Portfolio managers' assets up 18% to Rs 12.30 lakh cr in FY17

The assets handled by portfolio managers have surged by a staggering Rs 1.85 lakh crore to Rs 12.30 lakh crore at the end of the past fiscal, mainly on the back of increase in number of clients.
This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).
A portfolio manager is a body corporate who 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 data available with markets regulator Sebi, total assets under management (AUM) of portfolio managers were at Rs 12,30,482 crore at the end of 2016-17 as against Rs 10,45,428 crore at the close of the preceding fiscal, registering a gain of 18 per cent.

Barring February, assets base of portfolio managers rose for the whole of the gone-by fiscal.
Besides, the number of clients rose to 77,150, from 52,288, during the period under review.
Portfolio managers handled assets worth Rs 9,67,036 crore for discretionary services, besides Rs 1,88,385 crore for advisory services and another Rs 75,061 crore for non-discretionary investments during the period under review.
Of the total assets managed by such managers, about Rs 8.56 lakh crore were contributed by the Employee Provident Fund Organisation (EPFO), Sebi data showed.