Nippon Life India AIF Management Limited Limited is a 100% subsidiary of Nippon Life India Asset Management Limited (Formerly Reliance Nippon Life Asset Management Limited) (NAM India).
Nippon Life India Asset Management Limited (Formerly Reliance Nippon Life Asset Management Limited)(NAM India) is the asset manager of Nippon India Mutual Fund (NIMF). Presently, Reliance Capital Limited holds 46.57% of its total issued and paid-up equity share capital of NAM India. Nippon Life Insurance Company (NLI) holds 49.00% of NAM India's total issued and paid up equity share capital.
Reliance Capital Limited is one of India’s leading and fastest growing, RBI registered Non-Banking Finance Company (NBFC). and has its business interests in Asset Management, Life Insurance, General Insurance, Private Equity, Proprietary Investments, Stock Broking, & other activities in the Financial Services Sector.
Nippon Life Insurance Company (“NLI”) is a Japan’s leading private life insurer and offers a wide range of financial products, including individual and group life and annuity policies through various distribution channels, mainly using face-to-face sales channels for its traditional insurance products. It primarily operates in Japan, North America, Europe and Asia, and is headquartered in Osaka, Japan. NLI conducts asset management operations in Asia, through its subsidiary Nissay Asset Management Corporation (“Nissay”), which manages assets globally.
NAM India which is the largest asset manager in India, with a client base of more than 5 million investors across businesses that include Mutual funds, ETFs, Portfolio Management Services, Pension funds, Alternative investments, Offshore strategies and International Advisory Services to clients globally in asset classes like Debt, Equity, and Real Estate.
NAM India is the only private sector AMC to be appointed by the Indian government to manage funds for both Employees' Provident Fund Organization (EPFO) and New Pension System (NPS).
NAM India has the widest reach with more than 42,500 third party distributors, over 160 customer touch-points, and has one of the largest and most experienced investment team in India across Equities, Fixed Income, Quant, and Alternative Investments.
Nippon Life India AIF Management Limited Limited acts as an Investment Manager / Advisor of Alternative Investment Funds.
Nippon Life India AIF provides differentiated investment opportunities through various unique offerings across diverse asset classes. We offer both under Category II & Category III AIF investment platforms. Our current offerings include products under High Yielding space, Sector Agnostic Credit Space and Equity Space.
1. What is Portfolio Management Services (PMS)?
Portfolio Management Services (PMS) is an investment portfolio in stocks, fixed income, debt, cash, structured products and other individual securities, managed by a professional money manager, that can potentially be tailored to meet specific investment objectives.
When you invest in PMS, you own individual securities unlike a mutual fund investor, who owns units of the entire fund. You have the freedom and flexibility to tailor your portfolio to address personal preferences and financial goals. Although portfolio managers may oversee hundreds of portfolios, your account may be unique.
Investment Management Solutions in PMS, can be provided in the following ways:
- Non Discretionary
Discretionary: Under these services, the choice as well as the timings of the investment decisions rest solely with the Portfolio Manager.
Non Discretionary: Under these services, the portfolio manager only suggests the investment ideas. The choice as well as the timings of the investment decisions rest solely with the Investor. However the execution of trade is done by the portfolio manager.
Advisory: Under these services, the portfolio manager only suggests the investment ideas. The choice as well as the execution of the investment decisions rest solely with the Investor. Note: In India majority of PMS providers offer Discretionary Services.
2. Who can offer PMS?
PMS can be offered only by entities having specific SEBI registration for rendering portfolio management services. Currently in India. PMS is offered primarily by asset management companies (AMCs) and brokerage houses.
3. Does one necessarily have to invest in cash to open a PMS account?
Apart from cash, the client can also hand over an existing portfolio of stocks, bonds or mutual funds to a PMS that could be revamped to suit his profile.However the portfolio manager may at his own sole discretion sell the said existing securities in favour of fresh investments.
