Portfolio Management Services statistics
Via Livemint:
- ICICI Prudential Asset Management, Kotak Securities and ASK Financial Services manage about Rs 2,500 crore each in PMS funds.
- Motilal Oswal manages about Rs 500 crore.
- Equity Intelligence has more than Rs 100 crore under management.
The use of the word ‘discretionary’ below makes me cringe - if you are aware of discretionary vs. system trading, you will know what I mean.
After Sebi introduced PMS regulations in 1993, . . . they were ‘non-discretionary’ PMS providers. In other words, they did not have the freedom to invest where they wanted and all investments were done in accordance with the wishes of the investors. This type of PMS is mostly extinct now.
It is ‘discretionary’ PMS that rules now and the fund managers use their discretion to invest in stocks once money is handed over to them.
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February 14th, 2008 at 8:40 pm
Why don’t companies take a cue and offer products which are for the masses…I heard about the portfolio management services from reliance money available at 5 lakh rupes to be very good option for the entire market to open up. Think at present two/three companies offer this service at this investment of them only reliance is one which is like a corporate. As a broker, I think it is a delight that more people will be now willing to put money in the equity market. I recently also read a very good and informative book from someone called Susan. BTW, there are a few titles on financial management available from cnbc