Overhaul of portfolio management services: What SEBI has proposed and what it means for investors
The Securities and Exchange Board of India (SEBI) proposed a comprehensive review of the SEBI (Portfolio Managers) Regulations, 2020, to modernize portfolio management services (PMS) in response to the industry's doubling of managed assets over the past six years. The reforms aim to provide greater flexibility for portfolio managers and expand investment options for sophisticated investors, including a new 'mutual fund-only' category and the ability to invest in overseas and to-be-listed securities. This initiative reflects SEBI's commitment to adapting regulations to the evolving landscape of India's capital markets.