The assets base of portfolio managers dropped to Rs 10.19 lakh crore in the Indian capital markets at the end of February as wealthy investors are shifting away from such entities for investments or advisory services.
This also marks the second consecutive decline in the assets under management (AUM) of portfolio managers, who mostly manage investments or provide advisory services to High Networth Individuals (HNIs).
Besides, the number of clients fell to 50,795 last month from 59,294 in the preceding month.
According to Securities and Exchange Board of India, AUM of portfolio managers was at Rs 10.19 lakh crore at the end of February as against Rs 10.24 lakh crore in the preceding month.
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