SEBI issues performance reporting & benchmarking norms for Portfolio Managers
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- Last Updated on 19 December, 2022
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Circular no. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172, Dated 16.12.2022
The SEBI has issued norms for portfolio managers pertaining to performance reporting and benchmarking. Now, an additional layer of broadly defined investment themes called ‘strategies’ shall be adopted by portfolio managers while managing the clients’ funds. These broad strategies shall be ‘Equity, Debt, Hybrid and Multi Asset’.
This is in addition to the investment approach (IA), the documented investment philosophy to be adopted by portfolio managers. Further, the Board of portfolio managers shall be responsible for ensuring the appropriate selection of strategy and benchmark for each IA. Also, the circular shall be applicable from 01.01.2023.
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