Sebi notifies PMS rules; broadens investment avenue for portfolio managers, introduces PRIM route

What happened: Sebi notified the (Portfolio Managers) Regulations, 2026, replacing the 2020 framework and broadening investment avenues for portfolio managers, including a new PRIM route for mutual fund units. Key numbers: Effective April 1, 2027. PRIM minimum investment threshold Rs 25 lakh. Why it matters: The framework lets portfolio managers invest in foreign securities, unlisted securities, and exchange-traded derivatives, and allows up to 100 per cent of assets under management of large value accredited investors in unlisted securities with disclosures.

Sebi notified the (Portfolio Managers) Regulations, 2026, replacing the 2020 framework and broadening investment avenues for portfolio managers, including a new PRIM route for mutual fund units.

The framework lets portfolio managers invest in foreign securities, unlisted securities, and exchange-traded derivatives, and allows up to 100 per cent of assets under management of large value accredited investors in unlisted securities with disclosures.