Currently, the minimum ticket size for investing in PMS is Rs 25 lakh.
The market regulator also increased the net worth requirement for PMS to Rs 5 crore from Rs 2 crore earlier, giving the existing portfolio managers 36 months to meet the enhanced requirement.
The SEBI board in a meeting today also tightened the norms for default disclosure.
The regulator has set a deadline of 31 days for listed companies to disclose to the stock exchanges with respect to default. It has set January 1, 20 as the effective date for the change in these provisions.