Indianivesh PMS shuts down - What should investors do?
The PMS had a size of ₹60 crore and 190 clients
The firm shut after critical staff was not able to reach office for carrying out its operations
IndiaNivesh, a financial services group with broking and PMS arms has announced the closure of its Portfolio Management Services (PMS). This is on account of the Covid 19 driven volatility, said a statement from the group. The PMS had a size of ₹60 crore and 190 clients. IndiaNivesh clients on the broking side have also faced delays in getting payouts. However, this is due to critical staff not being able to reach the office for carrying out the smooth operations, said the statement. IndiaNivesh also denied rumours of any association with corporate groups affecting its operations.