Portfolio managers must register with SEBI under the SEBI (Portfolio Managers) Regulations, 2020. Applicants need prescribed net worth, a principal officer and compliance officer meeting qualification and experience requirements, NISM certifications and adequate infrastructure. Clients must invest at least Rs 50 lakh, and PMS providers follow strict reporting and fee disclosure rules.
Eligibility
- Company or LLP
- Net worth as prescribed
- Qualified principal officer
- NISM certified staff
Process
- Prepare documents and policies.
- Apply online to SEBI.
- Queries and inspection.
- Registration.
Compliance
Client agreements, custody, periodic reports, audits and performance disclosure.
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Get expert help →Types of PMS
Discretionary, non-discretionary and advisory.
Frequently asked questions
Can an individual be a portfolio manager?
Registration is for body corporates such as companies and LLPs.
Is a custodian mandatory?
Yes, as per the regulations for client assets.
How are PMS fees regulated?
Fee structures must be disclosed, with rules on performance fees.
PMS vs AIF?
PMS manages individual accounts; AIFs pool money.
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