The Securities and Exchange Board of India (Sebi) hiked the minimum investment level under portfolio management schemes to Rs 25 lakh from the current level of Rs 5 lakh.
The board decided to amend the Sebi (portfolio managers) regulations, 1993 to give effect "to enhance the minimum investment amount per client from Rs 5 lakh to Rs 25 lakh.
The amendment also ensures segregation of holdings in individual demat accounts in respect of unlisted securities.
The regulator also decided to relax investment norms by waiving the six-month lock-in period for insurance companies and mutual funds participating in preferential allotment of shares.
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Monday, January 30, 2012
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