Markets regulator Sebi on Monday proposed allowing asset management companies (AMCs) or their subsidiaries to offer additional services related to fund management, such as acting as Points of Presence (POP) for pension schemes and serving as global distributors for the funds they manage or advise.
Presently, AMCs and their subsidiaries are only allowed to provide services which are in the nature of management and advisory of pooled funds.
On Points of Presence (POP) for pension funds, Sebi proposed that subsidiaries of AMCs registered as pension fund managers may be allowed to offer POP services and receive compensation as permitted by PFRDA, according to its consultation paper.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
