Managers of Alternative Investment Funds (AIFs) can offer co-investment services to clients through the portfolio management route, SEBI said in a circular on Friday.
Co-investment is an offering where AIF clients are also provided portfolio management services.
According to the circular, AIFs can provide the PMS service only after informing SEBI.
"A manager of an AIF who is also a SEBI registered portfolio manager, and intends to offer co-investment services through portfolio management route, shall do so only under prior intimation to SEBI," the circular noted.
AIF managers who are not registered with SEBI as a portfolio manager will have to get the registration done before offering co-investment services, SEBI said.
Change in reporting format
SEBI has issued a new format for monthly reporting by portfolio managers. The regulator has added a few new fields and removed some. You can take a look at the new format here.
The quarterly reporting format to clients has also been changed to incorporate details of co-investment offered by the PMS. You can take a look at the new format here.
The new reporting formats will come into effect from April 2022.
