All videos · NISM Series V-A · Chapter 4
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The mutual fund warning you can't rephrase
The standard warning in mutual fund ads must appear word for word. "Past performance may or may not be sustained" is a different disclaimer.
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The full concept: Advertising rules
Worked example: An ad says "Our fund gave 32% last year!" without the 3- and 5-year figures, the benchmark and the standard warning. That breaks the code.
Exam trap: The standard warning cannot be paraphrased. "Past performance may or may not be sustained" is a different disclaimer.
