Investor Charter — Portfolio Management
Diligently researched, customised investment strategies that help you meet long-term financial goals in a risk-appropriate manner — with clear services, timelines and grievance redressal.
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 the PMS industry provides a viable investment avenue for wealth creation — by adopting high levels of skill, integrity, transparency and accountability.
Our conduct
Business transacted with investors
Appropriate risk-profiling of investors.
Provide the Disclosure Document to investors.
Execute the PMS agreement.
Make investment decisions on behalf of investors (discretionary), at the investor's discretion (non-discretionary), or advise investors (advisory).
What we do
Services provided to investors
Discretionary & Non-Discretionary PMS
- Give your portfolio in stocks, cash or a mix — minimum ₹50 lakh (SEBI Regulations)
- Manager ascertains your objectives to target optimal returns per your risk profile
- Discretionary — decisions at the manager's discretion, aligned to your objectives
- Non-discretionary — investment decisions taken at the investor's discretion
Investment Advisory Services
- Advised on buy / sell within your overall profile
- No back-office responsibility for execution, custody or accounting
- Manager acts in a fiduciary capacity, at arm's length from other activities
Client On-boarding
- Compliance with KYC & AML guidelines
- Franking & signing of the Power of Attorney
- Opening & funding the demat account from your verified bank account
- Mapping the demat account with the Custodian
Ongoing activities
- Periodic statements per PMS Regulations 2020 & SEBI circulars
- An audited account statement to each client on an annual basis
Fees & Expenses
- Charging & disclosure of appropriate fees & expenses per PMS Regulations
Closure & Termination
- On termination by either party, securities & funds are transferred to your verified bank / demat account
Grievance Redressal
Addressing investors' queries, service requests and grievances in a time-bound manner on an ongoing basis.
Service commitments
Services & estimated timelines
The number of days indicates clear working days.
| # | Service / Activity | Timeline |
|---|---|---|
| 1 | Opening of PMS account (residents) | 7 days from receipt of all requisite documents |
| 2 | Opening of PMS account (non-individual clients) | 14 days from receipt of all requisite documents |
| 3 | Opening of PMS account (non-resident clients) | 14 days from receipt of all requisite documents |
| 4 | Registration of nominee | Along with account opening (same turnaround) |
| 5 | Modification of nominee | 10 days from receipt of the modification form |
| 6 | Uploading PMS account to KRA & CKYC | 10 days from date of account opening |
| 7 | Portfolio manager's SEBI registration number | At agreement signing (in account opening form & disclosure doc) |
| 8 | Disclosure of networth & total AUM | AUM monthly to SEBI; networth on material changes |
| 9 | Intimation — discretionary account type | At agreement signing (account opening form) |
| 10 | Intimation — non-discretionary account type | At agreement signing (account opening form) |
| 11 | What a discretionary account entails & manager's powers | At agreement signing |
| 12 | What a non-discretionary account entails & manager's powers | At agreement signing |
| 13 | Copy of executed PMS agreement to client | Within 3 days of client request |
| 14 | Frequency of disclosure of eligible funds | Quarterly |
| 15 | Funds & securities balance statements | Quarterly or upon client request |
| 16 | Custodian name & demat account number | Within 3 days of PMS & demat account opening |
| 17 | Conditions of termination of contract | At agreement signing |
| 18 | PMS fees, payment mode & deduction frequency | At agreement signing |
| 19 | Copy of PoA to client | Within 3 days of client request |
| 20 | Transactions the manager can do using PoA | At agreement signing |
| 21 | Frequency of audited reports to clients | Annual |
| 22 | Explanation of investment risks | At agreement signing |
| 23 | Tenure of portfolio investments | Indicative, at agreement signing |
| 24 | Restrictions imposed by investor (negative list) | At agreement signing |
| 25 | Settling of client funds & securities | By Custodian; details quarterly (prescribed format) |
| 26 | Frequency of transaction intimation | Quarterly or upon client request |
| 27 | Conflict of interest / related-party transactions | In the Disclosure Document (on website at all times) |
| 28 | Providing the Disclosure Document | Prior to account opening; on website at all times |
| 29 | Bank accounts holding client funds | At account opening |
| 30 | Redressal of investor grievances | Within 30 days (subject to information provided) |
If something goes wrong
Grievance redressal mechanism
How to escalate
Investor lodges a complaint
PMS Provider
- Approach the Investor Relations Officer (details in the Disclosure Document)
- Grievance redressed within 30 days
↘Not satisfied with the resolution
SEBI SCORES
- Every PMS provider is registered on SCORES
- Lodge & track your complaint online
↘Not satisfied with the resolution
SEBI
- SEBI takes up the matter with the PMS provider
- Follows up until resolution
It is mandatory for every PMS provider to register on SEBI SCORES. The Investor Relations Officer's details are in the PMS Disclosure Document.
Physical complaints
Office of Investor Assistance and Education,
Securities and Exchange Board of India,
SEBI Bhavan, Plot No. C4-A, 'G' Block,
Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051
Your part
Responsibilities of investors
Check the registration status of the intermediary on the SEBI website before availing services.
Submit KYC documents & application form in time, with signatures and supporting documents.
Read the terms & conditions of the agreement carefully before signing.
Thoroughly study the PMS Disclosure Documents to understand the risks involved.
Answer the 'Risk Questionnaire' accurately & sincerely for proper risk profiling.
Study the quarterly statements — absolute & relative performance, constituents and risk profile.
Provide complete negative-list (freeze) details at agreement time and for any changes.
Update the PMS provider on any change in KYC / personal details, with required proof.
Transparency
Investor complaints data
Disposal of investor complaints, published as required by SEBI.
Portfolio Manager — SEBI Reg. No. INP000007720. For any grievance, reach Estee Advisors Pvt. Ltd at investorsgrievances@esteeadvisors.com.