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Portfolio manager
A portfolio manager is a person who makes investment decisions using money other people have placed under his or her control. In other words, it is a financial career involved in investment management. They work with a team of analysts and researchers, and are ultimately responsible for establishing an investment strategy, selecting appropriate investments and allocating each investment properly for a fund- or asset-management vehicle. Portfolio managers are presented with investment ideas from internal buyside analysts and sell-side analysts from investment banks. It is their job to sift through the relevant information and use their judgment to buy and sell securities. Throughout each day, they read reports, talk to company managers and monitor industry and economic trends looking for the right company and time to invest the portfolio's capital. A team of analysts and researchers are ultimately responsible for establishing an investment strategy, selecting appropriate investments and allocating each investment properly for a fund or asset-management vehicle. Portfolio managers make decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against Performance. Portfolio management is about strengths, weaknesses, opportunities and threats in the choice of debt vs. equity, domestic vs. international, growth vs. safety, and other tradeoffs encountered in the attempt to maximize return at a given appetite for risk. In the case of mutual and exchange-traded funds (ETFs), there are two forms of portfolio management: passive and active. Passive management simply tracks a market index, commonly referred to as indexing or index investing. Active management involves a single manager, co-managers, or a team of managers who attempt to beat the market return by actively managing a fund's portfolio through investment decisions based on research and decisions on individual holdings. Closed-end funds are generally actively managed.

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Preparing For a Career as a Portfolio Manager One of the most coveted careers in the financial industry is that of the portfolio manager. Portfolio managers work with a team of analysts and researchers, and are ultimately responsible for making the final investment decisions for a fund - or asset-management vehicle. While a portfolio manager is a position that a person must work his or her way up to over the course of a career, there are a few initial steps that you can take to help you on your way to being a portfolio manager. Background of Portfolio Managers If you are still an undergraduate student who is considering a career as a portfolio manager, it is advisable to take courses in business, economics, accounting and math. Many portfolio managers also have an academic background in computer science, engineering, physics or biology. An MBA degree, in addition to an undergraduate degree, is also a popular among portfolio managers. A professional designation many portfolio managers also possess is the Chartered Financial Analyst (CFA) charter. In order to achieve this designation, candidates must demonstrate a proficiency in financial and accounting terms and techniques, economics and quantitative analysis, as well as prove the required work experience. (For related reading, see What Does "CFA" Mean?) Within a firm, portfolio managers are often promoted from the rank of research analyst. Working as an analyst is a great training ground for becoming a portfolio manager. It provides a framework for making crucial portfolio decisions, such as buying or selling a security, and determining the underlying economic conditions that affect those securities. Even if you have yet to enter a professional environment, you may want to begin by picking and choosing stocks in a mock portfolio club/online simulator. (Trade $100,000 of virtual cash in our Investopedia Simulator.) Such an experience will give you a good idea of what being a portfolio manager is truly like. (To learn more, read Becoming A Financial Analyst.)

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Types of Portfolio Manager Positions:

There is a wide variety of positions within the realm of portfolio manager. The positions depend on the following criteria:
1. Size of Fund: A portfolio manager may manage assets for a relatively

small independent fund or a large asset management institution. A portfolio manager may also manage the capital of a large business such as a bank or an organization that has a large endowment, such as a college or university. A manager who manages assets for a large money management institution is commonly referred to as a portfolio manager, while someone who manages smaller fund assets is typically called a fund manager. Someone who manages assets for a large business organization or a college is commonly referred to as a chief investment officer (CIO). 2. Type of Investment Vehicles: All types of money managers perform virtually the same function: managing assets for their respective investment vehicles, which vary widely. The range of investment vehicles includes retail or mutual funds, institutional funds, hedge fund products, trust and pension funds, and commodity and high net worth investment pools. Portfolio managers may manage equity or fixed-income investment vehicles and often specialize in one or the other. 3. Investing Style: In addition to specializing in equity- or fixed-income investing, portfolio managers tend to specialize when it come to styles of investing. The range of investment styles includes using hedging techniques, a growth or value style of management, small or large cap specialties and domestic or international fund investing.

