Faqs Two – QRC

What is the process and time frame for closing the account?

To close an account, you need to send us an email from the registered email address. Once received, we will proceed with sale / transfer funds/securities to your personal account. You will receive a final closure report with relevant details/fee calculation by email. Account closing form will have to be signed and submitted to us

Is the client required to top up his account if the portfolio value falls below the minimum investment amount as provided in the SEBI (Portfolio Managers) Regulations, 2020 as a result of valuation of portfolio?

How do I partially withdraw/redeem funds from the portfolio account?

Client needs to send email to us from their registered email id. We will process the redemption and send the funds to your personal bank account registered with us for redemption. Partial redemption can be done upto an amount such that after redemption, the balance value of the portfolio should be minimum INR 50 lakhs

What information will investors receive on regular basis?

Initial Communication sent after account is opened/setup: Demat account opening and setup confirmation Regular communication: Any Fund/Securities transferred by client to the PMS account (inflow/outflow) Quarterly report – Portfolio statement on quarterly basis, generally by 10th working day of following month. Website Login – We provide website login facility for the client to the portal

Can I add new funds on a regular basis?

You can transfer funds, either through a cheque or a wire transfer, directly into the pool bank account either on ad-hoc basis or as an SIP. Do inform us as and when you do transfer any funds into the bank account so that we can ensure correct and timely reconciliation.

Can I transfer a combination of funds and stocks to the portfolio at the time of starting the portfolio?

Once the account is opened, we will send the pool bank account and demat account details to you. You can either send us a cheque or transfer funds to the pool bank account. As per regulations, the funds can come only from a bank account that is in the name of the investor. Securities can

Can I have a joint account and/or nominee?

Your demat account can be opened just as you would open it normally as single holder or joint holders with a nominee. For the demat account, you can have more than one nominee specifying the share of each nominee.

What is the process involved and time taken to set up the account?

Once you confirm that you are interested in entrusting us with your long-term equity investments, you will need to provide us with scanned copies of the PAN and Address proof (Passport/Aadhaar/Voter ID) of the proposed account holder(s) and nominee, if any. We will then help you fill out the documents and send across for signatures.

How does the custody process eliminate the broker risk?

Edelweiss is the custodian of client assets through its custodial service. The Demat accounts are held at Edelweiss in the name of the client. The settlement process is such that when the PMS buys, the funds get debited from the pool account and are paid to the exchange directly by Edelweiss custody (and not to

Where do I open the Bank and Demat Account?

For all our clients, we open separate Demat accounts with Edelweiss Broking Limited. The accounts thus opened are managed by a Custodian – Edelweiss Custodial Services Ltd. Per SEBI’s regulations, there is no longer a need to open separate bank accounts for clients. The funds invested in the PMS are parked in the pool account

Category Faqs Two