Assets management is an activity where the asset manager manages its clients’ assets. The clients give the asset manager the mandate to run their account at their discretion, without necessarily involving them in the decision making process.
The applicant shall lodge the application together with the following documents:
- Certificate of Incorporation;
- Business Plan;
- Details of other licenses held and the issuing authority;
- CVs for the senior officials;
- Latest Annual Returns;
- Professional Indemnity Insurance Cover; and
- Audited Financial Statements.
The applicant while lodging the documents requested for by the FSC should also note to pay the processing fee of USD 500. The Investment Adviser shall also be required to pay an annual fee of USD 5,000.
The applicant should inject a minimum paid up and unimpaired stated capital of at least Rs 500,000. The applicant should also note not to commence operations until the minimum capital has been raised.