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A Day in the Life of a Portfolio Manager Although a day in the life a portfolio manager is diverse, one constant is checking the status of the financial markets and staying on top of current events. A portfolio manager will meet regularly with his or her analysts in order to discuss market developments and the trends of relevant current events. Since a portfolio manager's day is dictated by the start of the financial markets, they generally tend to be one of the very first employees into the office in the morning. (For more insight, see Short-, Intermediateand Long-Term Trends.) A portfolio manager directs all of the trades the fund or portfolio makes during the day by making final decisions on the securities involved. He or she meets with analysts that have conducted research on various securities and the institutions that have issued them. Based on their recommendations, the portfolio manager makes the ultimate decisions of what securities to buy or sell. Some asset management styles, such as growth portfolios or funds, have a higher security turnover than others, such as value management. In addition to meeting with the analysts on staff and monitoring the markets and current events, a portfolio manager has many other responsibilities. Portfolio managers often meet with high-level investors, or potential investors, in person or over the phone. In addition, portfolio managers of large funds often conduct interviews with the financial media such as The Wall Street Journal, The Financial Times or CNBC. While they often only give an overview of current economic conditions, appearing in the financial media provides publicity for the investment vehicles they manage as well as the firms they represent. (Find out whether your advisor is a league leader or a benchwarmer, in Does Your Investment Manager Measure Up?) All in a Day's Work a day in the life of a portfolio manager is filled with challenge, but also offers financial and intellectual reward. It begins early and often ends late, but in-between those times lie many interesting challenges and opportunities. If you are highly analytical and have a love of the financial markets and the ever-changing world of current events, a career as a portfolio manager may be for you.

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MOTILAL OSWAL FINANCIAL SERVICES LTD.

(BSE, NIFTY, NASDAQ, FTSE 100, Nikkei 225, Dow Jones, Hang Seng) is a diversified financial services firm offering a range of financial products and services such as Wealth Management , Broking & Distribution, Commodity Broking, Portfolio Management Services , Institutional Equities, Private Equity, Investment Banking Services and Principal Strategies.

Background The company was formed in 1987 by Motilal Oswal and Raamdeo Agrawal after they acquired membership on The BSE. Motilal Oswal was elected director and joined the Governing Board of The Bombay Exchange in 1998. Motilal Oswal Securities is a Depository Participant of NSDL and a Depository Participant of Central Depository Services Limited (CDSIL) in 2000. The company started offering Derivatives products and advisory services on both BSE as well as NSE in 2001 In 2006, the company entered Private Equity and Investment Banking business. In the same year, Motilal Oswal group acquired South Indian brokerage firm Peninsular Capital Markets. The company tied up with State Bank of India and Punjab National Bank in 2006 and 2007 to offer online trading to its customers. 2008 saw the company create one of India's largest Equity Dealing & Advisory rooms, spread over 26,000 sq ft (2,400 m2) in Malad, Mumbai. In January 2010, Motilal Oswal Financial Services (through its subsidiary Motilal Oswal Securities Ltd.) received the final certificate of registration approval from Securities and Exchange Board of India (SEBI) to set up a mutual fund business in the country.

Awards and recognitions

CNBC TV18 awarded Motilal Oswal the Best Performing Equity Broker Award in 2010
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Motilal Oswal IB team won the Asia Pacific Cross Border Deal of the year award in 2010 and the CEO Ashutosh Maheshvari got India M&A Investment Banker of the Year award Motilal Oswal Securities Ltd. rated as No.1 Broker in ET Now Starmine Analyst Awards 2009. MOSL was 'Rated No.1 Best recommendations Mid & Small Caps' and won awards in 3 out of 4 categories at the Starmine India Broker Rankings 2009 from Thomson Reuters. MOSL awarded the Nasscom - CNBC. TV 18 IT User Award 2008. MOSL awarded 'The Best Franchisor in Financial Services' by Franchisee. World Magazine 2008 for the second consecutive year. D & B. survey 2007 rates MOSL as India's top second Broking House in terms of total number of trading terminals. Asia Money Brokers poll 2007. Rated Motilal Oswal Securities Ltd. Best Overall Country Research - Local Brokerage. Motilal Oswal Commodities Broker Pvt Ltd (MOCBPL) bagged Global India's prestigious 'Outstanding Commodity Broking House 2007' Award. Asia money Brokers poll 2006 rates Motilal Oswal Securities Most Independent Research- Local Brokerage. Avaya Global ranked MOSL as the second best company in the Financial Sector for customer responsiveness in 2006. Asia money Brokers Poll 2005 rates Motilal Oswal Securities - Best Local Brokerage, Most Independent Research Brokerage, Best in Sales and Service.

