Eligible fund manager declaration: compliance and profit-entitlement limits govern portfolio managers serving eligible investment funds. SEBI requires portfolio managers and applicants to sign declarations (by two directors or designated partners) confirming they are not employees or ... Summary
Referred In :
Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993
Eligible fund manager declaration: compliance and profit-entitlement limits govern portfolio managers serving eligible investment funds.
SEBI requires portfolio managers and applicants to sign declarations (by two directors or designated partners) confirming they are not employees or connected persons of the eligible investment fund, that they act in the ordinary course of their portfolio management business, and that they and their connected persons will not be entitled to more than twenty percent of profits arising to the eligible investment fund from transactions executed through them; fund management for eligible funds is subject to SEBI registration and to other government or regulatory requirements.
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