SHCIL launches Portfolio Management Services for retail segment

Bangalore, Jan 18 (UNI) Stock Holding Corporation of India Ltd group company SHCIL Services Ltd (SSL) today launched 'SHCIL-Kuber', a portfolio management service, for the retail segment that offers top class services to common investors at affordable price.

Speaking after the launch, SSL CEO S Ramanathan said portfolio management schemes were being launched in response to the need for such services for retail HNI investors. Benchmark Index would be the NSE's broad-based NIFTY and dividend yield would be benchmarked against dividend yield on NIFTY average.

SHCIL-Kuber offered many other schemes such as Opportunity Fund, Grow-Val and Dividend Yield to investors who could choose them depending on their risk appetite, he said.

The company had launched retail broking in June last year and was operating from over 140 locations in the country through the offices of SHCIL.

Mr Ramanathan said SHCIL had emerged as the country's largest depository participant and the total value of assets it held in custody as on March 31, 2006, amounted to Rs 5,493 billion. SSL, a member of the Bombay Stock Exchange, would soon be getting the membership of National Stock Exchange, he added.

UNI