I’m kicking off a new category of posts aimed at Portfolio Management Services (PMS), accessible to retail investors. Per the SEBI, there’s over 130 “registered” PMS providers in India - here’s a complete list.

The data I’d like to compile for each:

* Investment requirements (minimum amounts, holding periods, etc.)

* Investment strategy (sectors, F&O, long/short, etc.)

* Performance (past months/years, comparisons to index, risk/reward ratios, etc.)

* Fee structures (profit-sharing, annual/maintenance costs, etc.)

As an example, let’s look at Geojit’s PMS:

* Minimum Investment - Rs.10 lakhs for resident Indians and Rs.25 lakhs for Non-Resident Indians.

* Strategy - Identify undervalued stocks and those with growth opportunities from a select list of well researched stocks

* Fees

** PMS fee:
Option 1: 3% p.a. (charged @0.75% at the end of every quarter on the average of beginning and ending NAV)
Option 2: 1% p.a. (charged @0.25% at the end of every quarter on the average of beginning and ending NAV) and performance fee

** Performance fee:
20% on gain in NAV over and above 12% p.a.

Surprisingly, I couldn’t find any performance-related data. Does anybody know whether SEBI requires PMS’ to disclose these statistics (I couldn’t find anything in the FAQ)?

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