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[Cites 0, Cited by 0] [Section 14(1)] [Section 14] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 14(1)(b) in Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993

(b)The agreement between the portfolio manager and the client shall, inter alia, contain:
(i)the investment objectives and the services to be provided;
(ii)areas of investment and restrictions, if any, imposed by the client with regard to the investment in a particular company or industry;
(iii)type of instruments and proportion of exposure;
(iv)tenure of portfolio investments;
(v)terms for early withdrawal of funds or securities by the clients;
(vi)attendant risks involved in the management of the portfolio;
(vii)period of the contract and provision of early termination, if any;
(viii)amount to be invested subject to the restrictions provided under these regulations;
(ix)procedure of settling client's account including form of repayment on maturity or early termination of contract;
(x)fees payable to the portfolio manager;
(xi)the quantum and manner of fees payable by the client for each activity for which service is rendered by the portfolio manager directly or indirectly (where such service is out sourced);
(xii)custody of securities [and goods];
(xiii)in case of a discretionary portfolio managera condition that the liability of a client shall not exceed his investment with the portfolio manager;
(xiv)the terms of accounts and audit and furnishing of the reports to the clients as per the provisions of these regulations; and
(xv)other terms of portfolio investment subject to these regulations.