Markets regulator Sebi on Friday asked portfolio managers to put in place written down policy specifying role and responsibilities of teams engaged in fund as well as risk management with regard to management of client funds and securities. The rule mandates a portfolio manager to segregate each clients' funds and portfolio of securities and keep them separately from his own funds and securities and be responsible for safekeeping of clients' funds and securities. "Portfolio Managers shall put in place a written down policy which inter-alia detail the specific activities, role and responsibilities of various teams engaged in fund management, dealing, compliance, risk management, backoffice, e
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