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    <title>Clarification regarding amendment to SEBI (Portfolio Managers) Regulations, 2020</title>
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    <description>The amended framework permits AIF managers to offer Co investment via the portfolio management route subject to prior intimation if already registered as a Portfolio Manager, or subject to prior registration if not registered. Portfolio Managers must submit monthly reports to the regulator within seven working days (Annexure A) and quarterly client reports (Annexure B). Fee and direct on boarding provisions of earlier guidance do not apply to Co investment, while remaining applicable to other portfolio management services. Reporting formats apply from April 2022; other provisions from the notification date.</description>
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