Sebi releases framework for advisory, portfolio management services

The Securities and Exchange Board of India (Sebi) on Tuesday came up with a  framework pertaining to fees for investment advisory services for accredited investors. Also, the capital markets regulator put in place guidelines on exit load charges applicable to the client of the portfolio manager.

Sebi in August introduced the concept of ‘accredited investor’ in investment advisors (IA) and portfolio manager rules. In a circular, the regulator said in the case of accredited investors, the limits and mode of fees payable to the IA will be governed through bilaterally negotiated contractual terms. In the case of large-value accredited investors, the