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Namrata Gada

The products will be offered through its 110 branches and franchisees located across the country.

Mumbai , Aug. 31

Emkay Share and Stock Brokers Ltd will launch a new product called Empower Multi Manager Portfolio, a fund-of-funds product in the Portfolio Management Scheme (PMS), Mr Akhilesh K. Singh, Business Head, Wealth Management and Distribution Services, Emkay Share and Stock Brokers Ltd, told Business Line.

"Empower Multi Manager Portfolio is the second fund-of-funds product to be launched in the country, after Optimix," said Mr Singh. However, unlike its competitor, which is largely debt oriented, the fund will have three variants, of which two will be predominantly in equity.

The three variants are `Empower Pure Equity' which will invest 100 per cent in equity, `Empower Equity Balanced' to invest 60 per cent in equity and 40 per cent in debt and `Empower Capital Protection', which will invest 75 per cent in debt and 30 per cent in equity.

The Capital Protection Fund will have a three-year lock-in period. There is nil entry load on all the three schemes.

"We will not invest in new fund offers at all. The mutual fund should at least have a size of Rs 500 crore with a one-year track record," said Mr Singh. The fund will not invest more than 15 per cent of its portfolio in any one sector, unless it is highly bullish.

"We have the regular PMS scheme handling around Rs 400 crore and the new product is the first step to offer a complete array of wealth management alternatives to clients beginning with investment advisory, to legal advice and tax filings. We plan to cover all these areas eventually," said Mr Singh.

The products will be offered through its 110 branches and franchisees located across the country.

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