SEBI announces a revised framework for portfolio management services (PMS), making changes that expand what portfolio managers can invest in and adjust compliance requirements. The update allows portfolio managers to take certain exposure to initial public offerings (IPOs) and to invest in foreign securities, alongside updated limits for exchange-traded funds (ETFs).
Under the revised rules, portfolio managers can invest in ETFs up to 1.25 times clients’ assets under management (AUM). The regulator also eases some compliance norms for PMS providers, though the details of how specific obligations change are not the same across all reporting.
Across the sources provided, the central points are consistent: the rules overhaul permits greater investment flexibility—specifically including IPO bets and foreign securities—while also introducing a defined ETF leverage/position limit linked to clients’ AUM and reducing certain compliance burdens. The reporting does not include differing figures or timelines beyond these main elements.
