Mumbai’s Manik Vidya Mandir, 12-year-old student has cleared the beginner’s module exam conducted by the NSE (National Stock Exchange) for certifying mutual fund advisors.
Aditya scored 55% in the exam in which the passing marks are 50%. He was the youngest candidate at the NCFM (NSE’s Certification for Financial Markets) exam held in July this year 92012) , probably the youngest to take this test ever.
His father Mr. Uday Salunke, a ticket inspector with the Indian Railways. Aditya developed an interest in mutual funds when his mother Preeti, an insurance advisor, was preparing for her NCFM exam. He flipped through the study material, asking her dozens of questions to understand what mutual funds were and how they worked.
Mr. Uday Salunke said, “Seeing his keen interest, we encouraged him to delve deeper. It was a pleasant surprise when he said he wanted to sit for the exam”
Share market regulator SEBI and fund houses are trying to increase awareness about MFs (mutual funds.) The SEBI promoted National Institute of Securities Markets runs Pocket Money, a programme to teach financial skills to schoolkids.
The NISM (National Institute of Securities Markets) has also been roped in by UTI Mutual Fund to develop literature about mutual funds for school and college students. ICICI Prudential Mutual Fund is doing its bit with the Financial Premier League, a financial literacy initiative for school children.
When The beginner’s module is the first step and Aditya must sit for more advanced exams before he can be a full-fledged mutual fund advisor.
But his future plans are quite, well, earth-shattering. “I did not want to be a mutual fund advisor. I want to be a geologist and study earthquakes,” he says.
Why, then, did he go through the trouble of taking the exam?
“This was only to help me handle my finances better when I start earning,” he says.
So, how does he intend to invest his first salary?
“I will buy a diversified equity fund, maybe with a mid-cap orientation, and slowly keep adding to it to build a big corpus,” Aditya says.
Src: ET
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