PMS -PROCESS MANUAL - Motilal Oswalmidoffice.motilaloswal.com/pms/Help/PMS Process Ma… · · 2017-01-12pms-process manual ver 1.5 motilal oswal amc ltd. page 2 table of contents

October

2013

Motilal Oswal

Asset

Management

Co. Ltd.

PMS-PROCESS MANUAL This Process Manual covers the operational guidelines of the PMS strategies, which are rolled out through

the Portfolio Management Services platform offered by Motilal Oswal Asset Management Company Limited

(MOAMC). These guidelines/ processes are subject to change from time to time; hence please ensure that the

latest version is referred to for relevant information.

Ver 1.5

PMS-PROCESS MANUAL VER 1.5

M o t i l a l O s w a l A M C L t d .

Page 2

TABLE OF CONTENTS

1. ACCOUNT OPENING PROCESS .................................................................................................................................................... 4

1.1. Account opening process ................................................................................................................................................... 4

1.2. Initial Corpus ......................................................................................................................................................................... 5

1.3. Banking.................................................................................................................................................................................... 5

1.4. Activation of account .......................................................................................................................................................... 6

1.5. Existing Client New account opening process ........................................................................................................... 7

1.6. Single Demat Account across all PMS strategies for same client ....................................................................... 7

1.7. Stock Inward Process.......................................................................................................................................................... 7

1.8. Demat Account Numbers for Stock Transfer: ............................................................................................................ 8

1.9. For Accounts with Part-Corpus and Part-Cash ......................................................................................................... 8

2. ACCEPTANCE OF PMS E-CORPUS THROUGH RTGS/ NEFT ............................................................................................ 9

3. TURN AROUND TIME FOR ACCOUNT OPENING .............................................................................................................. 10

3.1. TAT for account opening (cheque deposit) ............................................................................................................. 11

3.2. TAT for account opening (e-corpus transferred through RTGS / NEFT) ..................................................... 11

3.3. TAT for account opening (stock corpus) .................................................................................................................. 11

4. CLIENT REPORTS .......................................................................................................................................................................... 12

4.1. Reports .................................................................................................................................................................................. 12

4.2. Online Access to Reports ................................................................................................................................................. 12

5. DIVIDENDS/ CORPORATE ACTIONS ..................................................................................................................................... 13

6. REDEMPTION / SWITCH PROCESS ........................................................................................................................................ 13

6.1. Redemption Process ......................................................................................................................................................... 13

6.2. Change in Investment Strategy (Switch) Process.................................................................................................. 14

7. FILLING OF ACCOUNT OPENING FORMS ............................................................................................................................ 16

7.1. Common Instructions for filling in the account opening forms ....................................................................... 16

7.2. Important Instructions for Non-Individual Applicants ....................................................................................... 16

7.3. Signature Details in the PMS Form ............................................................................................................................ 16

7.4. Signature Details in DP Form ....................................................................................................................................... 17

8. PMS ACCOUNT OPENING: KYC DOCUMENTS CHECKLIST ........................................................................................... 18

8.1. Resident Individual ........................................................................................................................................................... 18

8.2. Non-Individuals ................................................................................................................................................................. 18

9. ANNEXURES .................................................................................................................................................................................... 21

9.1. Annexure - 1 - Contact Information ........................................................................................................................... 21

9.2. Annexure - 2 - Copy of CMS Slip ................................................................................................................................... 23

9.3. Annexure - 3 - Existing Strategies CMS Codes ........................................................................................................ 25



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This Process Manual covers the operational guidelines of the PMS strategies, which are rolled out through the

Portfolio Management Services platform offered by Motilal Oswal Asset Management Company Limited (MOAMC).

These guidelines/ processes are subject to change from time to time; hence please ensure that the latest version is

referred to for relevant information.

The PMS business has been transferred to MOAMC from MOSL w.e.f. 21st October 2010. The business was

transferred with a view to consolidate all the asset based business under one legal entity, MOAMC.

Account Opening

All PMS accounts will be opened under as below:

Custody - ISSL

PMS – MOAMC

Demat Account – MOSL

MOAMC PMS Agreement:

The investor needs to fill up and sign the MOAMC PMS agreement as indicated in the Application Form.

Power of Attorney:

The investor needs to fill up and sign the two Power of Attorneys (POA), one between MOAMC-PMS and the investor and

the other between IL&FS Securities Services Limited (ISSL) (The Custodian) and the investor.

Demat Account Opening:

The CDSL Demat account opening forms for Individuals and Non - individuals are separate; the investor needs to fill in the

relevant forms.

Cheque Copy/Stock Details:

Please note that cheques from clients will have to be taken in the name of Motilal Oswal Asset Management Company

Ltd. – PMS for all strategies. The strategy names will not be required to be mentioned on the cheques.

Initial Corpus:

Initial corpus less than Rs. 25 Lacs will not be accepted. Initial Corpus (even if it is part-corpus) below Rs. 25 Lacs

will not be accepted at all.



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1. ACCOUNT OPENING PROCESS

1.1. Account opening process

• Request for blank forms: - MOSL-Franchisees can put their requests for the AOF through WIRE software or send a mail to Gokul Nanda at

[email protected]

- Other Distributors can send their requests for blank forms to MOAMC –PMS – Sales Support team. Please refer to

Annexure 1 for the contact details of the team.

• Account Opening: - The client data should be entered in the Account Opening Tracker on the PMS section by the MOSL-franchisee.

- Other distributors to send the completely filled-up forms with the proofs to the AMC-PMS-Sales support teams.

- PMS Client code will be allocated to each client at the time of the data entry in the tracker.

- The PMS client code will have to be written on the forms before sending to Account Opening Department @ Malad

Palm Spring office.

