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of <h1>SEBI Requires Portfolio Managers to Disclose 3-Year Performance, Include Benchmarks, and Conduct Internal Audits for Compliance.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) mandates portfolio managers to disclose portfolio performance to clients, including performance indicators calculated using a weighted average method for the past three years. Managers must also include benchmark indices in reports to provide a market comparison. Boards of portfolio managers are required to review fund performance, compliance with SEBI regulations, and investor grievances. An internal audit by a qualified professional is necessary to assess internal procedures. Portfolio managers must exercise due diligence and submit compliance reports to SEBI semi-annually. These guidelines are pursuant to SEBI regulations.
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