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Portfolio Management Services (PMS) are professional financial services where skilled fund managers manage investment portfolios on behalf of individual investors or institutions. These services offer customized investment strategies that incorporate a mix of asset classes, designed to align with the investor’s financial goals and risk tolerance.
The applicant must be a body corporate.
The applicant should have the necessary infrastructure, including adequate office space, equipment, and manpower to effectively carry out portfolio management activities.
The applicant must appoint a compliance officer.
Principal Officer Qualifications - Experience: Minimum of 5 years in securities market activities (e.g., portfolio management, stock broking, investment advisory, research analysis, fund management). At least 2 years must be in portfolio management or related areas.
NISM Certification: NISM Series XXI-B as specified by SEBI. Renewal of certification is required before expiry for compliance continuity.
Exception: Co-Investment Portfolio Managers can designate a member of the Key Investment Team as the principal officer, bypassing standard requirements if criteria under SEBI (Alternative Investment Funds) Regulations, 2012 are met.
Employ at least one person who has:
Qualifications: Graduation from a recognized university or institution.
Experience: Minimum of 2 years in securities market activities (e.g., portfolio management, stock broking, investment advisory, fund management).
Employees with decision-making authority on fund management must have the same qualifications, experience, and certification as the Principal Officer.
The applicant must meet the net worth requirement of 5 crore rupees or more
Exception: Not applicable to Co-Investment Portfolio Managers.
The applicant must not have been subject to any disciplinary actions by SEBI or related regulations. This includes persons directly or indirectly connected, such as associates or subsidiaries.
The applicant and associated persons (directors, partners, principal officers, compliance officers, relevant employees) should not be involved in litigation related to the securities market that may adversely impact the business.
The applicant and associated individuals must not have been convicted of offences involving moral turpitude or economic crimes.
The applicant must be considered a fit and proper person according to SEBI standards.
The granting of a certificate to the applicant must align with the best interest of investors.
To start the process, complete the application for registration using Form-A for the portfolio manager certificate. Ensure you submit all the necessary documents along with a non-refundable application fee of Rs. 1 lakh through the SEBI Portal.
Note: Although the process is primarily online, SEBI may request a physical copy of the application form if necessary. It is recommended to prepare the form in physical format in advance and send it to the designated SEBI officer when requested.
After submission, allow SEBI some time to review your application and supporting documents. The duration of this review period may vary depending on the number of applications SEBI is currently processing. It’s advisable to monitor your application status regularly.
Following the review, SEBI may take one of two actions:
Request Additional Information : If needed, SEBI may ask for further details or clarification regarding your application. Be prepared to provide any requested information promptly.
Application Qualification : Alternatively, SEBI may determine that your application qualifies for the portfolio manager certificate.
Once SEBI approves your application and deems it suitable for the portfolio manager certificate, you will be required to pay a registration fee of Rs. 10 lakhs to officially obtain the certificate.
The certificate must be renewed every 3 years by paying a renewal fee of Rs. 5 lakhs. Ensure that you renew your certificate on time to maintain your status as a certified portfolio manager.
Offers complete control to the portfolio manager, making it suitable for investors who prefer professional management with minimal involvement.
Involves collaboration between the portfolio manager and the investor, providing enhanced control to the investor while benefiting from professional advice.
Grants the highest level of control to the investor, with the portfolio manager serving as an advisor. This is ideal for experienced investors who want maximum autonomy.
We simplify the licensing process for ease and efficiency.
We manage your entire SEBI registration for credibility.
We understand SEBI regulations thoroughly, ensuring your fund is compliant.
We create key documents to boost investor confidence.
Our attention to detail minimizes errors and speeds up your application.
We handle Form A submissions and SEBI inquiries promptly.
We make the entire setup process efficient, saving you time and stress.
We ensure smooth operations through effective stakeholder collaboration.
We build a strong framework tailored to your needs.
We craft policies designed for your operational requirements.
We’re here for you even after registration, helping you tackle future challenges.
We facilitate audits to maintain high operational standards.
We manage accounting and filings, allowing you to focus on growth.