- PMS and DP account opening forms have to be filled completely, to avoid objections, before sending the same.

DP AOF has to be filled has per CDSL guidelines and form should be objection-free in all respects.

- Cut-off time for receipt of forms at Malad – 5 pm on all working days.

- For opening of PMS account and DP account, separate set of proofs/ documents have to be provided. (The checklist

for the same has been given later in the document)

- All the supporting documents should be self attested by the client/s.

- Copies of supporting documents should be verified by the concerned franchisee/ RM / BDM by affixing a rubber

stamp of “VERIFIED AGAINST ORIGINAL”. Franchisee / RM / BDM has sign with their name, employee code and

designation (in case of MOAMC employee)

- The status of the form under processing will be available on the tracker - whether cleared or under objection.

Nature of objections will also be given on the tracker. Objections cases will be reported/ returned to concerned

franchisee / IFA / RM within 48 hours of receipt of forms.

- Once the DP and PMS forms are cleared, a message - “the cheque can be deposited” will flash in the tracker.

- Please note that the cheque has to be deposited only after the KYC is cleared, funds received before clearance of

KYC will not be activated till the KYC is cleared.

• Deviations in Fee Structure

- Deviations in fees structure will be accepted, only if done prior to client activation

- Any deviations in management fees/ performance fees/ exit loads, etc. will be have to be

approved only by Aashish Somaiyaa. - The fee structure has to be counter-signed by the clients - Client signatures should be taken wherever there are

deviations (even after taking approvals.)

- Deviation should be authenticated by Franchisee / IFA / Primary RM with their seal and signature

� For BAG/IFA/ND/BANKS/ REGIONAL DISTRIBUTOR’S clients and for clients mapped to the Retail channel

BO will not require any further approval from Nimesh / Aashish as they can decide the upfront fees chargeable

to the client. (Applicable only for deviations in upfront fees)

� For WM clients, BO will require the Nimesh / Aashish approval for the deviation in upfront fees also.

- Copy of the approvals should be attached to the original fee schedules accompanying the account opening

form (with necessary counter-signs)

V. Imp. - No deviations will be accepted without client’s counter-sign No reversals in fees/ loads will be done post activation under any circumstances



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1.2. Initial Corpus

Initial corpus less than Rs. 25 Lacs will not be accepted. Initial Corpus (even if it is part-corpus) below Rs. 25 Lacs

will not be accepted at all.

If there are any cases of receipt of Initial corpus below Rs.25 Lacs, the same will be returned back to the same account

immediately on T or T+1 day. Email intimation will be sent to the client and RM that the corpus is being returned back.

For stock transfer cases:

It will have to be ensured that both stocks and funds amounting to minimum Rs. 25 Lacs will have to be transferred on the

same day. The CMS slips and the execution date of the stock transfers should be of the same date and intimation will be

required to be sent to the PMS Operations team @ [email protected] with relevant scan copies

showing same date deposits/ execution dates.

1.3. Banking

A] Cheque Deposit

� The status of the form under processing will be available on the tracker. Once the DP and PMS forms are cleared, a

message saying “the cheque can be deposited” will flash in the tracker.

� Please note that the cheque has to be deposited only after the KYC is cleared, funds received before

clearance of KYC will not be activated till the KYC is cleared.

� Client will have to give cheque in the name of “Motilal Oswal Asset Management Company Limited – PMS” The

strategy names will not be required to be mentioned on the cheques. � Banking of cheques will be done through CMS (Cash Management Services)

� RM will have to ask for CMS pay-in slip at HDFC bank branch

� CMS code allotted to the strategy will have to be filled in the slip along with the PMS client code (a filled up CMS slip

has been given as Annexure 2 for your reference at the end of the document)

� List of existing strategies CMS codes is given in Annexure 3

� The copy of the cheque and the CMS slip should be uploaded on the PMS tracker. Please note that in case the

same are not uploaded, the account will not be activated.

� Cheques should not be sent along-with the PMS account opening form to the Account Opening Department @ Malad

Palm Spring office – The cheque has to be deposited at the client location only through CMS with HDFC Bank.

B] Fund Transfer

Clients can remit the funds; Either through the net banking platform of the clients bank for RTGS/NEFT payment or;

� By giving the request over the counter of his / her bank branch for RTGS/NEFT payment

The detailed process for Fund transfer is given below under point 2

1.4. Process for accepting Top-ups from existing clients



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� The client details should be entered in the Account Opening Tracker on the PMS section under the top-up option by

the MOSL-franchisee.

� Other distributors to send the details to the AMC-PMS-Sales support teams.

� Banking of cheques has to be done through CMS (Cash Management Services) as explained above.

� The copy of the cheque and the CMS slip should be uploaded on the PMS tracker. Please note that in case the

same are not uploaded, the top-up funds will not be activated.

� A client can give any amount as a Top Up in any of his strategy account, if his Client level minimum corpus size is

maintained as Rs.25 lakhs. If the Client level minimum corpus size is not upto Rs. 25 lakhs, then the client has to first

reach upto the Rs.25 lakh minimum requirement by providing the balance amount

Note: Client level means same client with same holder combination only. Same client with different holder

combination will be treated as a separate client.

1.5. Process for accepting Top-ups from existing clients under NTDOP Strategy

� Old clients (activated in 2007/2008) will have to sign the MOAMC - PMS Fixed Fee schedule/ MOAMC - PMS

Variable Fee Schedule (available on the PMS account opening tracker) and submit along with top-up.

� Top-ups without fee schedule will not be inwarded in the PMS account.

� The CMS slip, cheque copy and the fee annexure will have to be uploaded on the PMS account opening tracker.

� New fee structure will be mapped to the client w.e.f. the date of inward of the top-up amount.

