Sebi's mutual fund-only PMS proposal is a game-changer for advisers, but compliance barriers loom
Last Update Date: 05-10-2026
Published by Mint
Abhishek Kumar's role: Quoted
Abhishek Kumar pointed out that running a PMS would likely mean more compliance work than the RIA model, since PMS managers handle client money directly and must report to SEBI in more detail.
More of Abhishek's views on mutual funds
The article looks at SEBI's proposed PMS category that invests only in mutual funds, with a ₹25 lakh minimum, built on direct plans. It explains how this could ease fee collection for investment advisers, and why heavy compliance and the required net worth may deter smaller advisers.
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Sebi's mutual fund-only PMS proposal is a game-changer for advisers, but compliance barriers loom