| Sudip Bandyopadhyay, Director & CEO, Reliance Money Limited, said the Rs 5 lakh ticket size was the lowest among portfolio schemes in the country. Some major players, including Citigroup, HSBC, Barclays, Geojit Financial, Motilal Oswal, Angel Broking and Religare Enterprises, are into PMS in the country. |
| Bandyopadhyay said Reliance Money's PMS will target the lower middle-class segment such as techies and other young professionals. |
| "We feel this is the right time to launch a product of this nature as the market has come off its recent highs. This is the time for investment and PMS offers an ideal opportunity," he said. |
| The existing schemes run by big players have an entry size of Rs 25 lakh and above. "Most of the schemes on offer at the moment are aimed at high net worth investors. Our product will aim to bring down the ticket size so as to ensure that you and me can participate in India's economic growth through the stock market," he said. |
| Reliance Money is also unleashing a public campaign for the products through Hotstuff Advertising. |
| Arun Fernandes, CEO, Hotstuff Advertising, said, "Reliance Money wanted us to create effective means of advertising that produces mass attention through presence at select strategic locations to announce the launch of the PMS. We decided to use unique ways of ambient visibility like mobile vans... The campaign was conceptualised based on the core consumer insight "� Money management gets me severe headache, I would prefer an expert to manage it." |
| The fee structure for the PMS is also uniquely kept. For up to 8 per cent returns, the fund house will not charge any fee. For 8-20 per cent returns, there is a small fee and for above 20 per cent returns, the fund manager will enjoy higher fees, he said. |
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