SEBI mandates new format for portfolio manager disclosures
SEBI just announced a new, more user-friendly format for portfolio manager disclosures recently.
The fresh structure splits info into two parts: one with the basics that rarely change (like what services are offered and key risks), and another with updates on things like performance stats and client representation.
The goal? Make it way easier for investors to actually understand what they're signing up for.
Key changes in the disclosure process
Portfolio managers now need to start each topic on a new page, and only updated pages require sign-off from an independent Chartered Accountant.
Whenever there's a change, those pages have to be shared with clients, posted online, and sent to SEBI within a week.
It's all about keeping things clear, current, and transparent—without making everyone drown in paperwork.