� All terms and conditions of the new fee schedule will become applicable.

� If the client is moving from fixed option to variable option – the High Watermark will be reset to the date prior to the

top-up.

� If the client is already under NTDOP Variable option and is now giving Common-Variable structure the High

Watermark will not be reset to current AUM figure.

� Upfront fees can be charged to the clients, which will be collected for each top-up. 100% upfront will be paid out to

the RM’s/ Channels/ Distributors. The trail will be paid as per the earlier NTDOP sharing slabs only.

� New clients (activated in 2010/ 2011) need not give any fee structure for top-ups.

1.6. Activation of account

� PMS Account will be activated on:

− the same day the CMS confirmation mail from HDFC bank is received by the PMS operations, in case of cheque

deposit.

− the same day as the funds transfer in the MOAMC strategy bank account, in case of fund transfer before 4 pm

and the next working day, in case of fund transfer after 4 pm

� Copy of the cheque and CMS slip will have to be scanned and uploaded on the PMS tracker or mailed to the PMS sales

support team/ PMS operations on the date of cheque deposit; and transaction number has to be informed to

operations on date of RTGS/NEFT. In the absence of scanned copy of cheque / CMS slip, PMS account will not be

activated even if funds are credited into MOAMC bank accounts.

� Welcome letter will be sent to client within 24 hours of account activation through courier, which will have the

following details :

− Client information - client code, address, complete contact details

− Investment - corpus amount, strategy, fees structure, etc.

− The client is required to check all the details mentioned in the welcome letter and changes, if any, in

should be reported back to MOAMC-PMS within 7 days.



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1.7. Existing Client New account opening process

� Existing Customer: Customer who is an Existing Customer under any PMS strategy - needs to fill in the documents as

given below for opening another PMS account in another strategy.

� The hard copies of the documents are also required to be provided.

� The client needs to clearly specify the strategy to which he wants to invest.

� The data and the forms as given below need to be uploaded on the PMS tracker.

The following documents will be required to be given for opening a PMS account in a new strategy by an existing

client:-

� One pager Existing client sign-up form (Revised as on 30th Oct 2010)

� Profiler for new strategy

� Fee Schedule for new strategy

The existing DP account as explained below will be mapped to the new strategy and new PMS code will be generated

for the new strategy.

1.8. Single Demat Account across all PMS strategies for same client

Strategy-wise demat accounts will not be opened for the same client investing in multiple strategies. Existing demat

account* (subject to terms and conditions given below) will be used for all future investments. Once the Demat account for

any client is opened, the same can be used across multiple strategies. For example – Existing Value client wants to invest in

Invest India Strategy or any other strategy then a new demat account will not be required to be opened.

The client will be given the option to map existing demat account or open a new demat account for a new strategy.

* The following terms and conditions will be applicable for using existing demat account

� The holding pattern of investments in the new strategy will be as per the existing investment’s holding pattern.

� No change /addition or deletion of names will be allowed in the pattern of investments.

� If there is any change / addition/ deletion in the holding pattern of the investments, the clients will need to resubmit

a fresh application with all the supporting documents.

� Signature of all the holders of the PMS account will be required.

� Application will not be accepted/ processed unless accompanied with duly signed fresh fee annexure.

� The Bank and Demat account details mentioned herein shall be only with respect to acceptance of corpus in this case.

1.9. Stock Inward Process

Clients can also transfer stocks as initial or additional corpus for opening a PMS account. The process for the same is

given below:

� The clients demat account details along with DP proof need to be provided in the AOF itself

� Once the KYC is cleared, the client can send the demat account details to the PMS team.

� The details are mapped to the client’s PMS code and stocks from the mapped Demat Accounts only can be

transferred

� The stock transfer is done through the web-based online stock transfer module for which the Relationship Managers

are provided with a login id and password to enter transfer instructions

� Intimation via email need to be sent to the operations team of the date of stock transfer along with the client name

and code. The receipt instructions for the stock cannot be given by operations to the DP department if prior

intimation is not done

� Entries can only be done for clients mapped to the login id of the Relationship manager



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� Stocks should be entered in the stock transfer module one day before the execution date or before 12pm on the

execution date.

� The Execution Date has to be the same as mentioned in the Delivery Instruction Slip

� The details as below will be required to be filled in by the RM pertaining to the stocks to be transferred:

− Client Name

− Security Name

− Quantity

− Broker Name

− DP Type (NSDL/CDSL)

− DP ID

− Broker/ DP Name (i.e. Motilal Oswal Securities Ltd.) DP Type (NSDL/CDSL),

− Execution date as mentioned by the client on the Delivery Instruction book

� Non-equity securities like debentures and Non-tradable stocks, if transferred will be returned back to the same DP

account from where it was received

� The Stock Received Status can be checked on the web module

� Very Important: the physical DP slips with delivery instructions need to be submitted on the execution date to the

clients respective DP. Copy of the same need to be uploaded on the module.

1.10. Demat Account Numbers for Stock Transfer:

� There are no strategy-specific demat accounts, the stocks for all strategies have to be transferred to the below pool

demat accounts.

DP Type DP ID Client ID DP Name

NSDL IN301862 10003617 Motilal Oswal Securities Ltd

CDSL 12010900 1201090004306959 Motilal Oswal Securities Ltd

1.11. For Accounts with Part-Corpus and Part-Cash

� The AOF should have the details of the stocks and cheque/fund transfer (both totaling to the minimum corpus

requirement) in case the client is requesting for part-stock and part-cash corpus.

� Rough valuation of the stocks will have to be done by the RM’s.

� In order to prevent a shortfall in the minimum corpus requirement, after the selling of the stocks transferred, due to

market movements, the cheque should be of an amount in excess by Rs. 25,000 over the valuation of the stocks.

