Portfolio managers are defined as persons who, in pursuance of a contract with client, advise/ direct undertake on their behalf the management/ administration of portfolio of securities/ funds of clients. The term portfolio means the total holding of securities belonging to any person. The portfolio management can be:
- Discretionary: the first type of portfolio management permits the exercise of discretion in regard to investment/ management of the portfolio of the securities /funds.
- Non-discretionary: the non-discretionary portfolio manager should manage the funds in accordance with the direction of client.
In order to carry on portfolio management services, a certificate of registration from SEBI is mandatory for all portfolio managers.… Read the rest