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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Management and advisory services by AMCs to Foreign Portfolio Investors

06-Jan-2023 | SEBI/HO/IMD/IMD-POD1/P/CIR/2023/005

SEBI vide Circular No. SEBI/HO/IMD/DF2/CIR/P/2019/155 dated December 16, 2019 had specified the categories of Foreign Portfolio Investors (FPIs), to which the AMCs may provide management and advisory services in terms of Regulation 24(b) of SEBI (Mutual Funds) Regulations, 1996.
Accordingly, AMCs may provide management and advisory services to FPIs operating from International Financial Services Centres (IFSC) and regulated by International Financial Services Centres Authority (IFSCA) and falling under the categories specified in the aforementioned SEBI circular.
Now, it has been decided that AMCs may also provide management and advisory services to FPIs operating from IFSC and regulated by IFSCA, not falling under the categories of FPIs specified under para 2(i) of SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2019/155 dated December 16, 2019, subject to the conditions as specified in the annexure.

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