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Visakhapatnam, April 2

Karvy Stock Broking Ltd has launched portfolio management services here on Wednesday, for the first time in the country, and it will be extended to 50-60 centres, according to Mr Ambareesh Baliga, Vice-President. At a press meet here before the launch function, he said it would be for high net worth individuals and the entry barrier would be Rs 25 lakh. “We will offer personalised services for these individuals. We have three specific schemes for them,” he said , and added that the entry barrier would be set at Rs 50 lakh in the metros. Mr Ambareesh said the PMS was named Green Wallet and Karvy was expecting good response here and from the other centres. “We expect Rs 150-200 crore investment,” he said. Mr Ambareesh said Karvy had 570 branches at present and the number would go up. “Most of the branches are our own, but we want to appoint some franchisees now,” he added. Mr Srinivasa Kumar, the regional head, also spoke.

— Our Bureau

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