Eg: if the stocks are valued at Rs. 10 L, the amount of the cheque should be Rs. 15 L + Rs. 25,000 = Rs. 15.25L

� The cheque/fund transfer should be deposited/ effected on the same day of the stock transfer.



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2. ACCEPTANCE OF PMS E-CORPUS THROUGH RTGS/ NEFT

RTGS fund transfer (Minimum transaction value - Rs. 2 Lac)

NEFT fund transfer (for amounts below Rs. 2 Lac)

Where Clients do not have their bank A/c’s with HDFC Bank

Clients can remit the funds;

� Either through the net banking platform of the clients bank for RTGS/NEFT payment or;

� By giving the request over the counter of his / her bank branch for RTGS/NEFT payment

The process for the same is as below:

� The account number in which the corpus has to be transferred is a combination of the strategy CMS code and the PMS

client code. For example:-

Strategy Name CMS code PMS Client code Account Code for Fund Transfer

Value HDFCINPMSVAL PMS2034 HDFCINPMSVALPMS2034

Discover Value HDFCINDISVAL PMD2000 HDFCINDISVALPMD2000

Discover Dynamic HDFCINDISDYN PMDD2001 HDFCINDISDYNPMDD2001

Bulls Eye HDFCINPMTBUL PMT2010 HDFCINPMTBULPMT2010

Optima HDFCINPMSOPT PMOP901 HDFCINPMSOPTPMOP901

Liquid HDFCINPMSLIQ PMSL800 HDFCINPMSLIQPMSL800

Invest India HDFCINPMSFPT PMIS2034 HDFCINPMSFPTPMIS2034

NTDOP HDFCINPMSNTD NTD3456 HDFCINPMSNTDNTD3456

Focused 4 HDFCINPMSFPO PMFO4451 HDFCINPMSFPOPMFO4451

Focused 5 HDFCINPMSFPF PMSF2000 HDFCINPMSFPFPMSF2000

� The clients will fill in the account number as per the examples above for doing RTGS / NEFT

� Please note that the above account numbers are unique and transactions cannot be done through Net Banking. The

clients have to fill in physical RTGS/ NEFT forms for the same.

� MOAMC details that will be required to be mentioned on the RTGS / NEFT request are given below

Beneficiary Name Motilal Oswal Asset Management Company Limited (Strategy Name)

Credit Account No. HDFCINPMSVALPMS2034 (account code as per example mentioned above – If this code is

wrong, RTGS / NEFT will be rejected)

Centre (Location) MUMBAI

Bank HDFC Bank

Branch Fort, Mumbai

Account Type Current Account

IFSC Code HDFC0000060

� After fund transfer through RTGS / NEFT, Transaction number has to be informed to Back office for checking with HDFC

Bank (in case of non credit, this will require)

� Activation of the PMS account will be done on T+0 or T+1 as per the below scenarios.

Scenario 1 –



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� For funds transfer through RTGS/ NEFT, If the funds are credited in the MOAMC strategy bank account before 4 pm ,

the PMS account will be activated on same day EOD (T+0),

� Investments will be done on next working day of activation (T+1)

Scenario 2 –

� For funds transfer through RTGS/ NEFT, If the funds are credited in the MOAMC strategy bank account after 4 pm,

the PMS account will be activated on next working day (T+1),

� Investments will be done on next working day of activation (T+2)

Where Clients have A/c’s with HDFC Bank:

Client can do online investment in Value Strategy PMS from his HDFC Bank resident savings account. The process for the

same is as below:

� The client has to activate third party transfer in his HDFC Bank net banking. (If he has already activated the third

party transfer, then no need of reactivation)

� The Client has to add the a/c number as a beneficiary. The account no. has to be selected as per strategy as

mentioned in the chart below.

� Do online transfer – min amount of transfer is INR 1 Lac

� Email the screenshot with the reference number to Back office for checking with HDFC Bank (in case of non

credit, this will require)

� Amount will be inwarded in clients account as per scenario mentioned above

Scheme Name MOAMC A/c

Motilal Oswal Asset Management Company Limited - Bulls Eye 00600340030159

Motilal Oswal Asset Management Company Limited - Discover Dynamic 00600340030176

Motilal Oswal Asset Management Company Limited - Discover Value 00600340030169

Motilal Oswal Asset Management Company Limited - Focused 4 00600340053491

Motilal Oswal Asset Management Company Limited - Focused 5 00600340050183

Motilal Oswal Asset Management Company Limited - Invest India 00600340050183

Motilal Oswal Asset Management Company Limited - Liquid 00600340045894

Motilal Oswal Asset Management Company Limited - Ntdop 00600340035558

Motilal Oswal Asset Management Company Limited - Optima 00600340045902

Motilal Oswal Asset Management Company Limited - Value Pms 00600340030186

Important Instructions

� Funds should be transferred from the same bank account for which the bank proof has been provided during the

PMS account opening.

� In case funds are transferred from a different bank account and there is a mismatch, funds will not be accepted and

will be refunded back to the client in the same bank account from where funds have been transferred

Benefits

� Faster clearing of funds

� No need of deposit of cheques

� No need of sending scan copy of Cheque / CMS slip

� Hassle free process

� Online verification of source bank details with PMS (provided by client)

� Faster investments

� Improved Tracking of funds under electronic channel



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3. TURN AROUND TIME FOR ACCOUNT OPENING

3.1. TAT for account opening (cheque deposit)

� Receipt of completely filled forms upto 5 PM (T)

� Revert on objections, if any (T+1)

� Cheque deposit (T+2)

� Clear Funds (T+4)

� Account Activation (T+5)

� Investments (T+6)

� Welcome letter dispatch (T+7)

� Pin Mailer dispatch through post (T+8)

3.2. TAT for account opening (e-corpus transferred through RTGS / NEFT)



� Fund Transfer through RTGS / NEFT (T+2)

� Clear Funds (T+2)





3.3. TAT for account opening (stock corpus)



� Stock Transfer (T+2)


� Selling of Stock (if required) (T+4)






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4. CLIENT REPORTS

4.1. Reports

As a part of our service offering and in an endeavour to provide complete transparency of the dealings in the clients PMS

account, the following reports are emailed to the clients to their registered email id/ mailed to the correspondence address,

which will enable the clients to track their portfolios. The reports are emailed on every month-end and quarter-end basis

before the 10th of the next month.

