Reliance Money to launch PMS by mid January

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Kolkata, Dec 20 (UNI) Reliance Money, the financial services and products distribution arm of Reliance Anil Dhirubhai Ambani Group, has decided to launch its portfolio management services (PMS) by the middle of January next targetting the masses.

Director and CEO Sudip Bandopadhyay told reporters here today that the company had pegged the investment in the range between Rs 500,000 and Rs 7500,000 for such services.

" The service would be launched nationally by January 15. It is aimed at the masses," Mr Bandopadhyay said.

PMS has so far been marketed to only high net worth individuals, who could invest at least Rs 1000,000 or above.

Mr Bandopadhyay said the company would not be charging fees from those getting a return of less than eight per cent on their savings.

The invested money would be put in the equity market for a sustained growth of minimum nine per cent, he said.

Under the PMS, a client can choose from among three portfolio options - aggressive, non-aggressive and infrastructure, Mr Bandopadhyay said.

UNI

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