Net worth requirement mandates minimum capital for portfolio managers and separate compliance from capital adequacy rules. Net worth requirement prescribes a minimum threshold for registration of portfolio managers and allows transitional compliance for existing registrants; ... Summary
Net worth requirement mandates minimum capital for portfolio managers and separate compliance from capital adequacy rules.
Net worth requirement prescribes a minimum threshold for registration of portfolio managers and allows transitional compliance for existing registrants; it must be met separately and independently of capital adequacy requirements, with an exemption for Co investment Portfolio Managers. Net worth is defined as paid up equity capital plus free reserves (excluding revaluation reserves) reduced by accumulated losses and deferred expenditure not written off, including miscellaneous unamortised expenses.
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