Vision:
To implement diligently researched customised investment strategies which help investors meet their long-term financial goals in a risk appropriate manner.
Mission:
To ensure that the PMS industry provides a viable investment avenue for wealth creation by adopting high levels of skill, integrity, transparency and accountability.
Timelines of the services provided to investors are as follows:
Sr. No. |
Service / Activity |
Timeline |
1 |
Opening of PMS account (including demat account) for residents. |
7 days from receipt of all requisite documents from the client, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable. |
2 |
Opening of PMS account (including demat account) for non-individual clients. |
14 days from receipt of all requisite documents from the client, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers, as may be applicable. |
3 |
Opening of PMS account (including demat account, bank account and trading account) for non-resident clients. |
14 days from receipt of all requisite documents from the client, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable. |
4 |
Registration of nominee in PMS account and demat account. |
Registration of nominee should happen along with the account opening. Therefore, turnaround time should be the same as account opening turnaround time. |
5 |
Modification of nominee in PMS account and demat account. |
10 days from receipt of requisite nominee modification form, subject to review of the documents for accuracy and completeness by the portfolio manager and allied third party service providers, as may be applicable. |
Sr. No. |
Service / Activity |
Timeline |
6 |
Uploading of PMS account in KRA and CKYC database. |
10 days from date of the account opening. (Portfolio Manager may rely on the custodian for updating the same). |
7 |
Whether portfolio manager is registered with SEBI. If yes, then SEBI registration number. |
At the time of client signing the agreement; this information should be part of the account opening form and disclosure document. |
8 |
Disclosure about latest networth of portfolio manager and total AUM. |
Disclosure of portfolio manager's total AUM – should be done monthly to SEBI. Disclosure of latest networth should be done in the disclosure document, whenever there are any material change. |
9 |
Intimation of type of PMS account – discretionary. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
10 |
Intimation of type of PMS account - non discretionary. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
11 |
Intimation to client what discretionary account entails and powers that can be exercised by the portfolio manager. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
12 |
Intimation to client what non- discretionary account entails and powers that can be exercised by the portfolio manager. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
Sr. No. |
Service / Activity |
Timeline |
13 |
Copy of executed PMS agreement sent to client. |
Within 3 days of client request. |
14 |
Frequency of disclosures of available eligible funds. |
All details regarding client portfolios should be shared quarterly (point 26). |
15 |
Issuance of funds and securities balance statements held by client. |
This data should be shared on a quarterly basis or upon client request. |
16 |
Intimation of name and demat account number of custodian for PMS account. |
Within 3 days of the PMS and demat account opening. |
17 |
Conditions of termination of contract. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
18 |
Intimation regarding PMS fees and modes of payment or frequency of deduction. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
19 |
POA taken from the client, a copy providing to the client. |
Within 3 days of client request. |
20 |
Intimation to client about what all transactions can the portfolio manager do using PoA. |
At the time of client signing the agreement; this information should be a part of the account opening form. |
21 |
Frequency of providing audited reports to clients |
Annual. |
22 |
Explanation of risks involved in investment. |
At the time of the client signing the agreement; this information should be a part of the account opening form. |
Sr. No. |
Service / Activity |
Timeline |
23 |
Intimation of tenure of portfolio investments. |
Indicative tenure should be disclosed at the time of the client signing the agreement; this information should be a part of the account opening form. |
24 |
Intimation clearly providing restrictions imposed by the investor on the portfolio manager. |
Negative list of securities should be taken from the client at the time of client signing the agreement; this information should be part of the account opening form. |
25 |
Intimation regarding settling of client funds and securities. |
Settlement of funds and securities is done by the Custodian. The details of clients’ funds and securities should be sent to the clients in the prescribed format not later than on a quarterly basis. |
26 |
Frequency of intimation of transactions undertaken in portfolio account. |
Not later than on a quarterly basis or upon clients' request. |
27 |
Intimation regarding conflict of interest in any transaction. |
The portfolio manager should provide details of related party transactions and conflict of interest in the Disclosure Document which should be available on website of the portfolio manager at all times. |
28 |
Timeline for providing disclosure document to investor. |
The latest disclosure document should be provided to investors prior to account opening and the latest disclosure documents should be available on website of the portfolio manager at all times. |
29 |
Intimation to investor about |
Within 3 days of PMS and demat account |
Sr. No. |
Service / Activity |
Timeline |
details of bank accounts where client funds are kept. |
opening |
|
30 |
Redressal of the investor grievances. |
Within 30 days, subject to all the information required to redress the complaint is provided by the complainant to the portfolio manager |
Notes: The number of days in the above timelines indicate clear working days
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Bipinchandra Dugam @bipinchandra90
@devinamehra @firtglobalsec
invested in both GFF-GTS and Super I50. Thank you very much for such wonderful investing experience with completely new approach. In my 15years of investing first product I felt which close to what customer want.
Shishir Kapadia @shishirkapadia1
@firstglobalsec @devinamehra
by far you are the best, I have not come across transparency, acumen, global expertise, exposure, protection of capital, delivering return from any fund/ fund managers. Invested very small size in 3 products will keep on increasing it over the period
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