One important difference between a PMS and a mutual fund is that the investment holdings in a PMS are held in the investor's name (in a separate account) and hence, are liable for capital gains taxes whenever the PMS manager trades on the investor's behalf.
One important difference between a PMS and a mutual fund is that the investment holdings in a PMS are held in the investor's name (in a separate account) and hence, are liable for capital gains taxes whenever the PMS manager trades on the investor's behalf.
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