Portfolio managers' assets drop to Rs 11.89 lakh cr in February

Total assets managed by portfolio managers have dropped by a little over Rs 8,200 crore to Rs 11.89 lakh crore at the end of February — the first decline in more than a year.

Before this, the asset base of portfolio managers was continuously rising since January 2016.

A portfolio manager is a body corporate that advises or directs or undertakes on behalf of the client the management of a portfolio of securities or the funds of the client.

According to the Securities and Exchange Board of India (Sebi), total assets under management (AUM) of portfolio managers were Rs 11,89,243 crore at the end of February as against Rs 11,97,455 crore in the preceding month, translating into a decline of Rs 8,212 crore.

However, the number of clients rose to 75,011 last month from 73,642 in January this year.

The AUM of portfolio managers was increasing since January last year when AUM stood at Rs 10.23 lakh crore. The asset base was at Rs 10.4 lakh crore in December 2015.

Portfolio managers handled assets worth Rs 9,49,960 crore for discretionary services in February-end, besides Rs 1,65,371 crore for advisory services and another Rs 73,912 crore for non-discretionary investments during the period under review.

Of the total assets managed, Rs 8.41 lakh crore was contributed by Employee Provident Fund Organisation (EPFO) or provident fund (PF), Sebi data showed.