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Portfolio Management Services of IDLC Investments Limited View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by BRAC University Institutional Repository Internship Report On Portfolio management services of IDLC Investments Limited Portfolio Management Services of IDLC Investments Limited Submitted to Riyashad Ahmed Assistant Professor & EMBA Coordinator BRAC Business School BRAC University Submitted by Md. Elias Hossain ID: 11104050 Date of Submission: Portfolio Management Services of IDLC Investments Limited Letter of Transmittal May 12th, 2015 Riyashad Ahmed Assistant Professor & EMBA Coordinator BRAC Business School BRAC University Subject: Submission of Internship Report Dear Sir, It gives me enormous pleasure in preparing this report that was assigned in fulfillment of my internship requirement. This paper has been valuable to me as it contains the reflection of my working experience in IDLC Investments Limited, Head Office for three months period of my internship. In this report, I have given my best to illustrate the experiences and knowledge I gained from this internship period. I would like to mention that I am extremely grateful to you for your valuable assistance, extreme understanding effort and constant attention as and when required in accomplishing the paper. I shall be very pleased to answer any query you think necessary as and when needed. Sincerely, Md. Elias Hossain Portfolio Management Services of IDLC Investments Limited Acknowledgment First of all, I am thankful to Almighty Allah. Then, I would like to thank my academic supervisor, Mr. Riyashad Ahmed, Assistant Professor & EMBA Coordinator, BRAC Business School, for his time and helpful guidance in preparing this. I am also thankful to Md. Ariful Isam, Assistant Manager, Operations, for letting me complete my internship at IDLC Investments Limited. I must mention names of some people who taught & helped me much during the internship program and also helped me preparing this by sharing their views with me: Safina E Jahan, Officer, Operations Tashfia Mahmud, Junior Officer Enam Ahmed Hasan, Officer, Discretionary Portfolio Management Nayeem Chowdhury, Senior Executive, Discretionary Portfolio Management Lastly, I thank everyone else at IDLC Investment Limited who were nice to me and helped me during the internship program. Portfolio Management Services of IDLC Investments Limited Executive Summary Merchant Banking is one of the key capital market activities that were provided by IDLC finance Limited. IDLC is the first financial institution who got the license for Merchant bank activities in January 1998. They started their Merchant bank operations in 1999. Under the merchant banking wing the services such as issue management, portfolio management and Corporate Advisory Services are provided. During 2010 SEC came up with the law which required all the financial institutions to make the merchant banking operation separate. As per requirement of the Securities & Exchange Commission (SEC), IDLC formed a separate subsidiary on May 19, 2010 in the name of „IDLC Investments Limited‟, in order to transfer its existing merchant banking activities to the newly formed entity. IDLC applied to SEC to transfer the existing merchant banking license of IDLC Finance Limited to IDLC Investments Limited. Accordingly, IDLC Investments Limited has started its operations from August 16, 2011 to offer merchant banking services to both our individual and institutional clients. Lastly this report contains overview of IDLC finance and investments, job description, findings and analysis, detailed study on the Portfolio Management Services of IDLC Investments Limited. Portfolio Management Services of IDLC Investments Limited Table of Contents Particulars Page Chapter 1: Introduction & Organization 01 1.1Overview of the Report: 02 1.2Objectives of the report: 02 1.3Limitations: 02 1.4Methodology: 02 1.5 Overview on IDLC Finance Limited: 03 1.6 Mission, Vision and Objectives 03 1.7 Overview of IDLC Investments Limited 04 1.8 Departments of IDLC Investments Limited: 05 Chapter 2 : Job Description 06 2.1 Observation: 08 2.2 Recommendation: 08 Chapter 3: Project 09 3.1 IDLC Investments Limited (Account Type) 10 3.2 Non-Discretionary Portfolio Account: 11 3.3 Discretionary Portfolio Account: 14 3.3.1 MAXCAP 14 3.3.2 Profit Loss sharing Scheme: 17 3.3.3 Capital Protected Scheme 18 3.3.4 Easy Invest: 20 3.4 Portfolio Management 21 3.5 Construction of the Portfolio 23 Portfolio Management Services of IDLC Investments Limited 3.6 Composition of the Portfolio with Description and Example 23 Portfolio 28 3.7 Composition and Components of Tax Certificate Tax Certificate 30 3.8 Findings and analysis 31 3.9 Recommendation: 31 3.10 Conclusion: 32 Glossary 33 Reference 34 Appendix 34 Portfolio Management Services of IDLC Investments Limited Chapter 1 Introduction & Organization Page 1 Portfolio Management Services of IDLC Investments Limited 1.1OVERVIEW OF THE REPORT: This report is on the portfolio management services of IDLC Investments Limited and how this portfolio management services help the clients to maintain proper Taxation. This report detailed the whole IDLC Investments Limited as example their services, maintenance, client handling, investment Criteria, adjustment with stock market, portfolio evaluation and so on. This report is also contains with some recommendation which will help them for the further development. 