Mehta Equities launches PMS, ties up with HDFC

Mumbai, Oct 11: With an eye on the visible void in the PMS market, Mehta Equities Ltd (MEL) yesterday announced the launch of its Portfolio Management Services (PMS), for high networth investors (HNIs) across India and Gulf region.

The company, which proposes to offer three schemes, namely M Peace, M Pace and M Discover to meet needs for varied investor profiles, has tied up with HDFC Bank for the custodial and banking services to the PMS clients.

Launching the PMS, Mehta Group Chairman Rakesh Mehta said, ''The product would cater to the diverse investment needs of different classes of investors as per their individual risk profile and preferences and at the same time achieve diversification.'' The launch of PMS is in line with the emerging requirements of contemporary investors as we aim to leverage our expertise in equity research and securities trading to enhance service offerings to investors, he added.

Speaking on the occasion, former Executive Director UTI, B G Daga who is also an independent director of MEL, said, ''It was imperative for our company to expand its services to suit the needs of various investor segments to remain competitive in the financial market and hence the launch of our PMS.'' MEL PMS will be available to investors across the country and through all its 70 branches and franchise offices. The company plans to organise road shows in the first stage of rollout. Later it proposes to tap Middle East region for its PMS offerings.

UNI