� Account Performance Statement

� Holding Statement

� Transaction Statement

� Capital Movement Statement

� Corporate Action Statement

� Debit Note

� Client Information

� Taxable Gain/Loss statement

� The email id has to be filled mandatorily in the AOF.

� Hard copy of the Account statement will be sent to the end-clients every six months.

� Audited reports certified by a CA will be sent to all clients annually after March-yearend audit is completed.

4.2. Online Access to Reports

The client and RM both are provided with a login id and password which will enable 24*7 access to the details of the

client’s investments on click of a button. The RM has to send a request to the query desk for a login id and the list of the

clients that need to be mapped to his login.

The Account Performance Report is updated with the previous day’s closing valuation, at the end of each day. Holding

Statement and Transaction statement are available with a 7-day lag and all other reports are available as of last working

day.

Now, client can view all their holdings, investments (Equity, PMS, Derivatives, Mutual Funds etc.) and research reports,

through a unified platform called “My Motilal Oswal” by heading to www.my.motilaloswal.com and logging in with Unique

Customer Identification Number (UCID)”.

To get UCID, client has to logon to http://bit.ly/getucid. He will be asked to share his PAN, Date of Birth and Email id

registered in our records. UCID and Password to access “My Motilal Oswal” will be emailed to clients registered e-mail id

soon after.

Steps for using the web access:-

Step 1 : Type the url: http://www.motilaloswal.com/ in the command line of your internet browser

Step 2 : Click on “My Motilal Oswal” button on the top right corner

Step 3 : Enter UCID (provided in the letter) and password in Enter Login & Enter Password field respectively.

Step 4 : On 1st login, you will be prompt to change the password.

Step 5 : Enter Old Password

Step 6 : Enter New Password

Step 7 : Confirm New Password

Step 8 : Click Submit

Step 9 : An email confirming the change in password will be sent to your registered email id

Step 10 :Your reports will be available in “PMS” widget.



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5. DIVIDENDS/ CORPORATE ACTIONS

As per DP regulations, the bank details provided by the client will be mapped to the clients demat account opened with

MOSL for the purpose of holding all the stocks bought as per the PMS investments.

All dividends/ corporate actions/ funds on maturity of bonds/ structured products (if any) received on the investments in

the PMS strategy, will be credited directly to this bank account.

As per the Portfolio Investment Management Agreement, any outflow of Assets whether dividend or otherwise will be

treated as Withdrawal of Assets and the relevant provisions of the agreement shall apply to all such withdrawals.

Important terms and conditions:

� The dividends will be credited as and when the dividends are paid, by the companies, which form part of the

holdings in the PMS account with us, as on the respective record dates for those companies.

� The withdrawal of dividend amounts shall be processed till the termination of the Portfolio Investment

Management Agreement.

� Receipt of the dividends will have to be tracked by the client only.

� Non-receipt, if any, needs to be reported to MOAMC within 3 months from the date of declaration of dividend by

the company.

� Relevant statements will be provided by MOAMC periodically for the purpose of reconciliation.

6. REDEMPTION / SWITCH PROCESS

6.1. Redemption Process

� The client can give a full redemption or part redemption.

� The signed and completely filled formats can be scanned and emailed/ faxed to the dealing desk and the hard copies

of the documents are also required to be provided.

� The request will not be accepted in case all the details are not completely filled up, incomplete forms will be

rejected.

� The client needs to provide the bank a/c details on the redemption request and a bank proof (cancelled cheque leaf

and/ or passbook copy or bank statement) supporting the same to facilitate electronic fund transfer to his / her bank

account.

� The client can give a stock transfer/stock selling request. In case of stock transfer the client needs to provide the

Demat a/c details on the redemption request and the Demat Proof (Client Master Copy/ Demat holding statement)

supporting the same.

� The redemption is processed on the next day of the receipt of the request (T) after signature verification by the back

office.

� The request will not be processed in case there is a difference in the signatures.

� The payout of funds/ stock is done on T+4

� The entire redemption process takes 5 working days.

� Redemption payment will be made through electronic fund transfer i.e. RTGS / NEFT / Fund Transfer only

� The redemption amount paid will be net of all charges including management fees/ performance fees/ exit load (if

applicable)

Full Redemption:

� The Redemption Request, Notice of Termination and Demat a/c closure form in the prescribed formats are required

to be signed by all the holders of the PMS a/c.



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Part Redemption:

� A duly signed redemption request form is required. The part redemption amount is mandatory to be filled in the

form.

� The value of the portfolio cannot fall below Rs. 25 Lakhs at any point of time; hence part redemption request can be

accepted for an amount above Rs 25 lakhs only.

� As per our internal guidelines, the minimum part redemption amount is Rs. 1 lakh.

� The redemption proceeds will be paid proportionately by selling stock and available cash.

� The Minimum amount to be maintained is 25 lacs in each account. For cases where it is below 25 lacs, they will not

be able to do partial redemption. They can only do full redemption

Note: If the client redeems any one of his strategy account partially or fully and if the total corpus/aum

size of the client falls below the minimum requirement of 25 lakhs (all strategies put together), then all

the strategy accounts of that client will have to be redeemed compulsorily. Therefore the Relationship

Manager has to check all the accounts of the client for the 25 lakhs requirement, at the time of

redemption request from that client and get the required no. of redemption request forms signed.

