Portfolio managers' assets up 18% to Rs 12.30 lakh cr in FY17

This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).

The assets handled by portfolio managers have surged by a staggering Rs 1.85 lakh crore to Rs 12.30 lakh crore at the end of the past fiscal, mainly on the back of increase in number of clients.This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).A portfolio manager is a body corporate who advises or directs or undertakes on behalf of the client, the management of a portfolio of securities or the funds of the client.

Tightening H1B visa norms a blessing in disguise for IT firms: Mohandas Pai

The present business model of Indian IT companies -- offshore-onsite work ratio of 70:30 would now go up to 90:10, the former Chief Financial Officer of Infosys said.The tightening of H1-B work visa rules in the US would be advantageous to Indian IT firms as they would shift more work offshore and also be in a position to improve their billing rate, says industry veteran T V Mohandas Pai.The present business model of Indian IT companies offshore-onsite work ratio of 70:30 would now go up to 90:10, the former Chief Financial Office."So, what will happen is they (Indian IT firms) will offshore more work and increase their competitiveness. They will do only ten percent work onsite, and 90 percent offshore," Pai told PTI."It can be done very easily for 70-80 percent of the business. It will improve their competitiveness and make them better," he said."The new H1-B regulations are very good for Indian IT, and bad for companies which try to use it for cheap labour. First of all, Indian IT is not cheap because what they bill to clients is USD 125,000 to USD 150,000 per year (for an onsite employee)," he said."The average pay is around USD 80,000-85,000 per year. They are unnecessarily getting a bad name, because some fly-by-night operators are trying to do body-shopping and spoil the name of the entire (Indian IT) industry," he said.The new regulations would play to the strength Indian IT companies because they have been reducing the number of H1-B visas they collected since 2014,