General responsibilities of a Portfolio Manager

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..... of the client, in a manner which does not partake character of a Mutual Fund, whereas the non-discretionary portfolio manager shall manage the funds in accordance with the directions of the client. (2) The portfolio manager shall not accept from the client, funds or securities worth less than fifty lakh rupees: Provided that the minimum investment amount per client shall be applicable for new clie .....

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..... ) The portfolio manager shall segregate each client s holding in securities in separate accounts. (5) The portfolio manager shall keep the funds of all clients in a separate account to be maintained by it in a Scheduled Commercial Bank. Explanation . ─ For the purposes of this sub-regulation, the expression Scheduled Commercial Bank means any bank included in the Second Schedule to the Reser .....

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..... n or entity involved in the distribution of its services is carrying out the distribution activities in compliance with these regulations and circulars issued thereunder from time to time. ************* NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/31 dated 03-08-2021 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/58 dated 09-11-2021 w.e.f. 09-12-2021 - - statute, statut .....

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