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Interview of Portfolio Manager

Name: - Rajbir Singh. Age: -27 Year. Qualification: - MBA. Experience: - 3 Year.( In Adviser) Phone: - +91 9619985142 Email: - rajbir.singh@motilaloswal.com Office Add: - 91/92, 9th floor, Bajaj Bhawan, Nariman Point, Mumbai 400 021. +91 22 3980 4279. www.motilaloswal.com Motilal Oswal Securities Ltd. As Financial

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Steps while advising their Client in Securities.

1)

Profiling:

Age, Income, Liquidity, family details, specified goals, Risk taking ability this is the Information taken while profiling.

2) Assets Allocation:
__________________________________________________________________

Equity
(I)Mutual Fund fund (II)Direct Equity (III)PMS

Debt
(I) Fixed Deposit (II) Non-Convertible Debenture (III) Short term debt funds, NIPS, etc.

Alternative Investment
(I) Real estate (II) Gold (III) Silver (IV) Art, etc.

3)

Proposal:

Let us Assume 100% Investment, If A 40Yrs. Investor comes to invest they give them the following Advise.

__________________________________________________________________

Equity
100-40=60%

Debt 30% 8

Alternative Investment 10%

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This is normal proposal made by the Advisor. Regarding his Portfolio Investment.

4)

Investment Option:

Final
__________________________________________________________________

Equity Return 15-18%

Debt 8-10%

Alternative Investment 20%

Considering their expected Return an Risk factor and period. Ones the final proposal is taken. Assets Allocation Investment Option

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5) Reviewing of Portfolio

Reviewing of portfolio is done on Monthly, Quarterly, Half yearly. In Reviewing of portfolio the portfolio is Re-Balance. Which means if the equity market is not doing well, then the Income of Debt and Alternative Market if put into the Equity market of the portfolio.

The work is done of a Portfolio Advisor.

Investment Advise while there is Boom or Recession.

Boom :-

The economy is doing good, Inflation Rate and Consumption is also good. Trader makes Money. [e.g. Sensex- 17000 which grows to 20,000] The traders Invest and Remove their Money keeps Day-ByDay. The investor keeps their money while there is Boom.

Recession:-

High Inflation / Deflation, jobs cut unemployment Rate is high.

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Traders does not make money. [e.g. Sensex- 20,000 which come down to 17,000] Traders does not Invest or Remove their money. Investment Advice when there is different types of clients.

16 14 12 10 Risk 8 6 4 2 0 2 4 6 8 10 12 14 16 Return Risk and Return table:

7-8%

Low Risk, Low Return.

8-12 % & 12-15 %

Medium Risk, Medium Return.

15% above
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High Risk, High Return.

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__________________________________________________________________

Equity Return 15-18% Period Normal

Debt 8-10% Normal

Alternative Investment 20% 3Yrs. , 5Yrs., 7Yrs.

Note: Depends upon clients liquidity Life Insurance Corporation of India The Life Insurance Corporation of India (LIC) (Hindi: ) is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 13.25 trillion (US$295.48 billion). It was founded in 1956 with the merger of 243 insurance companies and provident societies. Headquartered in Mumbai, financial and commercial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 113 divisional offices located in different parts of India, around 3500 servicing offices including 2048 branches, 54 Customer Zones, 25 Metro Area Service Hubs and a number of Satellite Offices located in different cities and towns of India and has a network of 13,37,064 individual agents, 242 Corporate Agents, 79 Referral Agents, 98 Brokers and 42 Banks (as on 31.3.2011) for soliciting life insurance business from the public. The slogan of LIC is "Zindagi ke saath bhi,Zindagi ke baad bhi" (Hindi: , ) which means "during life and after life".

