SEBI has proposed a major revamp of the Portfolio Management Services (PMS) framework, including the launch of a new mutual fund-only PMS (MF-PMS) category. The proposal aims to widen investment options for portfolio managers, improve investor access to professionally managed portfolios, and create new business opportunities for PMS providers and mutual fund distributors.

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

SEBI proposes a major overhaul of Portfolio Managers Regulations, expanding investment options and simplifying compliance for the PMS industry.

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…