The portfolio managers assets swelled out by Rs. 1.85 lakh crore to Rs.12.30 lakh cr, marking it as a sixth consecutive yearly rise in the assets, at the end of last financial year, mainly on the back of increase in number of clients.
A portfolio manager is a corporate body who recommends and r undertakes on behalf of the client, the portfolio management funds of the client, implementing its investment stratagem and managing day to day portfolio trading.
As per data available with the Sebi, total AUM (Assets under management) of portfolio managers were at Rs. 12,30,482 cr at the end of 2016-17, against Rs. 10,45,428 cr at the close of the previous financial year, registering a gain of 18%. The assets base of portfolio managers rose for the whole of last financial year, except February month. Further, the clienteles rose to 77,150 from 52,288, during the period under review.
The assets handled by Portfolio managers worth Rs. 9,67,036 cr for discretionary services, apart from Rs. 1,88,385 cr for advisory services and Rs. 75,061 cr for non discretionary investments during the period under review.
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