Become a Portfolio & Fund Manager
Fund managers decide where client money is invested. PMS firms and AIFs have their own SEBI-specified NISM certificates for key investment staff. Most people reach this role after years as an analyst.
Certifications you need
The certificate you need depends on the type of fund you work for.
Required certifications
Optional add-ons
How to get there
Start as an analyst
Research or associate roles build your investment track record.
Pick PMS or AIF
This decides which NISM certificate you need.
Clear the NISM certificate
Series XXI-B for PMS, or XIX-D or XIX-E for AIFs.
Take on mandates
Add CAIA if you are moving into private equity, hedge funds or real assets.
What you'll do
- check_circleSet asset allocation
- check_circleSelect investments
- check_circleManage portfolio risk
- check_circleReport performance to clients
Who hires
- PMS providers
- AMCs and boutiques
- PE, VC and hedge funds
- Family offices
What it pays
Indicative figures. Actual pay varies by employer, city and experience.
Associate / Analyst
₹8–15 LPA
Supporting the portfolio manager
Portfolio Manager (5–8 yrs)
₹25–50 LPA
Managing mandates
Senior PM / CIO
₹75 LPA – ₹2 Cr+
Plus performance fees
Frequently asked questions
What is the difference between NISM XIX-D and XIX-E?
Series XIX-D is for key investment team members of Category I and II AIF managers. Series XIX-E is for Category III AIF managers.
Is CAIA mandatory for AIF roles?
No. The NISM certificates are the SEBI-specified ones. CAIA is an optional global credential.
Ready to start?
Practise for your exam with mock tests and chapter-wise questions.
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