PMS DISCRETIONARY SERVICES
This scheme is designed for NRIs to make investment into secondary market. This scheme is very popular among our clients. The details of the scheme are as under:
DISCRETION
The scheme operates at our discretion backed by a thorough investment research relieving you of the painstaking exercise of identifying investment opportunities. We have an expert in-house team headed by Mr. Kishor A Shah to decide about the Investment Opportunities
SECONDARY MARKET
This is basically a secondary market investment scheme. However, Investment in New Issues is also considered (only good one). We manage client's portfolios based on research carried out by our market research team & investment analyst.
REPORTING TO INVESTOR
All the reports are available on our website, you need to enter your Login ID and Password to get reports at any time. We maintain following reports on the website:
- Consolidated Portfolio Evaluation Report
- Stock-wise Purchase/Sales Report
- Overall Purchase Report
- Overall Sales Report
- Bank Account Report
- Demat Status Report
Minimum Investment under the scheme is Rs.5,00,000/- or more (either cash or in the form of existing portfolio or combination of both).
OUR CHARGES
PMS FEES : 15% on Profits plus government taxes. Charged quarterly due only if the portfolio has made profits in that quarter.
Note: (Subject to Minimum Rs.2500/- Half Yearly)
All actual expenses like transfer fees, d-mat account charges etc., will be debited to the investor's account.
OPERATIONS OF THE SCHEME
POWER OF ATTORNEY (POA)
The scheme operates on authorisation from the client. The client has to give a POA in favour of "MIDEAST PORTFOLIO MANAGEMENT LTD".
NRE/NRO A/C
We shall open a NRE & NRO account with our bankers " INDUSIND BANK " at Nariman Point branch for the clients. This is for operational facility. Please note there is no legal restriction on number of NRE/NRO accounts held by the investor.
PORTFOLIO INVESTMENT SCHEME (PIS)
As per New RBI Guidelines, every Investor has to maintain PIS a/c with the same bankers where he maintains this NRE / NRO a/c for recording each sale purchase transaction.
RBI PERMISSIONS
We shall obtain all the required RBI permissions for purchase and sale of shares and then carry out buying/selling transactions for the client.
DELIVERY OF THE SHARES
We shall collect the shares purchased from the market and arrange for crediting to your own Demat account. The Dividends / Bonus / Rights etc., that accrue on these shares will be your own benefit. When these shares are sold, we shall deliver them to market from your Demat Account. You can review your Demat report on the website.
WHAT YOU HAVE TO DO
We have placed on our website, all required documents for opening Demat Account like Membership Form, Bank A/c Opening Form, Power of Attorney, PIS Letter. Kindly fill up the same and send us with required documents as per checklist given below to enable us to open the necessary bank & Demat account on your behalf.
Please send cheque/DD for Rs. 10,000/- from your NRE Account in your own name for opening NRE A/c with INDUSIND BANK- Bombay. ( US $ equivalent will also do) The transactions on repartition basis will be carried out through this account.
1.
Passport copy, Visa copy of each holder
2. Photograph of each holder (8 copies each)
3. Foreign Address proof
To
join the scheme, please fill up the above mentioned form and send us along
with the required document and cheque/Demand Draft.