The regulator said the review has been done due the rapid expansion of the PMS industry, where AUM (assets under management) has multiplied to ₹42.61 lakh crore as of May 2026 from ₹18.07 lakh crore in April 2019. "Considering the increasing sophistication of investors, growing demand for more personalised solutions and diverse investment portfolio, a need was felt to review the PM (portfolio manager) Regulations," Sebi said in a discussion paper on Thursday.

India's markets regulator is looking to simplify compliance requirements for portfolio managers, aiming to broaden investment options to encompass overseas securities and unlisted…

SEBI aims to ease compliance norms and expand investment options for portfolio managers, enhancing flexibility in managing client funds under a revised regulatory framework.