSE)
Dr Ankur Shukla
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Name: Dr Ankur Shukla Designation: Assistant Professor - School for Securities Education (SSE) Email: ankur.shukla@nism.ac.in Contact: 02192-668408 Dr. Ankur Shukla is currently working with National Institute of Securities Markets as an Assistant Professor in the School of Securities Education. He has been in teaching, research, training in Finance and Accounting since the past two years. Dr. Ankur worked with Indian Institute of Management Bodh Gaya and UPES Dehradun prior to joining NISM.
He has 4 Research publications in International Journals. He has presented several of his research works in domestic and international conferences such as 8th PanIIM World Management Conference and 27th EBES Conference, Bali. He has done PhD. in Finance and Accounting in 2020 from IIM Ranchi.
Before joining the doctoral program, he has worked with Tata Consultancy Services for close to two years.
His research interests include-Corporate Governance, Working Capital Management and his teaching interests are Financial Management(FM), Management Accounting, Financial Risk Management, Hedge Funds and Alternative Investment Funds and Business Valuation.
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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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Email: pgpipr@nism.ac.in