Audit of firm-level performance data of Portfolio Managers

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....Managers in India ('APMI') Sir / Madam, Subject: Audit of firm-level performance data of Portfolio Managers 1. As per paragraph 5.3.1 of the SEBI Master Circular No. SEBI/HO/IMD/IMD-POD-1/P/CIR/2023/38 dated March 20, 2023 ('Master Circular'), Portfolio Managers are required to audit firm-level performance data on an annual basis and submit the confirmation of compliance with paragraph 4.....

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....f advisory clients may be excluded only if performance of such clients, either individually or cumulatively, is not reported or published in any marketing material or website. 3.3. The standard ToR specified by APMI shall be applicable with effect from October 01, 2023, and shall be mandatorily followed by all Portfolio Managers for the purpose of annual audit of firm-level performance data. ....