Morningstar Investment Adviser India, a subsidiary of independent investment research provider Morningstar Inc, has launched portfolio management services that will invest in mutual fund schemes with exposure to multi asset classes such as domestic equity, fixed income, cash, international equity, and gold.

The universe of portfolio holdings include direct plans of actively- and passively-managed mutual funds in India. Morningstar will charge a management fee of about 1 per cent, which will cover its fund management fee and financial advisor’s commission. It will also levy an exit load of 1 per cent if an investor withdraws investment within one year.

With the minimum investment of ₹25 lakh, Morningstar targets to raise over ₹1,000 crore over three years. The PMS services will be sold only through financial advisers. It has about 2.55 lakh registered financial advisors and 13,000 paid premium members.

Globally, Morningstar manages $40 billion under its PMS services. The four risk-aligned multi-asset portfolios being planned include balanced, growth, aggressive and aggressive plus. In a bid to instil confidence, Morningstar itself has invested ₹25 lakh across the four portfolio being built.

Portal for investor

Morningstar is in the process of developing a portal for investor to track the performance of their investments; till then investors can get information through their financial advisors.

Dhaval Kapadia, Director, Morningstar Investment Adviser, said leveraging on the its depth of resources, proprietary research and investment expertise, Morningstar will build investment strategies to meet investors’ goals.

comment COMMENT NOW