Portfolio Management Services (PMS) is an investment portfolio in stocks, fixed
income, debt, cash, structured products and other individual securities, managed
by a professional money manager, that can potentially be tailored to meet specific
investment objectives. When you invest in PMS, you own individual securities unlike
a mutual fund investor, who owns units of the entire fund. You have the freedom
and flexibility to tailor your portfolio to address personal preferences and financial
goals. Although portfolio managers may oversee hundreds of portfolios, your account
may be unique.
Investment Management Solutions in PMS, can be provided in the following ways:
>Discretionary - Under these
services, the choice as well as the timings of the investment decisions rest solely
with the Portfolio Manager.
>Non Discretionary - Under these
services, the portfolio manager only suggests the investment ideas. The choice as
well as the timings of the investment decisions rest solely with the Investor. However
the execution of trade is done by the portfolio manager.
>Advisory - Under these services,
the portfolio manager only suggests the investment ideas. The choice as well as
the execution of the investment decisions rest solely with the Investor.
Note :In India majority of PMS providers offer Discretionary Services.
> PMS gives investors access to an institutional process
of money management.
>Provides a customized solution by matching the unique
circumstances and objectives of each investor.
>Wealth creation based on disciplined investment process
is the crux of PMS.
> Effective diversification helps reduce portfolio volatility
and enhances risk-adjusted returns over long term.
> MS gives investor direct ownership of the individual
securities in the portfolio.
PMS can be offered only by entities having specific SEBI registration for rendering
portfolio management services. Currently in India PMS is offered primarily by asset
management companies (AMCs) and brokerage houses.
The Investment solutions provided by PMS cater to a niche segment of clients. The
clients can be Individuals or Institutions entities with high net worth. Ideal for
>Looking to invest in asset classes like equity, fixed
income, structured products etc.
>Desire personalised investment solutions.
>Desire long-term wealth creation.
> Appreciate a high level of service.
If you fall under any of the following categories, you are eligible to enroll:
>Hindu Undivided Families.
>Association of Persons.
>NRIs, Overseas companies, firms, societies, and overseas
Trusts (subject to RBI approval).
To sign up for this service you will have to fill in the Client Registration Form.
In addition to this, you will have to execute an Agreement and a Power of Attorney
in favor of R. Wadiwala Securities Pvt. Ltd., establishing a Principal-Agent relationship,
which allows us to act on your behalf. Our Relationship Managers will be only too
happy to assist you in the matter.
Under the Portfolio Management Scheme, each transaction scheme will be considered
as an independent trade and capital gains will be applied on each depending upon
whether the relevant stock was held long term or short term. Presently 15.66 % tax
is chargeable for Short Term Capital gains and no tax is chargeable on Long Term
Capital Gains. The STT charges will also apply.
Initial corpus can be brought into the Portfolio Management Service by way of either
Cash and or securities/shares. The initial portfolio of securities/shares will be
re-aligned as per the model. We sell shares as required to get the holdings re-aligned
to our model portfolio.
As per regulations governing Portfolio Management Services in India, returns cannot
be guaranteed. We shall endeavor to outperform the benchmark indices like Sensex
& Nifty but there can be no guarantee or certainty of the same. We believe, over
long term, equities performance will track corporate performance. Therefore historical
trends indicate that well managed portfolio in Indian equities can yield upto 15-18%
p.a. returns. However the future returns may be very different for market risk as
well as risk with any portfolio manager’s judgment.
There is no upper limit on the amount you can invest in the Portfolio Management
In most of our schemes the ideal time horizon for a equity portfolio is at least
The Portfolio Management Service has no lock-in period you can at any point of time.
However, the ideal time frame is 12 – 18 months as equities outperform most other
asset classes only in the long run.
We invest as per objectives of a particular scheme. We typically pay more attention
to a company’s fundamentals, valuations and not technical trends. Our portfolio’s
do not mimic indices and are more governed by the bottom up approach.
Yes the payment has to be made upfront. He can introduce any additional amount later
No contract notes will be available. Detailed statement of accounts would be emailed
at the end of the month. Physical copy will be sent quarterly.
No, the same form can be used for any scheme chosen.
FSince we offer only Discretionary Portfolio management Services, the discretion
to invest primarily lies with the Portfolio Manager. Any securities/ shares handed
over as initial portfolio will be aligned to the model. Therefore, it is advisable
that you should hand over only those securities/ shares, which you are willing to
sell and retain the ones you want to hold.
Under PMS all investments will be made in the name of the scheme.
Documents required: Demat & PMS Account opening form and the risk disclosure. Address
proof/Identity proof /Pan card copy/Bank statements.
A Permanent Account Number (PAN) has to be provided for investment in the PMS scheme.
Yes, initial investment can be done by transferring your existing portfolio .The
stock valuations will be taken when it is received in the R. Wadiwala Securities
PMS Demat Account. The value of investment might fluctuate due to transaction incurred
to re-align the portfolio with the scheme.
The following charges will be applicable
> Upfront charges : 0.50%
> Asset Management Fess : 2.50% pa
>Brokerage : 0.5% per transaction
Management fees are chargeable on daily average NAV at the end of each quarter or
withdrawal of fund whichever is earlier. ( Pls refer the product brochure for complete
bifurcation of charges).
You can withdraw your profit as & when you want, provided you maintain the minimum
You can terminate from PMS at any time; charges as agreed would be applicable.
The Account Statement as well as the Statement of Holding of your equity portfolio
will be couriered to you on a quarterly basis. You will be able to view the same
online. The statements will have complete details of portfolio transactions and
a comprehensive performance review which will be uploaded on the website.
R. Wadiwala Securities Pvt. Ltd. is a depository participant with Central Depository
Services Limited (CDSL). This ensures complete safety in operations. Stock ownership
always rests with the client.
At R. Wadiwala Portfolio Management, the Relationship Manager will discuss with
you at length your financial goals and engineer a portfolio. Later on investment
will be made according to the scheme objective.
Our Portfolio management Schemes are designed from a long-term perspective and we
will invest in accordance with the objectives of each Scheme. It is advisable to
keep any equity portfolio invested over a longer term because in the long run, equities
outperform most other asset classes. Therefore, we do not indulge in any day trading
activity by Portfolio Managers.
If the Portfolio Manager finds that an IPO presents a good investment opportunity
then he may invest in the same.
Derivative transaction, if done, will only be for hedging purposes (as allowed by
SEBI). No speculative position is allowed.
Part of the portfolio might be invested in debt or liquid fund till the time felt
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