https://www.taxtmi.com/circulars?id=58399 AMCs must retain sole responsibility for distributor due diligence and may only take agency assistance; they must appoint separate fund managers for distinct funds unless investment objectives, asset allocation and portfolio replication are the same. A minimum 70% portfolio replication is acceptable where a written trade allocation policy exists and managers avoid directionally opposite positions. AMCs must disclose the manager's returns for all schemes on their websites monthly, include those returns in any performance advertisement, and report plus explain significant inter-scheme return differences to trustees and on their website. en-us Tue, 28 Feb 2012 00:00:00 +0530 Sat, 15 Dec 2018 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58399 AMCs must retain sole responsibility for distributor due diligence and may only take agency assistance; they must appoint separate fund managers for distinct funds unless investment objectives, asset allocation and portfolio replication are the same. A minimum 70% portfolio replication is acceptable where a written trade allocation policy exists and managers avoid directionally opposite positions. AMCs must disclose the manager's returns for all schemes on their websites monthly, include those returns in any performance advertisement, and report plus explain significant inter-scheme return differences to trustees and on their website. Circulars SEBI Tue, 28 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58399