Portfolio Managers – clarification on minimum investment amount by clients, performance of portfolio and schemes

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.... Sir/ Madam, Sub: Portfolio Managers - clarification on minimum investment amount by clients, performance of portfolio and schemes 1. Portfolio Managers are registered and regulated under the SEBI (Portfolio Managers) Regulations 1993. 2. SEBI has come across lack of uniformity in practice relating to following issues pertaining to portfolio managers: a) There have been instances....

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.... In order to bring about greater uniformity, clarity and transparency with regard to above issues, portfolio managers are advised to ensure the following; a) To ensure compliance with regulation 15(1A) of SEBI (Portfolio Managers) Regulations, 1993, it is clarified that the first single lump-sum investment amount received as funds or securities from clients should not be less than Rs. 5 L....

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....g their services to clients. 4. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 39 of the SEBI (Portfolio Managers) Regulations, 1993, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 5. This ci....