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of <h1>Asset management company activities limited to pooled-asset management/advisory; require segregation, capital, disclosures, and conflict safeguards</h1> The asset management company (AMC) is restricted to management and advisory services for pooled assets and expressly may not act as a mutual fund trustee; any other permissible activities must not conflict with mutual fund activities and, if undertaken by the AMC or its subsidiaries, require activity-wise segregation of bank/securities accounts, compliance with separate capital adequacy and approvals, and assurance of no material conflicts of interest, with mandatory disclosures to trustees and unitholders and additional disclosures where unavoidable conflicts exist; separate fund managers are required for distinct funds (except identical objective/replicated portfolios); fair investor treatment and independent remuneration for personnel handling conflicted activities must be ensured. The AMC may temporarily provide portfolio/advisory services to non-broad-based funds subject to stricter segregation and capital conditions, and may act as proprietary trading member or self-clearing member for debt-segment trades on recognised exchanges for its schemes.
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