As many as 10 entities have sought SEBI’s approval to start or renew their PMS business.
PGIM India is the latest player to apply for PMS business. Apart from PGIM India, the nine other entities that have sought SEBI’s approval are: Helios Capital Management (India), Patel Wealth Advisor, Vallum Capital Advisors, Sageone Investment Advisors, NNM Securities, White Whale Partners, Awriga Capital Advisors, Willow Capital Partners and Willow Advisors.
|
Name of the Applicant |
Date of Filing |
|
Helios Capital Management (India) LLP |
15-May-19 |
|
Patel Wealth Advisor |
29-May-19 |
|
Vallum Capital Advisors Private Limited |
03-Jun-19 |
|
Sageone Investment Advisors LLP |
11-Jun-19 |
|
NNM Securities Pvt. Ltd. |
30-Sep-19 |
|
White Whale Partners LLP |
26-Jun-19 |
|
Awriga Capital Advisors LLP |
08-Jul-19 |
|
Willow Capital Partners LLP |
26-Jul-19 |
|
Willow Advisors LLP |
08-Aug-19 |
|
PGIM India |
11-Sep-19 |
PMS industry is likely to witness a sea change in the coming days. In August, SEBI issued a consultation paper which proposes that the industry ban upfront commission and move to all trail model to compensate their distributors to reduce mis-selling. Another major proposal is to increase the minimum investment threshold limit from Rs 25 lakh to Rs 50 lakh.
As of August end, AUM of the PMS industry stood at Rs.16.70 lakh crore. Excluding EPFO/PF investments, AUM of the industry stood at Rs.4.40 lakh crore.