Sebi revises format of monthly reports submitted by portfolio managers

Regulator Sebi on Friday revised the format of monthly reports submitted by portfolio managers, with an aim to broaden the information obtained under such filings. In the revised format released on Friday, Sebi has added certain sections for disclosure. Portfolio managers would now have to specify the types of services offered -- discretionary, non-discretionary and advisory service.

Regulator Sebi on Friday revised the format of monthly reports submitted by portfolio managers, with an aim to broaden the information obtained under such filings. Portfolio managers are mandated to submit a monthly report regarding their portfolio management activity on Sebi intermediaries' portal within seven working days of the end of each month in a format specified by the regulator. In the revised format released on Friday, Sebi has added certain sections for disclosure. Portfolio managers would now have to specify the types of services offered -- discretionary, non-discretionary and advisory service. Besides, they would have to make disclosures regarding funds inflow/outflow under the data for discretionary and non-discretionary services, among others. The new format will be applicable for ''monthly reports submitted for January 2021 onwards,'' the markets watchdog said.