Wealthy investors continued their faith in portfolio managers or advisory services as the asset base of such entities crossed Rs 13 lakh crore in the Indian capital market at July-end mainly on the back of increase in number of clients.
A portfolio managers advise or directs or undertakes on behalf of the client the management of a portfolio of securities or the funds of the client.
According to data available with capital market regulator Sebi, total assets under management (AUM) of portfolio managers increased from Rs 12,83,106 crore at the end of June from Rs 13,05,758 crore at July-end.
