Portfolio managers are advised to resume work from office: APMI

This follows the meeting of members of APMI (current Board of Directors and Principal Officers of APMI) with SEBI last week. Talking about this, Rashim Bagga, Principal Officer, Portfolio Managers Association in India said, “Among many other discussions, the exercise of enabling ‘Work from Home’ (WFH) as a COVID-19 protocol came to the fore during the discussion. came. SEBI). Keeping in view the recently reported developments in the mutual fund industry, the implications of continuing WFH for key functions of the PMS industry such as investing, dealing, operating, compliance and risk management were also discussed in detail.”

After discussions with SEBI, APMI advised all registered portfolio managers to instruct their employees to resume work from the offices. “Additionally, the flexibility given to employees handling critical functions such as investment, dealing, operations, compliance and risk management, etc., can be taken back from home. It should be implemented at the earliest, but not later than June 10, 2022.”

In addition, all individual PMS firms are advised and expected to continue to follow the COVID-19 protocols to safeguard the health of their employees.

Through this advisory, the Principal Officer of APMI also requested the Portfolio Managers to complete the APMI membership process. According to Bagga, APMI was formed, to enable organized communication from regulator to industry and vice versa, for representation of industry and its stakeholders with various government and regulatory agencies and for standardization of basic practices. Similar was created for an industry body. Fund should be set up in India.

The core group involved in the exercise included representatives from some of the country’s largest portfolio managers such as UTI, ASK, Motilal Oswal, White Oak, Invesco, Marcellus, NJ, Abacus, HDFC, Kotak and Aquitas, who together manage most of the We do. industry property.