I guess every trader who is even slightly successful gets these kinds of offers. Also, there is a general impression that stock markets are all working on black money only.
Now, if someone wants to legally manage others' portfolios, what is the procedure ? How does one become a registered portfolio manager ? Also, what are the limitations (like not being able to trade in derivatives etc).
I can also gather that a day trader can not legally become a money manager / trader on someone else's behalf. Or is there a way ?
Now, if someone wants to legally manage others' portfolios, what is the procedure ? How does one become a registered portfolio manager ? Also, what are the limitations (like not being able to trade in derivatives etc).
I can also gather that a day trader can not legally become a money manager / trader on someone else's behalf. Or is there a way ?
Dear TP
here is a link for furthar information about 'portfolio manager'. If you see the difficult norms and high cost involved, very few individuals opt for this.
in any case this is useless for someone who trades purely 'futures'.
few brokers I know who have a pms were actually heavily into cash-futures arbitrage for their institutional clients and nothing else.
http://www.sebi.gov.in/faq/faqpms.html
regards