SEBI vide its circular IMD/DOF-1/PMS/Cir-1/2010 dated March 15, 2010 has revised the formats of the half yearly reports submitted by portfolio managers to SEBI. The new format contains an additional disclosure which requires portfolio managers to disclose the details of the performance of portfolio manager in comparison to any benchmark indices during the period. It should be disclosed individual client wise as well as corporate client wise.
Earlier in January, 2010 SEBI had revised the format of the ‘quarterly report on venture capital activity’ submitted by the venture capital funds (covered in this blog here).
A copy of the circular is available here.
Monday, March 15, 2010
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