The Hindu Business Line : ING Investment into portfolio management

TO tap the growing high networth individuals (HNI) segment, ING Investment Management (I) Pvt Ltd is entering the portfolio management services (PMS) business.

ING Investment Management India (IIM), which is the investment manager for ING Vysya Mutual Fund, is hoping to manage Rs 100 crore of funds in the first year from retail clients alone for the PMS business, said Mr Ashish Ranawade, Head (PMS).

He said ING IIM will provide investment advice as well as management services to HNIs and corporates while keeping pace with a constantly changing investment horizon. "ING's expertise in research and stock broking will give it the right perspective to provide a solid structure in which the portfolio can reach its full potential," Mr Ranawade said.

Any investor with investing corpus of a minimum of Rs 25 lakh can avail the Single Manager-PMS. "The portfolios will be managed on certain model portfolios, designed by the company specifically in accordance with the needs, objectives and investment constraints of the investor," he said.

The PMS will also be available to corporates. "The portfolio management service will act on a `discretionary' basis where in a specialised portfolio management team will configure a customised portfolio, keeping in mind the investor's financial situation and investment objective to help achieve maximum returns at minimum risk," Mr Ranawade said.

Currently, the corpus of retail HNIs segment is estimated at Rs 7,725 crore.

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