Separate redemption request is required for each strategy account.

6.2. Change in Investment Strategy (Switch) Process

� The client can give a full switch or part switch request

� Documents required are:

i. Request for Change in Investment Strategy

ii. Latest Fee schedule

iii. Demat account opening form (if the client doesn’t want to open a single demat account across strategies –

refer section 1 above)

iv. Client Profiler

� The signed and completely filled formats can be scanned and emailed/ faxed to the dealing desk and the hard

copies of the documents are also required to be provided.

� The request will not be accepted in case the same all the details are not completely filled up; incomplete

forms will be rejected.

� The client needs to clearly specify the strategy to which he wants to switch.

� The switch can be from an Equity Strategy to another Equity Strategy or from an Equity Strategy to Liquid Strategy

or vice-versa.

Partial Switch:

� The part switch amount is mandatory to be filled in the change in investment strategy form.

� The switch is processed proportionately by selling stock and available cash.

� Stocks that are common between both strategies will be switched after taking into consideration the required

weightages in the new strategy.

Switch from Equity Strategy

� The switch request is processed on the next day of the receipt of the request (T) after duly signature verification by

the back office.

� Selling will be done in the existing strategy and the funds will be switched to the new strategy.



Page 15

� Stocks that are common between both strategies will be switched after taking into consideration the required

weightages in the new strategy.

� the client will have to open a separate Demat account for every strategy

� The switch of funds and/or stock is done on T+4

� The entire switch process takes 5 working days.

Switch to Liquid Strategy

� The switch request is processed on the next day of the receipt of the request (T) after due sign verification by the

back office.

� The switch of funds is done on T+4.

� In case of switch to Liquid Strategy, separate Demat account need not be opened.

� The switch process takes 5 working days.

Switch from Liquid Strategy

� The switch request is processed on the next day of the receipt of the request (T) after due sign verification by the

back office.

� The funds are redeemed from the Liquid Mutual fund scheme (T+1)

� The switch of funds is done on T+2

� The switch process takes 3 working days.

Note: A client can switch his account between 2 strategies, if his minimum total corpus size at Client

level is maintained as Rs.25 lakhs. Client level means same client with same holder combination only.

Same client with different holder combination will be treated as a separate client.



Page 16

FILLING OF ACCOUNT OPENING FORMS

7.1. Common Instructions for filling in the account opening forms

� Read the form carefully and in case of any queries contact the concerned officials of MOAMC-PMS (contact details

given in Annexure I)

� All the details in the form have to be filled up. In case any of the columns are not applicable, mention N.A. in that

column.

� PMS and DP account opening forms have to be filled completely, to avoid objections, before sending the same.

� Signatures can be in English or Hindi. Signatures other than in the above mentioned languages and thumb

impressions must be attested by a Magistrate or a Notary Public or a Special Executive / Magistrate under his / her

official seal.

� Details of the Names, Address and Tel. No. etc. of the Magistrate / Notary Public / Special Executive Magistrate are to

be provided in case of any attestation done by them.

� All proofs of identity should be certified as true. The originals have to be verified at the time of account opening by

the introducing Relationship Manager.

� In case of Additional Information, separate Annexure should be attached to the Form.

� Agreement has to be executed within 6 months of the date of stamp paper/franking date done in Mumbai on the ISSL

Power of Attorney, PMS Agreement & PMS POA. For franking done in Chennai on the DP Agreement, there is no

validity period (if franking is done after 01.04.2009).

Client profilers and Latest Fees schedule need to be attached with the AOF. � Strategy name has to selected

� Fee option has to be ticked

� All the account holders are required to sign the documents.

7.2. Important Instructions for Non-Individual Applicants

� Please note that all Annexure formats including board resolutions, list of authorized signatory, list of directors,

holding pattern and declarations given in the PMS form are different from the Annexure formats given in the DP

form. Both formats are required to be submitted.

7.3. Signature Details in the PMS Form

For Individual Clients – All joint holders are required to sign on all the pages as mentioned below.

For Non-Individual Clients – Relevant Rubber Stamp is mandatory along with the Signature’s.

� Page No.5 –

� Full Signatures in the Signature Box.

� Full Signatures across the Photographs.

� Full Signatures under Nomination Details

� Page No.6 to Page No.14 (PMS Agreement) – Full Signatures/ Initials in the Signature Box.

� Page No.15 and Page No.16 (Power of Attorney)- Full Signatures in the Signature Box.

� Page No.17 (ISSL POA)

� 7 Initials in the Margin.

� Full Signatures next to the DP box

� Full Signatures in the Signature Box at the bottom of the page

� Page No.18

� 1 Initial in the Margin



Page 17

� Full Signatures in the Signature Box at the middle of the page.

� Full Signatures in the Signature Box at the bottom of the page.

� Full Signatures (for individuals) in the annexures as applicable.

� Annexure 6 – Page 21





� Full Signatures with relevant stamp (for non-individuals) in the annexures as applicable.

� Annexure 1 – 5 – Pages 19 – 21

� Annexure 7 – 10 – Pages 22 – 25

� Latest Fees Schedule – Full Signatures at the bottom of the page.

� Latest Profilers – Full Signatures at the bottom of the page.

