{"id":1416,"date":"2019-11-20T23:52:06","date_gmt":"2019-11-20T23:52:06","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/11\/20\/sebi-hikes-portfolio-management-scheme-limit-to-rs-50-lakh-networth-requirement-to-rs-5-cr\/"},"modified":"2019-11-20T23:52:06","modified_gmt":"2019-11-20T23:52:06","slug":"sebi-hikes-portfolio-management-scheme-limit-to-rs-50-lakh-networth-requirement-to-rs-5-cr","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/11\/20\/sebi-hikes-portfolio-management-scheme-limit-to-rs-50-lakh-networth-requirement-to-rs-5-cr\/","title":{"rendered":"Sebi hikes portfolio management scheme limit to Rs 50 lakh, networth requirement to Rs 5 cr"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1770486\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/11\/cats-964.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/cats-964.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/cats-964-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/cats-964-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/cats-964-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1770486\" src=\"https:\/\/images.financialexpress.com\/2019\/11\/cats-964.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/cats-964.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/cats-964-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/cats-964-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/cats-964-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">The Sebi board has approved amendment the Sebi (Portfolio Managers) Regulations, which will enhance the eligibility criteria and define the role of principal officer clearly.<\/span><\/figure>\n<\/div>\n<p>With a view to keep retail investors away from portfolio management schemes (PMS), Sebi on Wednesday decided to raise the minimum investment amount of clients for such schemes to Rs 50 lakh from the earlier Rs 25 lakh. Besides, it has decided to increase the networth requirement of portfolio managers to Rs 5 crore from 2 crore, Sebi Chairman Ajay Tyagi told reporters after the board meeting. He further said the existing portfolio managers will have to meet the enhanced requirement within 36 months.<\/p>\n<p>PMS offers investors a range of specialised investment strategies to capitalise on opportunities in the market and made suitable to the needs of individual clients. The Sebi board has approved amendment the Sebi (Portfolio Managers) Regulations, which will enhance the eligibility criteria and define the role of principal officer clearly. Under the new norms, a portfolio manager needs to mandatorily employ minimum one person with defined eligibility criteria in addition to principal and compliance officer. \u201cMinimum investment by clients of portfolio managers to be increased from the 25 lakh to Rs 50 lakh. Existing investments of clients may continue as such till end date of PMS agreement or as specified by the board,\u201d Sebi said.<\/p>\n<p>The regulator further said discretionary portfolio managers will invest only in listed securities, money market instruments and mutual funds, while non discretionary managers will have to invest not more than 25 per cent of their assets under management in unlisted securities. The appointment of custodian will be mandatory for all portfolio managers, except for those providing only advisory services to clients. \u201cHiking the investment limit for PMS from Rs 25 lakhs to Rs 50 lakhs is a bit restrictive.<\/p>\n<p>Many potential investors are likely to be denied the benefits of PMS,\u201d said V K Vijaykumar, Chief Investment Strategist at <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/geojit-financial-services-ltd-stock-price\/\" rel=\"noopener noreferrer\">Geojit Financial Services<\/a>.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The Sebi board has approved amendment the Sebi (Portfolio Managers) Regulations, which will enhance the eligibility criteria and define the role of principal officer clearly. With a view to keep retail investors away from portfolio management schemes (PMS), Sebi on Wednesday decided to raise the minimum investment amount of clients for such schemes to [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1416"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1417"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}