Improvement in corporate governanace

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.... Sub : Improvement in corporate governanace 1. As you are aware, all portfolio managers are required to disclose the performance of their portfolios to their clients, including  disclosure of the performance indicators calculated on the basis of weighted average method taking each individual category of investments for the immediately preceding three years in case of discretionary portfoli....

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....ll be recorded and justified with specific reasons thereof. As the purpose of introducing benchmarks is to indicate the performance of the portfolios vis.a.vis. markets to the investors, the portfolio managers may give performance of more than one index if they so desire. Also, they have the option to give their management perception on the performance of their schemes. The Boards of portfol....

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....tters issued to the portfolio managers by SEBI should also be placed before the Boards of the portfolio managers. 3. There shall be internal audit by a practicing CA or CS so as to judge the quality of internal procedures being followed by the portfolio manager. The report of the internal audit shall be submitted to the Board of the portfolio manager. 4. The portfolio manager shall exercise ....