https://www.taxtmi.com/acts?id=38171 Every portfolio manager engaged in managing or administering securities must appoint a custodian to hold those securities, creating a separation between management and custody functions. The obligation does not apply to portfolio managers who provide only advisory services and is also excluded for co investment portfolio managers, thereby restricting the custodian requirement to managers with discretionary or administrative control over client securities. en-us Tue, 21 Jan 2020 17:00:11 +0530 Wed, 07 Aug 2024 14:09:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=38171 Every portfolio manager engaged in managing or administering securities must appoint a custodian to hold those securities, creating a separation between management and custody functions. The obligation does not apply to portfolio managers who provide only advisory services and is also excluded for co investment portfolio managers, thereby restricting the custodian requirement to managers with discretionary or administrative control over client securities. Act-Rules SEBI Tue, 21 Jan 2020 17:00:11 +0530 https://www.taxtmi.com/acts?id=38171