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History The Oriental Life Insurance Company, the first corporate entity in India offering life insurance coverage, was established in Calcutta in 1818 by Bipin Bernard Dasmgupta and others. Europeans in India were its primary target market, and it charged Indians heftier premiums. The Bombay Mutual Life Assurance Society, formed in 1870, was the first native insurance provider. Other insurance companies established in the pre-independence era included

Bharat Insurance Company (1896) United India (1906) National Indian (1906) National Insurance (1906) Co-operative Assurance (1906) Hindustan Co-operatives (1907) Indian Mercantile General Assurance Swadeshi Life (later Bombay Life)

The first 150 years were marked mostly by turbulent economic conditions. It witnessed, India's First War of Independence, adverse effects of the World War I and World War II on the economy of India, and in between them the period of worldwide economic crises triggered by the Great depression. The first half of the 20th century also saw a heightened struggle for India's independence. The aggregate effect of these events led to a high rate of bankruptcies and liquidation of life insurance companies in India. This had adversely affected the faith of the general public in the utility of obtaining life cover. The Life Insurance Act and the Provident Fund Act were passed in 1912, providing the first regulatory mechanisms in the Life Insurance industry. The Indian Insurance Companies Act of 1928 authorized the government to
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obtain statistical information from companies operating in both life and nonlife insurance areas. The subsequent Insurance Act of 1938 brought stricter state control over an industry that had seen several financially unsound ventures fail. A bill was also introduced in the Legislative Assembly in 1944 to nationalize the insurance industry.

Past Chairmen Messrs. H.M.Patel, Gopalkrishnan, M.R.Yardi, M.R.Bhide, T.A.Pai, K.R.Puri, Jacob Mathen, J.R.Joshi, A.S.Gupta, R.Narayanan, N.K.Shinkar, M.G.Diwan, K.P.Narasimhan, N.N.Jambusaria, J.Salunkhe, N.M.Govardhan, G.Krishnamurthy, G.N.Bajpai, S.B.Mathur, R.N.Bharadwaj, Atul Shukla and Tai Salas Vijayan. Nationalization In 1955, parliamentarian Amol Barate raised the matter of insurance fraud by owners of private insurance companies. In the ensuing investigations, one of India's wealthiest businessmen, Ram Kishan Dalmia, owner of the Times of India newspaper, was sent to prison for two years. Eventually, the Parliament of India passed the Life Insurance of India Act on 1956-06-19, and the Life Insurance Corporation of India was created on 1956-09-01, by consolidating the life insurance business of 245 private life insurers and other entities offering life insurance services. Nationalization of the life insurance business in India was a result of the Industrial Policy Resolution of 1956, which had created a policy framework for extending state control over at least seventeen sectors of the economy, including the life insurance. Current status

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LIC building, at Connaught Place, New Delhi, designed by Charles Correa, 1986. Over its existence of around 50 years, Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses, and contributed around 7 % of India's GDP in 2006. The Corporation, which started its business with around 300 offices, 5.6 million policies and a corpus of INR 459 million (US$ 92 million as per the 1959 exchange rate of roughly Rs. 5 for a US $ [4], has grown to 25000 servicing around 350 million policies and a corpus of over 8 trillion (US$178.4 billion). Awards and Recognition The Economic Times Brand Equity Survey 2010 rated LIC as the No. 4 Service Brand of the Country. Though in the year 2010 is ranked at 4, the organization is consistently among the top rated service company of the India. From the year 2006, LIC is continuously winning the Readers' Digest Trusted brand award. According to The Brand Trust Report 2011, LIC is the 8th most trusted brand of India. Golden Jubilee Foundation LIC Golden Jubilee Foundation is started in 2006 as a charity organization. This entity have the aim of promoting education, alleviation of poverty, and better living conditions for the under privileged. Out of all the activities conducted by the organization, a Golden Jubilee Scholarship award is the most famous. Each year, this award is given to the meritorious students in of class XII equivalent who want to continue the studies and whose parental income is less than 60,000 Rupees.

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Interview Name: Vishnudas N. Chaudhari Age: 55 Years Qualification: B.com Experience: 20 Years In LIC Phone Number: 9820419283 E-Mail: V.chaudhari37@gmail.com Office Address: Branch 929, Bombay Mutual Terrace,1st Floor, 534 Sandhurst Bridge, Opera House, Mumbai - 400007. Website: Www.Licofindia.com Office Telephone Number: (022) 23691160.