7.4. Signature Details in DP Form

Individual DP Form – � Signature Card – Full Signatures

� Pg. 4

� Full Signatures in the Signature Box

� Full Signatures across the Photograph

� Pg. 5 - Full Signatures in the Signature Box

� Pg. 6 - Full Signatures in the Signature Box

Non-Individual DP Form – Relevant Rubber Stamp to be affixed along with the Signature’s. � Signature Card – Full Signatures with relevant stamp

� Pg. 6

� Full Signatures with relevant stamp in the Signature Box

� Full Signatures with relevant stamp across Photographs

� Pg. 7 - Full Signature with relevant stamp in the Signature Box

- Please provide the below Annexure’s given in the DP account opening form checklist for non-individuals)

� Annexure 1 – Declaration to be given by Partnership

� Annexure 2 – Declaration by Karta

� Annexure 3 – Board Resolution to be passed by Corporate/ Society/ Trust



Page 18

7. PMS ACCOUNT OPENING: KYC DOCUMENTS CHECKLIST

8.1. Resident Individual

General: � Account Opening Form shall be duly completed and signed. ‘N.A.’ shall be mentioned in the columns not applicable to

the client.

� Photograph shall be pasted in the space provided. Photograph shall have the signature across it in such a manner

where part of the signature is on the photo and the other part on the form.

� PMS agreement duly signed by the client and the authorized signatory of MOAMC on the stamp paper / duly franked.

� Signatures by all the joint holders on all pages of the agreement / power of attorney / form / annexure wherever

indicated.

� The total number of signatures required in the PMS Form - For Resident Individuals – 19 (Excluding the Latest

Fees Schedule), For Non Individuals – 22 (Excluding the Latest Fees Schedule). The details of these signatures are

given above.

� Total Signatures in the DP Form – For Resident Individual Form – 04, For Non Individual Form – 04.

� Proof of Identity of all the applicants (only PAN)

� Copy of PAN Card.

� Cheque in favour of "Motilal Oswal Asset Management Company Ltd. – PMS"

� Power of Attorney in favour of Motilal Oswal Securities Ltd. (as per the given format) duly stamped / franked, duly

signed and notarized.

� Power of Attorney in favour of ISSL (as per the given format) duly stamped / franked, duly signed and notarized.

� All proofs should be certified as true / verified by a Chartered Accountant or any competent authority that is

authorised to do the same OR client is required to present the original documents for verification which will

be returned after duly being verified by respective Relationship Manager / Branch Manager.

� All proofs have to be self-attested by the client.

� Photograph of the applicant(s).

Proof of Identity: (Photocopy)

� PAN Card

Proof of Address: (Photocopy of any one of the following)

� Valid Passport

� Valid Driving License

� Ration Card

� Telephone Bill ( not more than two months old, Mobile bills are not accepted )

� Voter ID

� Bank Passbook

� Electricity Bill (not more than two months old)

� In case the client has submitted Driving License or Passport as Proof of Address, kindly ensure that the

date of its validity has not expired.

Bank Proof: � Bank Passbook / Original bank statement (not more than two months old)

� Cancelled cheque (with account holder name printed on it)

8.2. Non-Individuals



Page 19

Please note that all Annexure formats including board resolutions and declarations given in the PMS form are different

from the Annexure formats given in the DP form. Both formats are required to be submitted.

SOLE PROPRIETORSHIP FIRM � Proof of Identity of all the applicants (only PAN)

� Proof of Address of Sole Proprietor

� Declaration of the Sole Proprietor as per Annexure 2

� Photograph of the sole proprietor

HINDU UNDIVIDED FAMILY (HUF) � PAN Copy of HUF and Karta

� Proof of Address of the Karta

� Photograph of the Karta

� Details of Karta as per Annexure 1

� Declaration giving details of the family members of the HUF with their names, date of birth and relationship with the

Karta along with signature of Karta and all the co-parceners and member the declaration as per Annexure 5

� Birth certificate in case of minor members

� HUF rubber stamp to be affixed in appropriate places. Karta to sign the Form under Stamp of HUF.

� The ISSL Power of Attorney should be signed by the Karta and all the coparceners of the HUF.

PARTNERSHIP FIRM � 1 copy of the Partnership deed duly certified as true by the Managing Partner

� 1 certified true copy of the registration certificate from the Registrar of Firms

� Partnership Deed should contain a clause permitting the partners to invest the moneys of the firm in securities

� PAN Card copy of the Partnership Firm and all the Partners

� Proof of Address of the firm and all the Partners

� Details of all Partners as per Annexure 1 along with the photographs

� List of Partners on the letterhead of the firm

� 1 copy of the letter of authority signed by all the partners as per Annexure 3

CORPORATE (Please use non-individual form) � 1 Certified true copy of the Memorandum and Articles of Association along with Certificate of Incorporation duly

certified by Company Secretary / Whole time Director / Managing Director of the Company

� Object clause in the Memorandum of Association should permit the company to invest in securities

� 1 Certified true copy of the Board resolution as per the format in Annexure 4

� PAN Card copy of the Company and Whole time Director and Authorised Signatory

� Copy of the last 2 years balance sheet. The set should include the P&L account, the Auditors Report and the Networth

Certificate. (Please note that each time the funds are added to the portfolio, latest details have to be provided, if not

provided earlier)

� Photographs of the authorised signatories / whole-time directors

� Proof of Address of the Company (Form 18 filed with ROC), whole-time Directors and Authorised Signatories.

� Details of Whole-time Directors / Authorised Signatories as per Annexure 1

� List of authorised signatories / all the directors on the letter head of the Company, duly certified by the Company

Secretary / Managing Director / Whole-time Director

� Declaration from Corporate / Society / Trust in Annexure 8

TRUST

� 1 Certified true copy of the Registered Trust Deed



Page 20

� The Trust Deed should contain a clause that the Trust can invest its funds in securities.

