A Portfolio Management Services account is a customized investment account managed by professional fund managers backed by a research team on behalf of the client to generate optimum returns on their investments. PMS account is regulated by SEBI (Portfolio Managers) Regulations, 2020 as amended from time to time. It includes discretionary, non-discretionary and/or advisory services.
Under discretionary service, the decision of buying and selling of the securities as well as execution of trade lies wholly with the portfolio manager.
Under non-discretionary service, the decision of buying and selling of the securities lies wholly with the investor, the fund manager only suggests the investment ideas and executes the trade according to the final decision taken by the investor.
Under advisory service, the fund manager advises the investors based on securities but the decision of buying and selling of the securities as well as the execution of trade lies wholly with the investor.
According to the SEBI regulations, the minimum investment amount under Portfolio management service is Rs. 50 lacs. This amount is to be maintained since the beginning of investment.
Resident Indians, Non-Resident Indian, Individuals, Non-Individuals like HUFs, Partnership firm, Sole Proprietorship or any other corporate body can invest in Indian equities provided that the investor submits all the physical documents and details required to open their portfolio account. Necessary guidance and assistance will be duly provided to the Client on this regard.
Separate bank account will not be opened in the Client’s name instead we have opened a bank account with IndusInd bank at pool level in the name of the Company wherein the client’s funds can be deposited and/or withdrawn. Demat account will be opened with Edelweiss Broking Limited for all resident clients.
An Indian Resident can have a joint account holder for their PMS account and three nominee(s) for their Demat account.
Clients can transfer listed and liquid securities into their demat account with KRIIS from the demat account (which is in the client’s name only).
The client will have to intimate us on our registered address firstname.lastname@example.org about the transfer of securities along with the details that is date of acquisition and cost of acquisition of those securities. The fund manager takes a final call on which stocks are to be transferred. We will then provide the client with a Client Master List which shall be forwarded to the broker to initiate the securities transfer process. The client will have to intimate us on our registered address email@example.com that the securities are transferred from their end. Once the securities are reflected in client’s demat account, confirmation on the same shall be given to the client on their registered email address.
The client can definitely transfer funds to their portfolio account on a regular basis through cheque or wire transfer. Once the fund transfer process is initiated by the client, the same need to be informed to us on our registered email address firstname.lastname@example.org or call us on +91 8591086965. Once we receive the funds in bank account, confirmation on the same shall be given to the client on their registered email address.
Below are the bank details:
Bank Name: Induslnd Bank Ltd
Bank Branch: Fort Branch
Account Name: Kriis Portfolio Private Limited
Account Type: Current Account/Pool account
Account Number: 250556044873
IFSC Code: INDB0000033
MICR code: 400234009
Portfolio holders at KRIIS having maintained a fund of Rs.50 lakhs can opt for further investment through SIP. The minimum amount to start investment through SIP is Rs.1 lakh.
To start with the SIP plan, the client can either email us on our registered email address email@example.com or call us on +91 8591086965. Our Client relationship officer will connect with the client to elaborate the process and a reminder call shall be given to the client prior 4-5 days of SIP due date on their registered email address and contact details for smooth process.
Once the fund transfer process is initiated by the client, the same need to be informed to us on our registered email address firstname.lastname@example.org or call us on +91 8591086965. Once we receive the funds in the bank account, confirmation on the same shall be given to the client on their registered email address.
The process to open a PMS account involves physical submission of all the necessary documents subject to the verification by us and the edelweiss. If all the physical documents are proper and there are no observations/objections/further requirements, demat account shall be opened within 3-4 working days. Once the account is opened, the client can either transfer funds and/or securities of mimimum Rs. 50 lacs to activate the account. After account is activated, signed copy of all the documents will be delivered by us at client’s registered address.
The client will get all concerning information, reports and statements with respect to their account. Demat account opening confirmation; monthly and annual statements; transfer of funds and/or securities related information; tax reports; fee payment reports etc will be provided to the client on their registered email address.
The client may partially withdraw the funds from their PMS account by intimating us on our email address email@example.com or contact us on +91 8591086965 provided that the balance amount in the portfolio is maintained upto INR 50 lakhs.
After receiving an intimation for partial redemption, our client relationship officer will connect with the client to elaborate the process and shall provide redemption request form on their registered email address.
Once we receive the redemption request form along with supporting documents in original, the funds shall be transferred to the client in the bank account provided to us within 10 days from the date of receiving a request form and same shall be intimated to the client on your registered email address.
Below is the chart for tax treatment on capital gains for Indian Residents:
The client can at any time close the portfolio account by giving prior written notice on our email address firstname.lastname@example.org. Our Client relationship officer will connect with the client to elaborate the account closure process and with respect to the transfer of funds, securities and payment of performance fees. Also, the requisite account closure documents shall be provided to the client on your registered email address.
The Client shall have an option to either receive the Securities or the equivalent cash amount representing the Securities. This option shall be exercised by the client on the same day on which prior written notice is given to us on our email address email@example.com for an account closure.
In the event, the Client exercises an option to receive the Securities, we will require a prior written request on our email address firstname.lastname@example.org with a signed copy of a client master list with broker seal and signature in original wherein the securities are to be transferred. In the event, the Client exercises an option to receive the Securities in the form of cash, we shall endeavor to sell the Securities and pay the net proceeds thereof to the Client within a period of 10 days of closure request. Provided that, if for any reason, we are unable to sell the Securities, the Client shall be obliged to accept the Securities. Please be informed that the funds and/or securities will be transferred after deducting our performance fees and shall be intimated to the client on their registered email address.
The account will be set to close on receipt of the signed closure documents in original. Once the account is closed, the client will get a confirmation regarding the closure of the account on their registered email address.
There are no exit load charges while closing the PMS account.