Portfolio Managers

Sebi considering mandatory registration of PMS distributors with APMI

Markets regulator Sebi on Thursday proposed promoting collective oversight of PMS distributors by making registration with the Association of Portfolio Managers in India (APMI) mandatory for them and facilitating ease of digital onboarding process for portfolio managers' clients. The proposals are aimed at promoting ease of doing business initiatives for portfolio managers. This came after the Finance Minister in the Budget announcements for the financial year 2023-24 made an announcement to simplify, ease, and reduce the cost of compliance for participants in the financial sector through a consultative approach. In its consultation paper, the regulator proposed making registration with APMI mandatory for PMS (Portfolio Manager Services) distributors. The recommendation is in line with the practice already being followed in the mutual fund industry, wherein, mutual funds distributors are required to register with the Association of Mutual Funds in India (AMFI) and obtain an ARN (AM

Portfolio managers bet on fixed-income assets, see small-caps undervalued

According to CIOs and Portfolio Managers gathered at the Franklin Templeton APAC Investor Forum 2023, opportunities can also be found in mid-cap and small-cap growth businesses, which are undervalued

Sebi brings in uniformity in audit of firm-level performance data

In order to bring uniformity, capital markets regulator Sebi on Wednesday decided to standardise the way portfolio managers audit the firm-level performance data on an annual basis, according to a circular. Under the rule, portfolio managers are required to submit audit reports on firm-level performance data to Sebi within 60 days from the end of each financial year. They are required to consider all clients' portfolios managed -- clients of both discretionary and non-discretionary portfolio management services -- for the purpose of audit of firm-level performance data. In its circular, the regulator said that the Association of Portfolio Managers in India (APMI), in consultation with Sebi, will specify standardised Terms of Reference (ToR) for the audit of firm-level performance data. The standard ToR will include a requirement for portfolio managers to consider clients' portfolios under all services for the audit of firm-level performance data. However, the performance of adviso

Portfolio created by ChatGPT reports better returns than top funds in UK

The names included in 'top funds' are Terry Smith's Fundsmith Equity, , Fidelity and HSBC

Portfolio, risk manager among highest paid jobs in BFSI sector: Report

Portfolio manager and risk manager were among highest paid job roles in the BFSI sector, which witnessed a 53 per cent growth in job postings during February 2020-2023, according to a report on Thursday. The highest paying job roles in the Banking, Financial Services and Insurance (BFSI) sector were portfolio manager, risk manager and investment banking analyst earning a yearly median salary of Rs 11,50,000, Rs 9,00,000 and Rs 7,00,000, respectively, a report by global job site Indeed said. During the February 2020-2023 period, some of the other job roles that featured in the top 10 list of highest salaries include finance manager, wealth manager and credit manager, it added. The report is based on an analysis on data from Indeed site during February 2020-February 2023. Further, the data revealed that the top five job roles with the highest percentage of job postings are bank officer (11.29 per cent), loan officer (5.27 per cent), financial analyst (4.46 per cent), finance manager

Who is Rajiv Jain, and how he built his $92 billion empire at GQG Partners

Jain's career as a portfolio manager started in 1994 when he joined Vontobel Asset Management

Sebi issues performance benchmarking guidelines for PMS industry

Portfolio managers to adopt an additional layer of broadly defined investment strategies while managing clients' funds

Sebi issues performance benchmarking guidelines for portfolio managers

Sebi on Friday came out with guidelines for portfolio managers pertaining to performance benchmarking, asking them to adopt an additional layer of broadly defined investment "strategies" while managing the clients' funds. Reviewing the requirements related to performance reporting and benchmarking by portfolio managers, the markets regulator said this is in addition to the investment approach (IA) -- the documented investment philosophy -- adopted by portfolio managers while managing the client funds in order to achieve investment objectives. The new framework, aimed at helping investors in assessing the performance of portfolio managers, would be applicable from April 1, 2023. "In addition to the investment approach IA, an additional layer of broadly defined investment themes called "Strategies" shall be adopted by portfolio managers," the Securities and Exchange Board of India (Sebi) said in a circular. These broad strategies would be equity, debt, hybrid and multi-asset. Each I

Sebi suspends Karvy's registration for flouting portfolio managers rule

Market regulator Sebi on Wednesday suspended the registration certificate of Karvy Stock Broking Ltd (PMS Karvy) as a portfolio manager for one month for flouting regulatory norms. In its order, the markets regulator said that Karvy Stock Broking Ltd or PMS Karvy failed to provide certain details in disclosure document, including details of penalties, pending litigation or proceedings and finding of investigation. In addition, the company mentioned contrary provision in its disclosure document and did not maintain uniformity in the condition of notice period mentioned in the model portfolio agreement regarding termination of agreement with clients. Also, it failed to appoint appropriately qualified or experienced principal officer as well as compliance officer and failed to rectify the discrepancies in the auditor's report. Through such acts, PMS Karvy has violated the provisions of portfolio managers rules. Accordingly, Sebi has directed "the suspension of certificate of ...

Sebi warns investors about fake portfolio managers offering assured returns

Even registered portfolio managers cannot offer products with fixed returns, and are not allowed to accept funds or securities worth less than Rs 50 lakh from a client

Markets regulator Sebi rolls out framework for portfolio managers

Markets regulator Sebi on Friday asked portfolio managers to put in place written down policy specifying role and responsibilities of teams engaged in fund as well as risk management with regard to management of client funds and securities. The rule mandates a portfolio manager to segregate each clients' funds and portfolio of securities and keep them separately from his own funds and securities and be responsible for safekeeping of clients' funds and securities. "Portfolio Managers shall put in place a written down policy which inter-alia detail the specific activities, role and responsibilities of various teams engaged in fund management, dealing, compliance, risk management, backoffice, etc., with regard to management of client funds and securities including the order placement, execution of order, trade allocation amongst clients and other related matters," Sebi said. Also, portfolio managers will have to put in place a specific policy, which provide for specific situations (not

Sebi smoothens approval process for change in control of portfolio manager

Under this, the regulator has specified the procedure that needs to be followed by portfolio managers in matters which involve scheme(s) of arrangement which needs sanction of the NCLT

Confusing Sebi rules

Any buy/sell advice, including a model portfolio, should be the domain of research analysts while holistic financial planning and asset allocation should be that of investment advisors

Smallcases make a big splash among young investors: Here's why

Experts flag inadequate regulatory oversight; concentrated and thematic nature of most portfolios makes them riskier bets

PMS client base drops by a fifth in one year despite boom in markets

Experts believe tightening of rules before the pandemic led to decline

BlackRock joins funds betting on rebound of Indian assets amid pandemic

Portfolio managers attempt to navigate India's pandemic by focusing on the nation's long-term growth prospects.

Sebi amends qualification norms for portfolio managers, advisers, analysts

Sebi has notified new regulations for portfolio managers, investment advisers and research analysts with regard to their qualifications

Wish to bet on Dolly Khanna's stocks? Here is how they look on charts

Shares of Nocil and Butterfly Gandhimathi Appliances are seeing buying momentum even in the overbought territory, indicating underlying strength

Portfolio managers must provide disclosure document before agreement: Sebi

Portfolio managers need to provide disclosure document, comprising quantum and manner of payment of fees payable for each activity, to clients before entering into an agreement with them, Sebi said

Portfolio managers cannot impose lock-in for clients' investments: Sebi

"Portfolio managers cannot impose a lock-in on the investment of their clients.However, a portfolio manager can charge applicable exit fees from the client for early exit," Sebi noted