The Securities and Exchange Board of India (SEBI) on September 26, 2022 has issued Modification in the Operational Guidelines for FPIs, DDPs and EFIs pertaining to FPIs registered under Multiple Investment Managers (MIM) structure.
The following has been stated namely: -
• Reference is drawn to circular IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 under the SEBI (Foreign Portfolio Investors), Regulations 2019, which was issued in this regard.
The following has been amended namely: -
1. Para 4 of Part A of the Original Guidelines has been substituted with the following:
“Where an entity engages multiple investment managers (MIM) for managing its investments, the entity can obtain multiple FPI registrations mentioning name of Investment Manager for each such registration. Such applicants can appoint different DDPs for each such registration. Investments made under such multiple registrations shall be clubbed for the purposes of monitoring of investment limits.”
[Notification No. AFD/ P/ CIR/ 2022/ 125]
