Acumen launches portfolio management services

Acumen Group, the Kochi-based financial services company, has launched Portfolio Management Services aimed at helping investors tap the capital markets.

Speaking to media persons here, Mr Akshay Agarwal, Managing Director, Acumen, said there is a strong demand for personalised investment management from investors, including NRIs, as it relieves investors of the need to spend time on studying and tracking the markets.

Besides regular themes, the company's PMS would offer specialised themes such as Shariah Portfolio and Contrarian Portfolio that invests in fundamentally strong, but beaten down companies. Global Indian Theme, which invests in Indian companies with global aspirations, and Next Generation Theme, which focuses on companies with high promoter stakes, and on the cusp of major change.

The minimum investment starts at Rs 5 lakh and varies from theme to theme. The company is looking at Rs 10 crore assets under management in the first year of operation. It has set up separate infrastructure for PMS with software for exclusive research and for online reports, he said.

Mr P.R. Aravindakshan Nair, Director of the company, said the Acumen group offers financial services from over 600 locations across the country.

The Group, in association with various exchanges, has conducted investor awareness camps so that a new breed of investors can reap the benefits of the India growth story, he said.

Mr Suraj Nair, Vice-President, PMS, said there were 243 registered PMS companies with SEBI and majority of them are not active. As per SEBI records, the total assets under management of PMS up to December 31, 2010, is to the tune of Rs 2.75 lakh crore. Of this, equity component is Rs 22,000 crore and the balance is in debt funds.