1.2OBJECTIVES OF THE REPORT: To provide the detail of portfolio management services To clarify the components of portfolio To clarify the investments criteria and post evaluation process. To provide the construction of Tax certificate To provide the Investment rebate 1.3 LIMITATIONS: Due to Confidentiality Important numbers are missing which could make the report more meaningful Three months are not enough to know all the Merchant bank activities Theoretical knowledge regarding Taxation 1.4 METHODOLOGY: Information Used for preparing this Report is collected from IDLC Finance Ltd‟s Website and Annual Reports from IDLC Investments Research Departments Archive. Therefore, The Source of Information for this Report is both Primary and Secondary. The Financial Analysis Part is Self Generated. Websites of Different Company and Organization. Page 2 Portfolio Management Services of IDLC Investments Limited 1.5 OVERVIEW ON IDLC FINANCE LIMITED: Industrial Development Leasing Company (IDLC) started its journey in 1985 as the first leasing company of this country. Though IDLC was introduced as a leasing company, it extended its working area and changed the name from Industrial Development Leasing Company to IDLC Finance Limited in August, 2007. In last 30 years of business, they established themselves as the top financial institution in this industry. From last few years they offered several financial solutions. The Company‟s products and services ranges from home loans, car loans, corporate and SME lease and term loan, structured finance services ranging from capital restructuring and a complete suite of merchant banking and capital market services. IDLC Finance was established with the collaboration of reputed international development agencies such as: Korean Development Leasing Corporation (KDLC), South Korea. Kookmin Bank, South Korea. International Finance Corporation (IFC) Aga Khan Fund for Economic Development (AKFED) German Investment and Development Company (DEG) 1.6 IDLC FINANCE LTD’S VISION: “We will be the best financial brand in the country.” IDLC FINANCE LTD’S MISSION: “We will focus on quality growth, superior customer experience and sustainable business practices.” IDLC FINANCE LTD’S CORPORATE PHILOSOPHY: “Discharge IDLC‟s functions with proper accountability for actions and results and bind ourselves to the highest ethical standards.” IDLC FINANCE LTD’S STRATEGIC OBJECTIVES: Grow and develop our talent pool Fully leverage new core banking platform Optimize distribution points Page 3 Portfolio Management Services of IDLC Investments Limited Grow and Diversify funding sources Grow Sales and Service Capabilities in Consumer Division Aggressively grow SME Portfolio. Focus on top tier clients in corporate Consolidate capital market operations and enhance capabilities. Embrace internationally accepted corporate governance and sustainable business practices. To extend the activity of IDLC Finance Limited management created two wholly owned subsidiaries. They are IDLC Investments Limited IDLC Securities Limited 1.7 OVERVIEW OF IDLC INVESTMENTS LIMITED: As per the requirement of Securities & Exchange Commission (SEC), IDLC formed a separate subsidiary named IDLC Investments Limited on May 19, 2010 in order to transfer its existing merchant banking activities to the newly formed entity. IDLC applied to SEC to transfer the existing Merchant Banking License of IDLC Finance Ltd to IDLC Investments Ltd. Accordingly IDLC Investments Ltd has started its operation from august 16, 2011 to offer merchant banking services to both our individual and institutional clients. Though their primary activity is to construct, maintain and evaluate the portfolio they do dome supporting activities as well. Those are investment banking, research etc. They have Margin loan department to monitor the margin loan of Capital Invest accounts They also have the finance and control department to assist with the internal and external audit. Sometimes they also perform the functions of Human Resource department when it is required. Page 4 Portfolio Management Services of IDLC Investments Limited
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