Portfolio Management Services can be classified in the following

categories:
1) Mutual Funds
2) Portfolio Management Services (Customised Service) minimum Rs
25 lacs
a. Offered by AMCs
b. Offered by Individuals
3) Portfolio Evaluation/Advisory Services
4) Financial Planning Services/Retirement Planning Services
5) Estate Planning and Trusteeship Services
6) Alternative Investment Funds (Only for HNI)
Difference between MF and PMS
Features

PMS

Mutual Fund

Managemen Provide ongoing, personalized access Provide

access
to
t
to professional money management professional
money
services
management services
Customizati
on

Portfolio can be tailored to address Portfolio structured to

each investor`s specific needs meet the fund`s stated
investment objectives

Ownership

Investors directly own the individual Shareholders own shares

securities in their portfolio, allowing of the fund and cannot
for tax management flexibility
influence buy and sell
decisions or control their
exposure to incurring tax
liabilities

Liquidity

Although managers may hold cash, Mutual funds generally

they are not required to hold cash to hold some cash to meet
meet redemptions
redemptions

Minimums

Significantly
higher
minimum Rs. 5,000
investments than mutual funds. As
SEBI Rules minimum investments is
Rs 25 Lacs.

Flexibility

Generally more flexible than mutual Comparatively

funds. The Portfolio Manager may flexibility
move to 100% cash if required. The
Portfolio Manager may take his own
time in building up the portfolio. The
Portfolio Manager can also manage a
portfolio
with
disproportionate
allocation
to
select
compelling
opportunities

less

Number
Stocks

Of PMS generally have a focused Most

Mutual
Fund
portfolio of 15-20 stocks, enabling schemes have anywhere
portfolio manager to put meaningful between 50-60 stocks.
allocation in stocks/sector where
he/she is most bullish on.

Top 10 AMC by AUM

AMC
1
2
3
4
5
6
7
8
9
1
0

HDFC MF
ICICI Prudential MF
Reliance MF
Birla Sun Life MF
UTI MF
SBI MF
Franklin Templeton MF
IDFC MF
Kotak Mahindra MF
DSP BlackRock

AUM (Rs
Cr)
161,634
148.559
137,124
119,752
92,751
74,942
70,444
51,715
41,378
37,838

Various Products under MFs

o By Structure of Fund
Open-ended
Close-ended
Fixed Maturity Plans
Interval Schemes
o By Investment Objectives of Fund
Growth
Income
Balanced (Growth & Income)
Money Market/Liquid
Tax Saving (Equity Linked Saving Schemes - ELSS)
o Others
Gold Exchange Traded Funds
Fund of Funds
Offshore Schemes (ADR, GDR)
o Geographical
Domestic
Offshore
o By Investment Types
Equity Funds
Capital Appreciation Funds
o Growth Funds

o Sector Funds
Total Return Funds
o Growth & Income Funds
o Income Equity Funds
World Equity Fund
Hybrid Funds
Balanced Funds
Taxable Bond Funds
Corporate Bond Funds
Debt Funds

Various PMS Strategy

o Value Strategy long term (MOSW)
o Growth Strategy Short-medium term strategy (MOSW)
o Managed Futures (Ashwini Gujral Individual)
o Multi Strategies
o HSBC Alpha account signature
o HSBC Alpha account strategic
o HSBC Large Cap Oriented
o HSBC Select Portfolio
SEBI Data
REPORT OF PORTFOLIO MANAGERS - As on March 31, 2015
PMs reported for the month
Discretionary
No. of Clients

40558

- 205

NonDiscretionary
3297

Advisory
2851
180123.49*

AUM (Rs. in crore)

Listed Equity

40829.31

8651.13

Unlisted Equity

1129.20

42.41

Plain Debt

627716.17

33730.32

Structured Debt

137.17

499.50

Equity Derivative

153.37

-3.65

Mutual Fund

5865.55

4901.44

Others

23472.95

136.15

Total

699303.73#

47957.28

Notes:
1. *Value of Assets for which Advisory Services are being given.
2. #Of the above AUM Rs. 631090.67 crore is contributed by funds from EPFO/PFs.
3. The above data is based on the monthly reports received from portfolio managers.