SEBI is reviewing rules to allow Services (PMS) to invest in overseas markets and unlisted securities, aiming to diversify investment options for wealthy investors.
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Potential new assets
⏳ Time Machine
How today’s news fits into the bigger picture
2017
Mutual Fund Shift
Regulatory changes permitted easier international diversification for mutual funds, setting a precedent for expansion.
2023
PMS Growth
The assets under management in the PMS category hit record highs, highlighting the need for more product flexibility.
July 23, 2026
Rule Review
SEBI formally signaled a review of overseas and unlisted security restrictions to broaden PMS capabilities.
Today
SEBI is reviewing rules to permit PMS to invest overseas.
What happens next?
Expect a formal draft circular setting specific asset-allocation limits within the next few months.
The Securities and Exchange Board of India (SEBI) is actively considering a refresh of its Portfolio Management Services (PMS) framework. The proposed changes aim to permit portfolio managers to invest in overseas markets and assets that are yet to be listed. This move is designed to provide high-net-worth investors with a broader range of diversification options beyond the local stock market. As the Indian financial sector matures, regulators are increasingly looking at ways to allow for more sophisticated investment products that align with global benchmarks. If approved, this would represent a significant step toward integrating domestic wealth management with global asset classes, potentially reducing the domestic 'home-bias' that currently characterizes many investment portfolios.
💭 If you're wondering…
Portfolio Management Service is a customized investment service offered by professional managers to high-net-worth clients, which until now has been mostly limited to listed Indian shares.
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Official sources
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