-- Dear friends I am an Junior army officer having lot of domestic commitments,have joined the PMS –Bluechip of Angel broking selling my numerous mutual funds expecting the better returns compared to my previous mutual fund holdings on 28 July 2008. The total money committed after all hard and badly sqeezed all resources was Rs5.5Lac. In appropriate investment-The portfolio manager invested all my money in mid cap and large cap on any time and not actively managing my portfolio , which is evident by eroding my capital to more than 36 % in last 06 months. Performnace-They have invested in 17 scrips ,out of which 03 scrips such as Tech Mahindra,Sunil Hitech and PVR have come down less than 35% of the cost of purchase. The other scrips Bharti Shipyard is down by49%,Motilal oswal by41%,Tata Consultancy by40%,Pantaloon retail by36%, L&T by 34%, Network 18 by33%,Infosys technology by24%,HDFC bank by19%, IVRCL projects by11%,Sun Pharma by11% ,ICICI Bank by 1%. Only 02 scrips out of 17 scrip ie Cipla and Relience Industries are on marginal gains hardly 1-2 %. My whole capital is eroded by more than 36%, out of my 5.5 Lacs ,I am left with merely 3.86 lacs. Difficult to Exit-Even to get out of the PMS before I year they are charging 2% exit load. The level of inactivity by PMS manager can be understood by the fact that he had done only 40 transactions in all the periods even not put in effort to average, timely exit, re-entry , hedging and other methods used to protect the value of the investor money. questionable transparency-I have asked them if they are reflecting the true picture of all tradings done for me from pool account they say ,all things are alright while it unbelievable that a professional manger can do the same. Not giving quarterly audited report even on payment of copying charges-In spite of repeated requests to provide the audited quarterly audited report of the scheme ,even on payment of copying and any incidental charges ,they are not giving. Suggest solution- I request the experienced blog readers to suggest me a soloution ,should I exit the scheme losing another 2% AS EXIT LOAD, ,Can SEBI help me out . I am waiting your reply ,please do suggest and help ashutosh
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