A managed investment portfolio is in practice a securities' account that is intended for investment in securities and/or trust funds and deposits (or in other financial assets according to the nature of the portfolio), in the framework of which the account holder gives power of attorney to the manager of the portfolio to act for him. The law determines that the owner of a portfolio management license is entitled to manage an investment portfolio for clients and that the company that manages the portfolio has to have a portfolio management license.
It is important to note that everyone has different means and different aims for their investments. For those people who don't have the necessary time or expertise to make suitable investment decisions, a professionally-managed portfolio may be the right solution.