4. What is the tax liability for the PMS investor?
The portfolio manager is a trustee acting in a fiduciary capacity on behalf of the investor. Therefore, the tax liability for a PMS investor would remain the same as if the investor is accessing the capital market directly. However the investor should consult his tax advisor for the same. The portfolio manager ideally provides audited statement of accounts at the end of the financial year to aid the investor in assessing his/ her tax liabilities.
5. What are the benefits of PMS?
a. Professional Management - The service provides professional management of portfolios with the
objective of delivering consistent long-term performance while controlling risk.
b. Continuous Monitoring - It is important to recognise that portfolios need to be constantly monitored and periodic changes made to optimise the results.
c. Risk Control - A research team responsible for establishing the client's investment strategy and providing the PMS provider real time information to support it, backs any firm's portfolio managers.
d. Hassle Free Operation - Portfolio Management Service provider gives the client a customised service. The company takes care of all the administrative aspects of the client's portfolio with a periodic reporting (usually daily) on the overall status of the portfolio and performance.
e. Flexibility - The Portfolio Manager has fair amount of flexibility in terms of holding cash (can go up to 100% also depending on the market conditions). He can create a reasonable concentration in the investor portfolios by investing disproportionate amounts in favour of compelling opportunities.
f. Transparency - PMS provide comprehensive communications and performance reporting. Investors will get regular statements and updates from the firm. Web-enabled access will ensure that client is just a click away from all information relating to his investment. Your account statements will give you a complete picture of which individual securities you hold, as well as the number of shares you own. It will also usually provide:
- the current value of the securities you own; - the cost basis of each security;
- details of account activity (such as purchases, sales and dividends paid out or reinvested);
- your portfolio's asset allocation;
- your portfolio's performance in comparison to a benchmark;
- market commentary from your Portfolio Manager
g. Customised Advice - PMS give select clients the benefit of tailor made investment advice designed to achieve his financial objectives. It can be structured to automatically exclude investments you may own in another account or investments you would prefer not to own. For example, if you are a long-term employee in a company and you have acquired concentrated stock positions over the years and have become over exposed to few company's stock, a separately managed account provides you with the ability to exclude that stock from your portfolio.
h. Personalised Approach - Some Portfolio Managers may provide a personal investment management service to achieve the client's investment objective. In PMS, you may gain direct personalised access to the professional money managers who actively manage your portfolio. This interaction may come in various different ways including in-person meetings, conference calls, written commentary, etc with the fund management team.
6. What can you expect from PMS?
When one has entrusted his money to a PMS, one can expect:
Handholding from his portfolio manager than he has been accustomed to from his mutual fund.
One can expect to have a relationship manager/ financial advisor through whom he can interact with
the fund manager at any time of his choice. One can also expect frequent (maybe monthly) interaction
with the portfolio manager to discuss any concerns that he might have. To be updated on any major
changes in asset allocation or in the investment strategy relating to his portfolio. All administrative
matters, including operating a bank account and dealing with settlement and depository transactions,
will be handled by the PMS.
On handing over one's money, he will receive a user-ID and password from the PMS, which will grant him online access to his portfolio details. He can use these to check back on his portfolio as often as he likes.
Keeping track of capital gains (and losses) for the taxman can be a depressing chore, when one has furiously churned his investments through the year. Opting for PMS will free him of this chore, as a detailed statement of the transactions on his portfolio for tax purposes comes as a part of the package.
7. What one pays for PMS?
When one has entrusted his money to a PMS, one can expect:
Most Portfolio Managers allow one to choose between a fixed and a performance-linked management fee or a
combination. If one opts for the fixed fee, he may pay between 2.50-3.50 per cent of portfolio value; this
is usually calculated on a weighted average basis. This fee is apart from the actual expenses like custodian
expenses, audit fee, brokerage on transactions etc, which may be charged on actuals. The structure for the
performance-linked fee differs across players; usually, apart from a performance-linked fee usually it may
include a flat fee.
The portfolio manager also gets to share a percentage of your profit - usually 15-20 percent - earned over and above a threshold level, which may range between 8 per cent and 15 per cent.
