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The regulatory body also proposes to reduce the ticket size for INvITs to Rs.25 lakh.

The market regulator has allowed PMS companies to obtain digital note along with signature on declaration which require them to say that they have understood the fee and charges associated with PMS.

APMI will issue guidelines for PMS distributors by July 1, 2024.

SBI, UTI and Darashaw & Company are the top three players in PMS.

Cat III AIFs can only invest in liquid mutual funds.

With this, AIFs will not be required to create a segregated portfolio.

While REITs are not classified as debt or equity, many investors consider REITs to be hybrid products.

It will predominantly invest in a few focused themes or sectors, where structural transformation is underway.

Small and medium REITs commonly known as fractional commercial real estate investment will have minimum ticket size of Rs.10 lakh.

While individual investors account for 38% of the total AIF AUM, NRIs contribute 6% to the total asset base of AIFs.

Dhanvesttor Secures receives SEBI license to offer PMS services.

SEBI has also proposed simplification of digital onboarding process of new clients.

However, the proportion of AIF assets through distributors has reduced by 15% in 5 years largely due to the shift in business model of wealth managers.

SEBI has found 40 instances where AIFs circumvented RBI and FEMA norms.

Manish will lead and manage Centrum’s portfolio management services (PMS) and non-discretionary equity advisory verticals.