 "Sebi")
The Securities and Exchange Board of India (Sebi) has introduced performance benchmarking and categorisation for the portfolio management services (PMS) industry, akin to the current norms in mutual funds. The move will help investors assess and compare the performance of service providers.
In a circular issued on Friday, the capital market regulator directed portfolio managers to adopt an additional layer of broadly defined investment strategies categorised as equity, debt, hybrid, and multi-asset. The move will come into effect from April 1, 2023.
Portfolio managers will be able to tag each investment approach to only one of the strategies while more
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