Apart from management fees, separate charges will be levied towards brokerage, custodial services and towards meeting tax payments. Usually the fixed fee component is charged on a monthly basis and the variable component is charged on a yearly basis.When one opts for a performance-based fee, the profits are reckoned usually on the basis of "high watermarking". That is, one pays the fee only on the positive returns on his portfolio.
For instance, if one invests Rs. 100 in a PMS and its value appreciates to Rs. 150 at the end of the year, he pays a fee on the profit of Rs. 50. Subsequently, a fee will be levied only on gains over and above the Rs. 150 mark. If the value of his portfolio slumps to Rs. 70, and climbs back to Rs. 110, the Rs. 40 you earn will not be reckoned as profit. You will again be charged a fee only if the value of your portfolio recovers to over Rs. 150, the previous "high watermark."
8. Portfolio Management Services and Mutual Funds: The Differences
Provide ongoing, personalized access to professional money management services
Provide access to professional money management services
Portfolio can be tailored to address each investor's specific needs
Portfolio structured to meet the fund's stated investment objectives
Provide ongoing, personalized access to professional money management services
Provide access to professional money management services
Investors directly own the individual securities in their portfolio, allowing for tax management flexibility
Shareholders own shares of the fund and cannot influence buy and sell decisions or control their exposure to incurring tax liabilities
Although managers may hold cash, they are not required to hold cash to meet redemptions
Mutual funds generally hold some cash to meet redemptions
Significantly higher minimum investments than mutual funds. Generally, minimum ranges from:
Provide ongoing, personalized access to professional money management services
Generally more flexible than mutual funds. The Portfolio Manager may move to 100% cash if required.
Comparatively less flexible
9 . Role of the Financial Advisor
The Financial Advisor should guide the investor through an ongoing consulting process designed to lead him towards his investing goals and keep his investment strategy on track. This process may include the following:
- Setting Goals and Guidelines: The investor along with the Financial Advisor can work together to
identify his financial goals and expectations, which can be translated into a long-term investment plan.
- Determining Asset Allocation: Based on the investor objectives, the Financial Advisor may suggest an asset allocation divided among stocks, fixed income, debt, cash, structured products and other investments and also determine which investment vehicles are most appropriate for the investor. Having a mix of broad asset categories is an important factor in achieving the investor's investment objectives.
- Selecting Investment Managers and Investment Vehicles: After determining asset allocation, the Financial Advisor may recommend specific portfolio managers who manage assets in a particular style, such as large cap growth, for example. The Financial Advisor's choice of managers is generally based on the manager's investment style and performance history, the professional relationship he or she has developed with the manager and the manager's firm, and a number of other criteria.
- Managing and Monitoring Investor Accounts: Investors may receive periodic statements detailing their account's holdings and performance. The Financial Advisor may want to meet with the investor to explain the information in these statements and evaluate the performance in light of his goals. If a change is needed, the Financial Advisor can recommend adjustments to help meet investor objectives.
- Ongoing Personal Service:PMS service may include ongoing communication and frequent contact from the Financial Advisor, in addition to periodic reviews. Also the Financial Advisor may help you put investment performance in the proper perspective, and help you decide whether it may be appropriate to:
a) modify your expectations to reflect a changing market;
b) adjust your risk considerations; or
c) reallocate the assets in your portfolio.
10. Frequently Asked Questions
Q: What is Portfolio Management Services?
PMS is an investment portfolio of stocks, fixed income, debt, cash, structured products and other securities that is tailored to meet specific investment objectives.
Q: What are the benefits of PMS?
PMS can offer the following characteristics: inpidualised portfolios, professional management, richer canvas, flexibility, transparency, persification and asset allocation, among others.
Q: What types of investors own PMS accounts?
Each inpidual client has different needs that change over time. A Financial Advisor can help the investor decide whether portfolio management service is appropriate, based on his current financial situation, investment objectives, time horizon, risk tolerance and other factors.
Q: What investment strategies are available?
PMS is offered in a wide variety of asset classes and investment styles, including large cap, mid cap, small cap, multi cap, value and growth and international asset.
