What is a Portfolio?
A portfolio refers to a collection of investment tools such as stocks, shares, mutual funds, bonds, cash and so on depending on the investor’s income, budget and convenient time frame. Following are the two types of Portfolio:
A portfolio manager is a body corporate who, pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise), the management or administration of a portfolio of securities or the funds of the client.
The discretionary portfolio manager individually and independently manages the funds of each client in accordance with the needs of the client. The non-discretionary portfolio manager manages the funds in accordance with the directions of the client.
The portfolio manager is required to have a minimum net worth of Rs. 2 crores. 5.
Yes. Every portfolio manager is required to pay Rs. 10 lakhs as registration fees at the time of grant of certificate of registration by SEBI.
The certificate of registration remains valid for three years. The portfolio manager has to apply for renewal of its registration certificate to SEBI, 3 months before the expiry of the validity of the certificate, if it wishes to continue as a registered portfolio manager.
The portfolio manager is required to pay Rs. 5 lakhs as renewal fees to SEBI.
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