General responsibilities of a Portfolio Manager

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h the needs of the client, in a manner which does not partake character of a Mutual Fund, whereas the non-discretionary portfolio manager shall manage the funds in accordance with the directions of the client. (2) The portfolio manager shall not accept from the client, funds or securities worth less than fifty lakh rupees: Provided that the minimum investment amount per client shall be appli....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to the client's funds. (4) The portfolio manager shall segregate each client's holding in securities in separate accounts. (5) The portfolio manager shall keep the funds of all clients in a separate account to be maintained by it in a Scheduled Commercial Bank. Explanation. ─ For the purposes of this sub-regulation, the expression 'Scheduled Commercial Bank' means any bank incl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (11) The portfolio manager shall ensure that any person or entity involved in the distribution of its services is carrying out the distribution activities in compliance with these regulations and circulars issued thereunder from time to time. ^3[(12) The portfolio manager shall ensure compliance with the Investor Charter specified by the Board from time to time.]     ****....