Q: What is the role of the Financial Advisor after a PMS account is opened?
The Financial Advisor helps the investor identify and select investment options, and continues to provide the services of a primary relationship manager. Financial Advisors take on a consultative role with the investor by helping the investor work with the portfolio management team to discuss and determine the appropriateness of the investor's current investment strategy. Financial Advisors also help in evaluating the investment performance of the investor.
Q: How does the investor stay updated on his portfolio's performance?
Regular communication from the portfolio management team is an essential tool in keeping the investor and the Financial Advisor informed. Among the tools that are usually provided: periodic performance reporting, monthly investment commentary, and online portfolio information.
Q: What is the difference between a PMS account and a mutual fund?
Unlike an investor in a mutual fund, portfolio managed account holders own the inpidual securities in their accounts. Although investment managers oversee hundreds of accounts, a PMS investor's account is "separate" from that of any other investor, which gives the investor the ability to direct the manager to customize the portfolio based on personal and financial needs and goals. For example, the investor may request that the portfolio include or exclude a particular security or sector, or that some holdings be sold to produce capital gains or losses.
Q: What if the investor has special requests?
PMS allow investors to impose reasonable stock, sector, or other preferences and restrictions on the management of their accounts. For example, if the investor owns his employer's stock in investment, the investor and the Financial Advisor may decide not to invest additional assets in the company.
Q: How much input does the investor have in the stocks that are chosen for his portfolio?
The Investor and the Financial Advisor will want to have an initial consultation to discuss specific objectives, risk tolerance, time horizon, and goals. Depending on the PMS account chosen, the investor may have the ability to impose reasonable investment restrictions on the management of his account. Some PMSs offer more flexibility than others, usually based on the amount invested.
Q: What are the minimum investment requirements for PMS accounts?
A single style PMS usually requires an investment minimum of Rs. 1 crore and above for Equity, Rs. 5 crore and above for Debt, Rs. 20 lacs and above for Structured.
Q: Are there risks associated with PMS investments?
Yes. All investments involve a certain amount of risk, including the possible erosion of the principal amount invested, which varies depending on the security selected. For example, investments in small and mid-sized companies tend to involve more risk than investments in larger companies.
Reliance AIF Management Company Limited, (hereinafter referred to as "NIAIF") owns and maintains www.nipponindiaaif.com (the Website). NIAIF owns or has license to use all contents, graphs, images, HTML and CGI or other scripts displayed and used on this Website. The information contents provided on this site should / cannot be copied, modified, uploaded, downloaded, published or republished, transmitted or otherwise distributed for commercial purposes without prior and explicit permission from NIAIF. Reproduction of any information or material, with or without any modification, provided on this Website is prohibited unless, with prior permission of NIAIF, and shall amount to violation of copyright and would amount to be an illegal act.
NIAIF reserve its right to select the user of this Website and take decision as to whether to permit or not any person to use services provided on this Website.
All the information, material and services provided on this Website is on an "As Is" basis and NIAIF disclaims any liability for any misrepresentation, inaccuracy, falsification, or omissions that may be present in the information and/or material. Visitor's discretion is requested before using any information in the website for any purpose.
The reports & other data provided on this website are solely for information purposes only. The same may not be used to conclude any commercial transactions (including redemptions, pledges etc.), since the same may include technical inaccuracies and be subject to reconciliations. NIAIF reserves the right (but is not required) to correct any errors or omissions on the Site. NIAIF may also make improvements and/or changes to the site provided therein at any time. Further, NIAIF shall not be considered in default of its obligations hereunder if performance of such obligations is prevented or delayed by causes beyond its reasonable control, including, without limitation, internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, non-performance of third parties etc. A person relying on the site and any materials available through the site, does so solely at his own risk. NIAIF, each of its officers, directors, subsidiaries, affiliates, agents, or licensors shall not be liable for incidental, indirect, consequential, special, punitive, exemplary damages, or any damages whatsoever, including but not limited to damages for lost revenues or profits, loss of business or loss of data arising out of or in any way related to the use and performance of the site or for any claim, loss or injury based on errors, omissions, interruptions or other inaccuracies arising out of the use of the site, whether based on contract, tort, negligence, strict liability or otherwise. You are requested to contact NIAIF, your Relationship Manager or the Customer Service Desk before initiating any action based on the report/data viewed on the website.
