The Hindu Business Line : Reliance Money to launch PMS service for retail investors

Anil Dhirubhai Ambani group outfit Reliance Money is launching a portfolio management scheme (PMS) for retail investors. Mr Sudip Bandyopadhyay, CEO of Reliance Money, said here today that the proposed PMS would have an entry threshold of Rs 5 lakh and it would charge a fee only if annual return was 8 per cent or more.

Reliance Money is also offering a limited period free trading account in West Bengal to customers, who open demat account with it at a one-time cost of Rs 750. The offer entails Rs 500 trading charge waiver for a maximum traded value of Rs 5 lakh for the first year. For higher trading limits, graded charges would be placed, he added.

Reliance money, in a deviation from the broking industry practices of charging brokerages based on each transaction, has already introduced a flat fee structure for trading in equities and commodities on its electronic platform.

It has recently tied up with an NGO for providing trading platform in 10 districts of West Bengal, Andhra Pradesh, Orissa and Bihar. The NGO, the Forum for Integrated Development and Research (FIDR), runs a rural entrepreneurship programme in these States through one-man one-village training initiative.

Under this model, the trained man is provided with village-level electronic platform called ‘Gyan O Shoochna Kendra’ for imparting training in computer skills.

More Stories on : Financial Services | New Products & Services

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Reliance Money to launch PMS service for retail investors

IFCI plummets 23% as deal falls through

Phoenix Mills’ new structure

Volatile movement

Marketmen welcome SEBI move on short-selling

US capital outflows fall 66% in July-Sept

SEBI allows short selling by institutional, retail investors

Southern States spice up Mundra Port IPO

Porwal Auto IPO subscribed 1.03 times

Fursa Mauritius picks up 43% stake in Gayatri Starchkem