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Step while advising the clients in insurance product:

(1) Profiling: Age, Income, Liquidity, Family Details, Specified goals, Risk taking ability, this is the information taken while profiling (2) Benefits of Insurance: Types Of Life Insurance Products (Term Assurance) Based on the benefit patterns the traditional Life Insurance products can be categorized into the following types: Term Insurance Whole Life Insurance Endowment Insurance Annuities Term Insurance Term Insurance provides for life insurance protection for the selected term (period of years) only. In case the person (whose life is insured) dies during the term, the benefits are payable under the policy and in case of his survival till the end of the selected term the policy normally expires without any benefit becoming payable. Term insurance may be regarded as temporary insurance and is more nearly comparable with "Property & Casualty insurance" contracts than the other forms of Life insurance contracts.

Whole of Life Assurance

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As the name suggests, the whole life insurance policies are intended to provide Life Insurance protection over one's lifetime. The essence of whole life insurance is that it provides for payment of the assured amount upon the insured's death regardless of when it occurs. Under these policies, the payment of the assured sum is a certainty in contrast to the term insurance contracts. Only the time of payment of the assured sum is an uncertainty. Whole life policies can be either participating type or non-participating type. Participating type policies are those which are entitled to a share in the distributable surplus (profits) of the Life Insurance company, whereby the cash value of the policy can go up, with the announcement of bonus / dividend. Non-participating policies have the same benefit throughout the life of the policy. There can be the following types of whole life policies: 1. Ordinary Whole Life Insurance 2. Limited Payment Whole Life Insurance 3. Convertible Whole Life Insurance

Endowment Assurance These are the most commonly sold policies. These policies assure that the benefits under the policy will be paid on the death of the life insured during the selected term or on his survival to the end of the term. Hence the assured benefits are payable either on the date of maturity or on death of the life insured, if earlier. Endowment policies assist in providing for the payment of a lump sum amount for a specific purpose, say, provision for retirement, meeting the needs of the child etc. The money required for the purpose will be built up whether the person is alive till that date or not. Like whole life insurance policies, endowment policies can also be of participating and nonparticipating types. Annuities:

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An annuity is a series of periodic payments. An annuity contract is an insurance policy, under which the annuity provider (insurer) agrees to pay the purchaser of annuity (annuitant)a series of regular periodical payments for a fixed period or during someone's life time. Classification of Annuities: Annuities can be classified on the basis of the number of lives covered Single Joint The beginning of the payment of annuity Immediate annuity Deferred annuity Method of premium payment Single premium Regular installment

Non Traditional Covers: Universal Life Insurance (ULI) is another non-traditional type of Life Insurance introduced in the United States in the year 1979, which had an adjustable face value (insurance coverage), floating interest rates based on market conditions and unbundling of savings and protection elements of Life Insurance. After paying an initial minimum premium, policy owners may thereafter pay whatever amount and at whatever times they wish, or even skip premium payments, provided the cash value will cover policy charges. Similarly they had the option to raise or reduce the face value of the Insurance policy. For increasing the insurance coverage proof of continued insurability was insisted. Under this type of policy (ULI), the policyholder pays an initial premium, which should not be less than a minimum for the given face value and the attained age of the Life to be insured. From this premium payment, the mortality charge for the first period and the expenses charges will be deducted and the balance will be the policy's cash value. To this cash value a certain interest (depending upon the rate of interest prevailing in the market) will be credited at the end of the period.
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(3) Proposal: Let as assume 100% Investment. If a 40 years investors come to investment in Insurance Product the following advice is given: (a) Retirement Plan: If a person is a government servant he may retire after the age of 58 years. According to his yearly income and risk factor. (b) Investment Advice: If the person age of 25 years then they will give long term policy taking consideration of his income and risk factors. (c) Child Carrier plan, Jeevan Kishor plan, Jeevan Chaya Plan: In Jeevan chaya plan, If parent expired the benefits is paid to the nominee, premium is stop. Before Maturity he gets 4 years maturity benefits (Tax benefits means the tax is not deducted of this amount).

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Bibliography
www.motilaloswal.com www.Licofindia.com www.wikipedia.com http://www.investopedia.com/articles/financialcareers/07/portfolio_manager. asp#ixzz1Uoqut0Ng

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