Sebi notifies PMS rules; broadens investment avenue for portfolio managers, introduces PRIM route
Economic Times 1 hr ago·13 Oct 2026, 10:58 am
Sebi has introduced a new framework for Portfolio Management Services (PMS) that will become effective from April 1, 2027. This update expands the scope of what portfolio managers can invest in, allowing them to access the primary market for IPOs and debt instruments, as well as a wider range of overseas securities. Additionally, the regulator has introduced a new 'PRIM' route, which enables portfolio managers to invest directly in mutual fund units for their clients.
For investors, this move is significant as it provides a more flexible and direct route to access the primary market and overseas assets. The new advisory services for unlisted securities also offer large investors more options for wealth management. However, the rule is set to be implemented two years from now, giving the industry time to adapt to the new guidelines.
Investors should monitor how portfolio managers utilize these new avenues to generate returns. The introduction of the PRIM route could lead to more competitive offerings in the PMS space, potentially benefiting clients. As the implementation date approaches, it will be important to see how this framework shapes the investment strategies of portfolio managers.
Excerpt from Economic Times
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