The information, material, and data provided on this Website is /are not advice, professional or otherwise, which may be verified by the person/investor and should not be relied upon as such. Users, Investors are advised to use their own judgment while using information provided on this Website for making any investment decision of products and or services. NIAIF will not be responsible for any losses, damages or any expenses of whatsoever nature arising out of the investment decision taken by any person by use of or relying on the information provided on this Website. The information herein is believed to be reliable but NIAIF does not warrant its accuracy or truthfulness. The contents of research reports, articles and the interpretation of data are solely the personal views of the contributors and the same may not be treated as the views of NIAIF.
Neither any information nor any opinion provided herein constitutes a solicitation or offer by NIAIF to buy or sell units of any scheme of AIFs managed by NIAIF, any securities, futures, options, or other financial instruments or provide any investment advice or services or insurance products or mutual fund units or any other financial products. NIAIF or its employees, affiliates, directors and persons involved in preparation in this information may buy or sell or take possession in instruments, dependent or independent of the opinion and information contained in the Website at any time. The Investment in securities is subject to market, investment risk. The investment discussed and/or recommended herein may not be suitable for all the investors. The person using the information provided on this Website may take investment decision after considering his investment objectives and risk factors.
The information, opinions and material provided on this Website are subject to change without any prior notice. NIAIF may have business relationship with the companies mentioned herein and may enter or might have entered in to any contract or have any transaction in the ordinary course of its business.
NIAIF and its directors, employees, associates, or other representatives shall not be liable for any damages or injury arising out of or in connection with the use or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reasons whatsoever. NIAIF will not be responsible for any liability arising out of delay in providing any information on the Website.
NIAIF may provide services of linked sites to the users of the Website, however it will not be responsible for the contents/performance of such linked sites, neither it endorses the content of the linked sites nor to the services provided by such sites.
This Website is not intended for distribution to, or use by, any person in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. The investment services and products mentioned in the Website may not be available in every jurisdiction / country.
This disclaimer clause shall be applicable to any person visiting/accessing this Website and/or a customer entering into an agreement related to availing of the services offered by NIAIF. By clicking to the links to this site, the visitor hereby acknowledges that he has gone through the details of these disclaimers and is fully acquainted himself with regards to his rights and obligations Viz. rights and obligations of NIAIF.
NIAIF owns and operates the website with the URL www.nipponindiaaif.com. The services of the website are offered to you only if you are legally eligible to enter into a valid agreement and when you accept the terms, conditions, and notices contained herein without modification whatsoever. Please carefully note that by using this website, you are agreeing to be bound by all of the terms and conditions of NIAIF website service.
For accessing certain privileged information on this website, you will be provided with a password sent through a separate communication. You are totally accountable / responsible for all the actions that take place in your account. It is entirely your responsibility to maintain the confidentiality of your password and identification and also to inform NIAIF without delay of any dishonest, unauthorised or illegal use of your account.
NIAIF offers the website services for your authentic, bona fide, valid, legitimate and personal use only. You declare that you will not use NIAIF services for any purpose that is unlawful, dishonest, unauthorised, improper and/or in contradiction of the terms, conditions, and notices contained herein.
NIAIF expressly prohibits you from any unauthorised commercial use or resale of its services. You agree to comply with all rules, regulations, statutes, codes of conduct valid as per any local, state, national and international laws in force and are wholly responsible for all actions or lapses that take place through your membership account or password, including the content of your messages sent through www.nipponindiaeaif.com both online and offline.
NIAIF expressly prohibits you from engaging in any of the activities as illustrated hereunder and includes, but not limited to:
Insult, exploit, torment, hound, intimidate or otherwise infringe the legal rights of others.
Circulate, disseminate or propagate any improper, derisive, slanderous, infringing, vulgar, offensive, dishonest, criminal or illegal information or material.
