I invested with Angel Broking Ltd under portfolio management and they have been investing on my behalf for last 5 years. Of late, I have noticed that the quality of stocks they buy is very poor and with consistent negative returns. My statement of account shown in their website is also not transparent. Besides alerting the general investing public, how can I square up atleast my initial investment?
Sometime back I had given an answer on portfolio mgmt. For the general public I am pasting it below.
I had worked at Kotak Securities a couple of years back, so probably i'll be able to throw some light on the matter.
Defination of Portfolio Management: The art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk vs. performance. (Source: http://financial-dictionary.thefreedictionary.com/Portfolio+Manag ement) This can be done by us (if we have expertise) or be done by a professional.
My Perspective: According to me in portfolio mgmt as a profession, a specific sum of money (in any form cash, shares, MF, etc) is given to be managed by professionals based on a pre decided objective. This o ...more
Even when an investor specifically informed them not to invest in certain stocks, they do that and we can not do anything about it. Some times they use telecon recorded to show that we have consented to their plans.
If you have a doubt that they are not friendly anymore, better look for other sources or invest in MFs yourself (unless ur amount is unmanagably large for you)