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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Guidelines for Portfolio Managers: limit fees, mandate direct client onboarding, standardise disclosures and audited net performance reporting.</h1> SEBI prescribes operative guidelines for portfolio managers: upfront fees are prohibited and brokerage charged at actuals; operating expenses (excluding brokerage) are capped at 0.50% p.a. of client AUM and exit loads limited to a declining threeyear schedule, with no load thereafter. Portfolio managers must allow direct client onboarding without distributor intermediation and charge no onboarding fees except statutory levies. Investment approaches must be described uniformly across disclosures, including objectives, security types, allocation, benchmark and risks. Performance must be reported net of all fees and expenses, include cash and liquid investments, and firmlevel performance must be audited annually. Distributor fees limited to trail only and subject to code and verification.
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