The Securities and Exchange Board of India (SEBI) on January 06, 2023, issued the Management and advisory services by AMCs to Foreign Portfolio Investors.
The following has been stated namely: -
• AMCs may also provide management and advisory services to FPIs operating from IFSC and regulated by IFSCA, not falling under the specified categories of FPIs subject to the following conditions:
1. Such FPI shall be allowed to invest in mutual fund schemes other than the schemes in the category of “thematic”
2. For investment inequity and equity derivative securities listed on recognized stock exchanges in India, such FPI shall not take contra-position for a period of six months from the date of purchase or sale of such securities.
[Notification No. SEBI/HO/IMD/IMD-POD1/P/CIR/2023/005]
