Clarification regarding amendment to SEBI (Portfolio Managers) Regulations, 2020

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....Managers Dear Sir/Madam, Subject: Clarification regarding amendment to SEBI (Portfolio Managers) Regulations, 2020 1. The Securities and Exchange Board of India (Portfolio Managers) Regulations, 2021 (PMS Regulations) were amended vide notification dated November 09, 2021, to facilitate co-investment by investors of Alternative Investment Funds (AIF) through the portfolio management route....

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....irous of offering portfolio management services other than Co-investment, the same shall be subject to compliance with all provisions of the PMS Regulations including eligibility criteria, and with the prior approval of SEBI. 2.2. Periodic reporting by Portfolio Managers i. In partial modification to provisions of Circular No. SEBI/HO/IMD/DF1/CIR/P/2021/02 dated January 08, 2021, Portf....

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....s and charges as specified therein, shall not be applicable to Co-investment services. The provisions of the aforesaid paragraph A.3 shall remain unchanged for portfolio management services other than Co-investment. 2.4. Direct on-boarding of clients by Portfolio Managers i. In partial modification to paragraph B of Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/26 dated February 13, 2020, th....