Portfolio management: require benchmark performance disclosure, board oversight, internal audit, and half yearly compliance reporting. Portfolio managers must include benchmark index performance in client periodical reports under Regulation 21, selecting indices that match client objectives and recording any later changes. Boards must review portfolio performance against benchmarks and take corrective action. Boards must also receive quarterly compliance reports, monitor due diligence and investor grievance redressal, and place SEBI deficiency or warning letters before the Board. An internal audit by a practicing CA or CS must assess internal procedures and be submitted to the Board. Managers must exercise due diligence and submit half-yearly compliance reports to SEBI within thirty days for prescribed reporting dates.
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Portfolio managers must include benchmark index performance in client periodical reports under Regulation 21, selecting indices that match client objectives and recording any later changes. Boards must review portfolio performance against benchmarks and take corrective action. Boards must also receive quarterly compliance reports, monitor due diligence and investor grievance redressal, and place SEBI deficiency or warning letters before the Board. An internal audit by a practicing CA or CS must assess internal procedures and be submitted to the Board. Managers must exercise due diligence and submit half-yearly compliance reports to SEBI within thirty days for prescribed reporting dates.
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