Fabricate a fake identity to mislead anyone in respect of the identity of the sender or the origin of a communication.
Transmit any substance that contains viruses, Trojan horses, worms, time bombs, cancel bots, or any other harmful or deleterious programs.
Send any content governed by intellectual property laws, rights of privacy or any other applicable law except in case you possess the rights thereto or have received all necessary consents.
Obstruct or interrupt systems connected to the www.nipponindiaaif.com services or infringe the rules, policies or procedures of such systems.
Try to secure unauthorised access to the services provided by NIAIF, computer systems or networks connected to www.nipponindiaaif.com, other members' accounts, through password hacking or any other method.
Infringe any applicable laws or regulations including, without limitation, laws relating to the information technology in India or elsewhere.
Obstruct another member's use and enjoyment of the services offered by NIAIF.
Use NIAIF or its services to conduct surveys, competitions, pyramid schemes, chain letters, unsolicited e-mail, or unwanted messages for profit or otherwise.
Dig for or otherwise gather information about others members, including e-mail addresses, without their consent. Provided further, that it shall not be binding on NIAIF to part with such information even if the consent is obtained.
You specifically agree to indemnify NIAIF, its promoters, subsidiaries, affiliates, directors, officers and employees, any loss, claim, demand, or damage, including legal expenses, incurred due to or arising out of your use of or conduct in respect the services offered by NIAIF.
NIAIF is not responsible for monitoring its services or any user's use thereof or restrain or regulate the messages, content or subject matter of any user delivered through the services offered by NIAIF website.
Nevertheless, NIAIF at all-time reserves the right to regulate, restrain, monitor, review, retain and / or divulge any information as necessary to satisfy any applicable rules, regulation, law, court or government order or to protect and defend the rights of other users or to enforce the terms of service which are binding on all the users of NIAIF website.
NIAIF reserves the right to terminate your access to the site wholly or partially and/or cancel your membership account, at any time without assigning any reason or giving notice whatsoever. NIAIF is not responsible or accountable for any intimidating, offensive, vulgar obscene, improper or illegal content or conduct of any member or any breach of another member's privacy or privileges or intellectual property rights.
NIAIF obtains information and data contained in this web site from various sources. Though it believes the said information / data to be reliable, but it does not guarantee its accuracy, validity, timeliness, reliability or completeness. NIAIF is under no obligation to update the information in the web site or to provide data that reflect the current state of affairs. NIAIF does not stipulate or warrant that its services will be uninterrupted or free of errors or that defects will be corrected, or that the services or the server that makes it available, are free of viruses or other unsafe components. You expressly agree that NIAIF shall not be responsible for unauthorised access to and/or erroneous alteration of your messages, transmissions, data, material sent or received or not sent or received, or any communication entered into through the use of its services.
NIAIF, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you may incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of NIAIF or of any vendor providing software or services support. In no event will NIAIF be liable to you for any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if NIAIF or any other party have been advised of the possibility thereof.
You expressly agree that no part of the material available in the site may be copied or duplicated in any form or redistributed by any means for commercial purposes, directly or indirectly. If you download any information or software from this site, you agree that you will use it exclusively for your personal and non-commercial purposes and not copy it, remove, or obscure any copyright or other notices or legends contained in any such information.
NIAIF may refer to or provide information or links to third party sites only as a matter of user convenience. NIAIF expressly states that such inclusion of any references, information or links do not imply or endorse the services or content offered by such third party sites nor it implies any association of NIAIF with those sites. You agree that the linked sites are not under the control of NIAIF and NIAIF is not responsible for the services or contents of any referred or linked or third party site or for web casting or any other form of transmission received from any such third party referred or linked sites.
NIAIF, its parent company, subsidiaries, affiliates, directors, officers, employees or dealers shall under no circumstances be liable for any direct, indirect, punitive, incidental, special, consequential damages whatsoever including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with the use or performance of the service or related web sites, with the delay or inability to use the service or related web sites, the provision of or failure to provide services, or for any information, software, products, services and related graphics obtained through the service, or otherwise arising out of the use of the service, whether based on contract, tort, negligence, strict liability or otherwise, even if NIAIF its parents, subsidiaries, affiliates, directors, officers, employees or dealers or any of its suppliers have been advised of the possibility of such damages.
