Business Daily from THE HINDU group of publications
Thursday, Dec 13, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Dec 13, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Money & Banking
-
Financial Services Reliance Money PMS roll-out in mid-Jan K.R. Srivats
New Delhi, Dec. 12 Reliance Money, a subsidiary of Reliance Capital Ltd, has decided to launch its portfolio management services (PMS) in mid-January next year. The company wants to take PMS to the masses and, therefore, has pegged the entry level at Rs 5 lakh — the minimum investment amount stipulated by the capital market regulator for such services. Reliance Money would accept amounts in the range of Rs 5-75 lakh under the PMS. Managing SavingsThis offering may be best suited for professionals and executives who are hard pressed for time and unable to manage their savings efficiently. “We are taking PMS to the masses. It would be a pan-India roll out and the launch would happen in mid-January 2008. Nobody has taken PMS to the masses,” Mr Sudip Bandyopadhyay, Chief Executive of Reliance Money, told Business Line. PMS has so far been marketed to only high net worth individuals, who could invest sums of Rs 1 crore or above. Fees, performance-linkedMr Bandyopadhyay also said that the fees would be linked to the performance. “We will take fees only if we perform in terms of returns above a certain level,” he said. Under the PMS offered by Reliance Money, Mr Bandyopadhyay said that a client can choose from among three portfolio options — aggressive, non-aggressive (like balanced) and infrastructure. More Stories on : Financial Services
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|