IndiaNivesh to wind up PMS biz, hand over assets under custody to clients

Clients can opt to liquidate shares or transfer them to their demat accounts

IndiaNivesh has decided to shut down its portfolio management services (PMS) business, the company said in a communication to its clients.

“In view of the current market volatility pursuant to the global outbreak of Covid19 and its long-term impact on our business, we have decided to close our operation at IndiaNivesh Investment Managers, a Sebi-registered portfolio manager. Thus our sole strategy of Sprout Portfolio will be wound up,” the firm said.

IndiaNivesh has decided to hand over all assets under custody (AUC) to its clients. The investment managers has said clients will have to choose between liquidating their holdings or transferring the