To facilitate user convenience, NIAIF may arrange for advertisements, promotions and refer to or provide information or links to third party sites in respect of any investment or non-investment related products or services. NIAIF expressly states that such inclusion of any links, references or information do not imply or endorse the merchantability, suitability for a specific purpose of such products or services. You specifically agree that any transactions with Advertisers on the products or services or participation in promotions, including the delivery of and the payment for goods and services, and any other terms, conditions, warranties or representations associated with such transactions or promotions, are solely between you and the Advertiser or other third party. NIAIF shall not be responsible or liable for any part of any such dealings or promotions.
You specifically agree that neither the information nor any opinion expressed should be construed as an offer to sell or the solicitation of an offer to buy any security. You also agree that not all instruments, products, or services that may be mentioned in the website are available in all countries, and no part of the site here is an offer or solicitation of any instrument, product or service in any jurisdiction where their offer or sale is not qualified or exempt from regulation.
NIAIF expressly states that incomes, yields, returns indicated may fluctuate depending on the market conditions and past performance of any product or scheme are not a guide to its future performance. You agree that investments in AIFs inherently involve risks and NIAIF shall not be responsible for any loss or damage that could result from any action you may take basing on any information made available to you via www.nipponindiaaif.com. AIFs are subject to various risk factors and You are specifically advised to read and understand the Risk Factors as contained in scheme related documents including private placement memorandum and also seek professional advice regarding the appropriateness of investing in any AIF schemes/securities or investment strategies discussed or recommended in this site and should understand that statements regarding future prospects may not be realised.
NIAIF reserves the right to change any or all of the terms and conditions any time under which the services are offered. In the event of such change, NIAIF notifies all users by presenting the revised terms and conditions on the www.nipponindiaaif.com web site. You agree that it is your responsibility to regularly review the terms and conditions and your continued use of NIAIF services subsequent to any such changes shall represent your agreement to such changes.
NIAIF specifically prohibits you from usage of any of its services in any countries or jurisdictions that do not corroborate to all stipulations of these terms and conditions. You agree that disputes if any arising as a result of this agreement or out of the usage of the services offered by NIAIF are subject to the jurisdiction of courts in Mumbai, India.
The content provided by any Third Party service provider is exclusive of any warranty whatsoever, including satisfactory quality fitness for a particular purpose, originality and non-infringement, and all warranties arising out of course of performance, course of dealing and usage of trade or their equivalents under the laws of any jurisdiction, the Third Party service provider's provisions of content shall not be deemed to be investment management or advisory services.
Terms and Conditions
1. The Investor shall use the user name and password with which he shall access account information and access various services provided by Nippon Life India AIF Management Company Limited (NIAIF) over the Internet. It shall be the sole responsibility of the Investor to ensure adequate protection and the confidentiality of the user name and password and any disclosure thereof to any other person shall be entirely at the Investor's risk. Further, NIAIF shall not be liable at all for any misuse if any, of any data placed on the Internet, by third parties "hacking" or unauthorized accessing the server.
2. NIAIF will take best efforts to keep the website updated on a regular basis so as to provide most current information to Investors. However, the Investor agrees that because of communications issues, it is possible that the site may not be current on occasion. The Investor also agrees that the look and feel of the Web screen and outputs there from may differ based on the nature of the software used by the Investor to browse the Website.
3. NIAIF shall not be liable for any unauthorized usage of the username and password facility and the Investor hereby fully indemnifies and holds NIAIF, its officers, employees, and authorised representatives harmless against all action, suit, proceeding and demands whatsoever initiated against it or any loss, cost or damage incurred by it as a result thereof.
If investors/customers/clients have any concerns relating to their personal and sensitive information they may be addressed to Mr. Pratik Nitin Joshi.