Market regulator Sebi has allowed fund managers to manage both domestic and overseas money across all their activities, including mutual funds, offshore and portfolio management service. Last year, the regulator, while allowing asset management companies to share back-end resources, had said they should appoint separate fund managers for each separate fund they manage unless the investment objectives and asset allocations were the same and the portfolio was replicated across all the funds managed by the fund manager. "It has been represented to Sebi that the perfect replication of portfolio between the mutual fund scheme and products under other permissible activities of Asset Management Company (AMC) may not be achieved at all times," the regulator said in a circular on Tuesday.
Source: Economic Times
No comments:
Post a Comment