>To implement diligently researched customised investment
strategies which help investors meet their long-term financial goals in a risk appropriate manner.
>To ensure that the PMS industry provides a viable investment
avenue for wealth creation by adopting high levels of skill, integrity, transparency
>appropriate risk profiling of investors
>.to provide Disclosure Document to investors
>executing the PMS agreement
>Making investment decisions on behalf of investors (discretionary)
or investment decisions taken at the discretion of the Investor (non-discretionary) or
advising investors regarding their investment decisions (advisory), as the case may be.
Under these services, all an investor has to do, is to give his portfolio in any form
i.e. in stocks or cash or a combination of both. The minimum size of the portfolio
under the Discretionary and/ or Non-Discretionary Funds Management Service Page 4 of 13
should be Rs.50 lakhs as per the current SEBI Regulations. However, the PMS
provider reserves the right to prescribe a higher threshold product-wise or in any
other manner at its sole discretion. The PMS provider will ascertain the investor’s
investment objectives to achieve optimal returns based on his risk profile. Under
the Discretionary Portfolio Management service, investment decisions are at the
sole discretion of the PMS provider if they are in sync with the investor’s
investment objectives. Under the Non-Discretionary Portfolio Management
service, investment decisions taken at the discretion of the Investor.
Under these services, the Client is advised on buy/sell decision within the overall
profile without any back-office responsibility for trade execution, custody of
securities or accounting functions. The PMS provider shall be solely acting as an
Advisor to the Client and shall not be responsible for the investment/divestment
of securities and/or administrative activities on the client’s portfolio. The PMS
provider shall act in a fiduciary capacity towards its Client and shall maintain
arm’s length relationship with its other activities. The PMS provider shall provide
advisory services in accordance with guidelines and/or directives issued by the
regulatory authorities and/or the Client from time to time in this regard.
>Ensuring compliance with KYC and AML guidelines.
>franking & signing the Power of Attorney to make investment
decisions on behalf of the investor.
>opening demat account and funding of the same from the investor’s
verified bank account and/or transfer of securities from verified demat account of the
>Mapping the said demat account with Custodian.
>To provide periodic statements to investors as provided under the PMS
Regulations 2020 and other SEBI notifications and circulars (“PMS
>Providing each client an audited account statement on an annual basis
which includes all the details as required under the PMS Regulations.
Charging and disclosure of appropriate fees & expenses in accordance with the PMS Regulations.
Upon termination of PMS Agreement by either party, the securities and the funds
lying in the account of the investor shall be transferred to the verified bank
account/ demat account of the investor.
Addressing in a time bound manner investor’s queries, service requests and
grievances, if any, on an ongoing basis.
Notes : The number of days in the above timelines indicate clear working days
It is mandatory for every PMS provider to register itself on SEBI SCORES (SEBI
Complaint Redress System). SCORES is a centralised online complaint
resolution system through which the complainant can take up his grievance
against the PMS provider and subsequently view its status.
The details such as the name, address and telephone number of the investor
relations officer of the PMS provider who attends to the investor queries and
complaint should be provided in the PMS Disclosure document.
The grievance redressal and dispute mechanism should be mentioned in the
Investors can approach SEBI for redressal of their complaints. On receipt of
complaints, SEBI takes up the matter with the concerned PMS provider and
follows up with them.
Investors may send their complaints to: Office of Investor Assistance and
Education, Securities and Exchange Board of India, SEBI Bhavan. Plot No. C4-
A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051.
Check registration status of the intermediary from SEBI website before availing
Submission of KYC documents and application form in a timely manner with
signatures in appropriate places and with requisite supporting documents.
Read carefully terms and conditions of the agreement before signing the same.
Thorough study of the Disclosure Documents of the PMS to accurately
understand the risks entailed by the said investment in PMS.
Accurate and sincere answers given to the questions asked in the ‘Risk
Questionnaire’ shall help the PMS provider properly assess the risk profile of the
Thorough study of the quarterly statements sent by the PMS provider to the
investor intimating him about the portfolio’s absolute and relative performance,
its constituents and its risk profile.
Ensure providing complete details of negative list of securities as part of freeze
instructions at the time of entering into PMS agreement and every time
thereafter for changes, if any, in a timely manner.
To update the PMS provider in case of any change in the KYC documents and
personal details and to provide the updated KYC along with the required proof.
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SEBI Regn No. BSE - CM/F&O, NSE - CM/F&O/CDS: INZ000187332 | SEBI PMS regn no.:
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| R Wadiwala Securities Pvt Ltd - CIN: U67120GJ2004PTC044324 | R Wadiwala Commodities
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