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

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....o 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 of portfolio managers accepting funds or securities less than ₹ 5lakh from clients and opening client accounts on the basis of the client‟s comm....

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....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 ₹ 5 Lakh. b) To ensure compliance with regulation 14(2)(b)(iv) of SEBI (Portfolio Managers) Regulations, 1993, Portfolio Managers shall disclose the performance of....

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.... 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 circular is available on SEBI website at www.sebi.gov.in under the category "Legal Framework" and under the drop down "Portfolio Managers". Yours faithfully, Maninder Cheema Dep....