� 1 Certified true copy of the registration certificate (In case not available, the trust deed should be stamped with the

seal of the Registering Authority under the Public Trusts Act or Societies Registration Act)

� List of members on the Board of Trustees on the letter head of the Trust duly certified by the Managing Trustee

� 1 Certified true copy of the Board resolution as per the format in Annexure 4

� PAN Copy of the Trust

� Copy of the last 2 years balance sheet. The set should include the P&L account, the Auditors Report and the Networth

Certificate. (Please note that each time the funds are added to the portfolio, latest details have to be provided, if not

provided earlier)

� Details of all the Trustees and Authorised Signatories as per Annexure 1 along with the photographs

� Proof of Identity of all the Trustees, beneficiaries (only in case of private trusts) and authorised signatories

� Proof of address of all the Trustees, beneficiaries (only in case of private trusts) and authorized signatories

� Declaration from Corporate / Society / Trust in Annexure 8



Page 21

8. ANNEXURES

9.1. Annexure - 1 - Contact Information

Malad Office Address (for sending PMS and DP AOF)

Account Opening Department,

Palm Spring Centre, 2nd Floor, New Link Road,

Malad (West), Mumbai - 400064

Board: +91-22-3080 1000 / 01

� MOAMC-PMS Operations:

For any queries regarding PMS Operations, kindly write to us at

[email protected] or call on 022-39804238 (Monday to Friday – 9.00

a.m. to 5.30 p.m.)

TAT for resolution of queries is 9 hours.

In case the same is not resolved or satisfactory reply is not received, pls escalate the query to the

following:

1st Escalation to be marked to:- Ms. Deepali Rane

E-mail ID – [email protected]

In case the same is not resolved or satisfactory reply is not received within 24 hours of escalation, pls

further escalate the query to the following:

2nd Escalation to be marked to:- Mr. Rajesh Patil

E-mail ID - [email protected]

In case the same is not resolved or satisfactory reply is not received within 24 hours, pls further

escalate the query to the following:

Final Escalation to be marked to:- Mr. Sudhindra Desai

Email id: [email protected]

� Administration (Request for PMS and DP AOF)

Mr. Gokul Nanda

Direct No. - DID: 022 30896727

Email ID: [email protected]

� MOAMC - PMS – Dealing: (For Redemptions and Switch)

Mr. Jayant Shelke


Mr. Jayesh D Patel




Page 22

� MOAMC - PMS – Sales Support Team:

Name Location Contact Details Email ID

Ruchit H Shah Ahmedabad 079-30078118 [email protected]

Smitha D Kanguri Bangalore 080-67133465 [email protected]

Swapna Satpute Mumbai 022-39804369 [email protected]

Pradnya Mahadeshwar Mumbai 022-39804281 [email protected]

Shital Wagle Pune 020-30273064 [email protected]

Kumar Jha Delhi 011-43671884 [email protected]

Pritam Choudhary Kolkata 033-3027 4878 [email protected]



Page 23

MOAMC - PMS – Sales Team:

Name Designation Location Mobile Mail Id

Akhil Chaturvedi Sr. Vice President & Head

Sales & Distribtion Mumbai 9820809937 [email protected]

Dhananjay Mehta Vice President & Head -

Retail Distribution Channels Mumbai 9920313699 [email protected]

Praveen Ladia Vice President & Head -

Wholesale Distribution Mumbai 8879019062 [email protected]

Sharika Kher Associate Vice President Mumbai 9820029939 [email protected]

Abhishek

Agrawal Senior Manager Mumbai 8879172925 [email protected]

Parth Dani Sr. Manager Mumbai 9820944265 [email protected]

Piyush Chandra Sr. Manager Mumbai 9320049123 [email protected]

Rajiv Bandaria Manager Mumbai 8879676121 [email protected]

Vikas Agrawal Associate Vice President Pune 9881156123 [email protected]

Dhaval Barot Associate Vice President Ahmedabad 8238075900 [email protected]

Sanjay B Patel Relationship Manager Surat 9913185086 [email protected]

Kshitiz Mahajan Associate Vice President Delhi 9711303838 [email protected]

Suyash Joshi Manager Delhi 9999025348 [email protected]

Vaibhav Maskara Sr. Manager Delhi 9999998093 [email protected]

Harbir Singh Sr. Manager Punjab 9878793800 [email protected]

Vikas Kumar Sr. Manager Jaipur 8860277422 [email protected]

Romit Barat Associate Vice President Kolkata 9830226726 [email protected]

Rakesh K Associate Vice President Chennai 9884010334 [email protected]

Ashwin D'Souza Associate Vice President Bangalore 9980141445 [email protected]

Shailesh Kumar

Agrawal Associate Vice President Hyderabad 9603118000 [email protected]



Page 24

Annexure - 2 - Copy of CMS Slip

Strategy CMS

Code

Client PMS

Code


9.2. Annexure - 3 - Existing Strategies CMS Codes

Sr.No.

1 Bulls Eye

2 Discover Dynamic

3 Discover Value

4 Focused Strategy

5 Focused Strategy

6 Invest India Strategy

7 Liquid Strategy

8 Next Trillion Dollar Opportunity

9 Optima Strategy

10 Value PMS

VER 1.5

M o t i l a l O s w a l A M C L t d

Existing Strategies CMS Codes

Strategy Name CMS Code

PMTBUL

Discover Dynamic DISDYN

DISVAL

Focused Strategy - Series IV PMSFPO

Focused Strategy - Series V PMSFPF

Invest India Strategy PMSFPT

PMSLIQ

Next Trillion Dollar Opportunity PMSNTD

PMSOPT

PMSVAL

*******

C L t d . Page 25

CMS Code

PMTBUL

DISDYN

DISVAL

PMSFPO

PMSFPF

PMSFPT

PMSLIQ

PMSNTD

PMSOPT

PMSVAL