PMS would invest on behalf of its clients in their separately managed accounts in various securities including listed equities, unlisted equities, fixed income instruments, hybrid or structured products etc. Investment solutions in a PMS can be provided in three ways – Discretionary Portfolio Management, Non-Discretionary Portfolio Management

• Discretionary: Under these services, the choice, as well as the timings of the investment decisions, rest solely with the Portfolio Manager.
• Non-Discretionary: Under these services, the portfolio manager will execute trades based on the client’s investment decision.