Wealthy investors seem to have more faith in their portfolio managers for investments or advisory services as the assets under management of such entities have reached Rs 10.41 lakh crore in the Indian capital market at December-end.
In comparison, assets base of portfolio managers, who mostly manage investments or provide advisory services to High Networth Individuals (HNIs), stood at Rs 8.68 lakh crore in December 2014.
According to the Securities and Exchange Board of India (Sebi), Assets Under Management (AUM) of portfolio managers increased to Rs 10.41 lakh crore at the end of December 2015, from Rs 10.11 lakh crore in the preceding month.
Portfolio managers individually handled assets worth Rs 7,84,496 crore for discretionary services, besides Rs 1,99,788 crore for advisory services and another Rs 56,799 crore for non-discretionary investments during the period under review.
Of the total assets managed by portfolio mangers, about Rs 7.08 lakh crore was contributed by employee provident fund organisation (EPFO) or provident fund (PF), Sebi data showed.
Besides, the number of clients rose to 59,746 in December last year from 46,221 in the year-ago period.
