The Securities and Exchange Board of India (SEBI) has proposed a comprehensive overhaul of the Portfolio Management Services (PMS) framework, including the introduction of a new category of mutual fund-only PMS (MF-PMS). The proposal, outlined in a consultation paper released on Thursday, seeks to broaden the investment universe for portfolio managers while making professionally managed investment solutions more accessible to investors.
Sebi said the new framework could also create fresh business opportunities for portfolio managers and mutual fund distributors.