Portfolio management scheme popularly known as PMS are specialized investment vehicle for lump sum investments. The portfolio manager manages the portfolio on behalf of the client by investing the money in shares and other securities.

You can invest fresh money in Portfolio Management Scheme and the portfolio manager will build a portfolio by deploying that money. Also you can transfer your existing share portfolio to the Portfolio Management Scheme provider. In that case, the portfolio manager will revamp your share portfolio in sync with his investment philosophy and strategy.

Once the Portfolio Management Scheme account is opened, you will be provided with an online access to your portfolio. You can look at where the portfolio manager is investing your money. Also you will be able to generate reports like Portfolio Transaction List, Investment Summary, Performance Analysis, Portfolio Statement and Quarterly capital gain report. As a result, Portfolio Management Scheme relieves you as an investor from all the administrative hassles of investments.

The Mckinsey report had said that the wealth in the emerging markets have grown 3 times more than the rates of assets in developed nations. Now here's a report that is specific about India. Indian wealth management has given a return of 18% against the global 9.7%.

The wealth management arm of the KARVY Group released the 2nd edition of its India Wealth Report today.

This Report studies patterns of individual investments across financial asset classes (excluding physical assets like gold and real estate) and finds that India's individual wealth is expected to nearly triple from the existing 86.5 lac crore to 249 lac crore by FY16. In fact, the wealth of India's HNIs has grown by over 18% compared to a mere 9.7% for global HNIs in the last one year.

Interestingly, the Report shows that fixed deposits & bonds has become the top contributor to overall wealth held by individuals in India, displacing last year's topper, direct equity, primarily due to the uncertainty in the financial markets.

JD Roth started writing his thoughts on personal finance which summarized all that he had learned from several months of reading financial self-help books. Now that journal has grown into a very useful and popular blog on personal finance, titled Get Rich Slowly, personal finance that makes cents! (Dollars, I would say)

In the following article, JDR shares his idea of a Money Day where you can focus on all personal finance matters in a day. Even though there are some issues which are US specific, the idea of a Money Day is universal.