New Investment Avenue- Why Sebi’s new asset class makes sense
The markets regulator has proposed a new product category to bridge the gap between mutual funds and portfolio management schemes. Saikat Neogi explains how the proposed higher ticket size products will work.
What has Sebi proposed?
IN A MOVE to curtail investments by rich individuals in unregistered investment schemes, the Securities and Exchange Board of India (Sebi) has proposed to introduce a product category which will combine features of mutual funds (MF) and portfolio management schemes (PMS). The Sebi consultative paper says the products will be offered by asset management companies and fund managers will have greater flexibility in portfolio construction.
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