The discretionary portfolio manager will independently manage the funds of each client in accordance with the needs of the client. The non-discretionary portfolio manager will provide advisory services enabling the client to take decision with regards to his portfolio.
 

Initial corpus can be brought into the Portfolio Management Service by way of either Cash and/or securities. The initial portfolio of securities will be re-aligned as per the model.
 

Returns cannot be guaranteed as per regulations governing Portfolio Management Services in India. However our objective is to out perform the benchmark indices. We believe, over long term, Equity performance will track corporate performance. Therefore historical trends indicate that well managed portfolio in Indian equities can yield 15-18% p.a. returns. (based on market trends & discretion of portfolio manage).
 

There is no upper limit on the amount you can invest in the PMS.
 

The ideal time horizon for an equity portfolio is at least 12-18 months.
 

There is no lock-in period. You can exit/redeem at any point of time.
 

You can check your portfolio anytime by logging on to our website www.karvy.com & then click on PMS link. You will also get a monthly statement of transactions & holdings.
 

Yes
 

We don’t issue contract notes but a detailed statement of accounts will be emailed at the end of each month. We will also sent Physical copy of the same every quarter.
 

No, the same form can be used for any scheme.
 

The fund manager will decide on the amount of investment according to the market conditions.
 

No. The discretion to invest primarily lies with the Portfolio Manager with the objective to maximize your returns.
 

All investments will be made in the name of the scheme.
 

Documents required:

1. Account Opening Form
2. The Risk Disclosure
3. Address Proof
4. Identity proof
5. Pan card copy
6. Bank statements
    

Yes
 

Fee Structure:
Profit Sharing

• Asset Management Fess: 1% pa
• Brokerage: 0.5% per transaction
• Hurdle rate : 10%
• Return base fee: 20% of return above the hurdle rate

       Without Profit Sharing

• Asset Management Fess: 2.5% pa
• Brokerage: 0.5% per transaction
• Hurdle rate : Nil
• Return base fee: Nil
   

Yes, you can withdraw your profit as & when you want, provided you maintain the minimum ticket size.
 

You can terminate from PMS at any time; charges as agreed would be applicable.
 

Karvy Stock Broking is a depository participant with Central Depository Services Limited (CDSL). This ensures complete safety in operations. Stock ownership always rests with the client.
 

Under the PMS each transaction scheme will be considered as an independent trade and capital gains will be applied on each depending upon whether the relevant stock was held long term or short term. Presently 15% tax is chargeable for Short Term Capital gains and no tax is chargeable on Long Term Capital Gains. The STT charges will also apply.

(changes will be subject to government rules and regulations)
 

We expect all clients to consult their tax consultant before investing into any form of securities. At Karvy Stock Broking Ltd, we annually provide each client an audited tax statement of his portfolio. This can be used for filing returns.
 

The PMS is open for all Indian nationals, resident or otherwise. NRIs will have to open a PIS Account in order to invest in the PMS scheme.
 

In order to invest in the Secondary Markets in India, NRIs need to obtain RBI permission. In order to do so, a Bank account with a designated bank has to be opened under Portfolio Investment Scheme (PIS) and all the transactions related to the investment in secondary markets need to be routed through this account.
 

Based on our assessment of the fall, we will accordingly decide on the necessary course of action. In the first instance, depending on the anticipated extent of the correction, we may increase the percentage of cash in the portfolio. Since our focus is always to invest in those companies which are available at an attractive valuation, we believe that in the long term, any stock will always seek its fair valuation which is unaffected by corrections in the market. If however, we see signs of a trend reversal; our focus may change to increasing the cash component and restrict investments to defensive sectors which have low beta relative to the markets.
 

You have greater control over the asset allocation, whereas it is automatic in MF. The portfolio can be customized to suit your risk- return profile. The Portfolio manager has relatively greater flexibility to move in and out of cash as and when required depending on the market view. Typically, charges are lower and more transparent in PMS vis-à-vis a Mutual Fund. Holdings not impacted by entry/exit of big investors.