Custodian appointment required for portfolio managers; exemptions for low AUM and advisory only managers, commodity derivatives dealers still require custodian. Every portfolio manager must appoint a custodian for securities managed or administered by it, subject to exemptions for managers with total assets under ... Summary
Custodian appointment required for portfolio managers; exemptions for low AUM and advisory only managers, commodity derivatives dealers still require custodian.
Every portfolio manager must appoint a custodian for securities managed or administered by it, subject to exemptions for managers with total assets under management below five hundred crore rupees and for those performing purely advisory functions; however, any portfolio manager dealing in commodity derivatives is required to appoint a custodian regardless of those exemptions.
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