About Us
Association Of Portfolio Managers In India - APMI
Charter
Board of Directors - Current
Board of Directors - Previous Years
Members of APMI Working Committees
Evolution of APMI - Year 2022
Evolution of APMI - Year 2023
Evolution of APMI - Year 2024
Evolution of APMI - Going Forward
CIRCULARS
SEBI Circulars
PMS Regulation + Master Circular + PMS Manual
PMS Regulation - 2020
Master Circular for Portfolio Managers - 16th July'25
SEBI PMS Manual
FAQ-28th Oct'20
Guidelines for PMS Regulations - 13th Feb'20
SAAS - 3rd November'20
SEBI PMS Regulation Amendment- 22nd Aug'22
Related Party Circular- 26th Aug'22
Dealing Team- 30th Sept'22
Performance Benchmarking- 16th Dec'22
Change in Control of Portfolio Managers providing Co-Investment Services - 10th Jan'23
Cyber Security- 29th Mar'23
ODR- Online Disputes Resolution- 31st July'23
Audit of firm level performance- 3rd Aug'23
SCORES- Redressal of Investor Grievances - 20th Sept'23
Centralized mechanism for reporting the demise of an investor through KRAs - 3rd Oct'23
Master Circular on KYC Norms for the Securities Market - 12th Oct'23
Extension of timeline for 20th Sept. Circular- 1st Dec'23
Centralization of certifications under FATCA and CRS at KRAs- 20th Feb'24
Clarifications on CSCRF for SEBI Regulated Entities - 30th April'25
Facilitating collective oversight of Distributors for PMS through APMI-2nd May'24
Facilitating ease in digital on-boarding process for clients and enhancing transparency - 2nd May'24
Norms for sharing of real time price data to third parties- 24th May'24
Cybersecurity and Cyber Resilience Framework for SEBI Regulated Entities- 20th August'24
Clarifications on CSCRF for SEBI Regulated Entities-31st Dec'24
Details/Clarifications on provisions related to Association of Persons
Extension of Timelines for submission of Offsite Data
Adoption of UPI IDs for Paymemnt Collection - 11th June'25
Rights of Persons with Disabilities Act, 2016 - 31st July'25
Extension of Timelines - Digital Accessibility Circular - 29th Aug'25
Format of Disclosure Document of Portfolio Managers - 9th Sept'25
Compliance Guidelines for Digital Accessibility Circular - 25th Sept'25
Transfer of PMS Business- 24th Oct'25
Clarification on the Digital Accessibility circulars of SEBI- 8th Dec'25
Relaxation on geo tagging requirement in India for NRIs while undertaking re-KYC- 10th Dec'25
Ease of Doing Investment (EoDI) - 26th Feb'26
Guidelines for Custodians- 4th March'26
Extension of timelines with respect to compliance of Digital Accessibility Circulars-31st July,26
Communication from SEBI
Manual for uploading Repots on SI Portal
Indicative Infra Requirements of a PMS
Reply from SEBI on queries of APMI on Benchmarking Circular-29th March'23
Escalation Matrix for Issues on SI Portal-28th Nov'23
Generic Mail IDs of SEBI-8th Dec'23
Letter from SEBI - Project PARAS-18th Feb'24
Entities Persons WhatsApp Telegram groups impersonating as Registered PMs-15th April'24
Cybercrime Report alongwith TRAI Directions - 11th May'24
Rights of Persons with Diasbilities along with Writ Petition-29th May'24
Guidelines for sending Commercial Communications-31st May'24
SEBI Communication on Secondary Benchmarks-3rd Oct'24
Industry Standards Recognition Manual-12th Feb'25
Clarification Regarding SEBI Circular dated 2nd May'24-9th April'25
Portfolio Managers using exaggerated advertisements on their Website-10th June'25
At Valid Standard Operating Procedure - 6th Aug'25
Implementation of Structured UPI Address - 16th Sept'25
Vigilance Awareness Week 2025 - 14th Oct'25
SEBI Consultation Papers
Ease of Doing Business-15th Feb'24
Performance Validation Agency
Consultation Paper on Consolidated Cybersecurity and Cyber Resilience Framework (CSCRF)
CONSULTATION PAPER ON INTRODUCTION OF NEW ASSET CLASS/PRODUCT CATEGORY
Consultation Paper on proposed amendments to the SEBI (Prohibition of Insider Trading) Regulations,
Consultation Paper on Review of Regulatory Framework for IA & RA
Consultation Paper on Substituting Attestation with Self Attestation
Consultation Paper on Draft Circular for Safe and Efficient Transfers on UPI
Consultation Paper on extending certain flexibilities under accreditation framework
Consultation Paper on Review of Regulation 24
Consultation Paper on Comprehensive Review of SEBI (Portfolio Managers) Regulations, 2020
Consultation Paper on review of Accredited Investor framework
SEBI Board Meetings
18th June'25
12th Sept'25
17th Dec'25
23rd Mar'26
19th June'26
APMI Circulars and Guidelines
APMI Circular 1 & 2- Benchmarking, Valuation & Related Communications
APMI Circular 1 - Valuation - 23rd March'23
APMI Circular 2 - Benchmarking -23rd Mar'23
Revised Benchmarks - Annexure 1 - 31st March'23
Reply from SEBI on queries of APMI on Benchmarking Circular
Index under Hybrid and Multi Asset Strategy - 5th May'23
APMI-Important Communication-15th May'23
Update on Index under Hybrid Startegy-11th Aug'23
Secondary Benchmarks- Oct'24
APMI-SOP for change in Benchmark
APMI Circular 3 - FAQ's on SEBI Circular dated 30th Sept'22
APMI Circular 4 - APMI - NISM Applicability -24th Apr'23
APMI Circular 5 - APMI - Distributor Brokerage -26th Apr'23
APMI Circular 6- Reporting of Performance (BSE 500 TRI) -28th Apr'23
APMI Circular 7- APMI- Time Period -04th May'23
APMI Circular:8 -APMI Membership Register -30th June'23
APMI Circular 9 - APMI ToR for Audit of Firm Level Performance Data - 28th Sept'23
APMI Circular 10 - Formats of Annual Compliance Reports - 12th Oct'23
APMI Circular 11 - Submissions by APMI vide SEBI Circular dated 2nd May'24
FAQ's on APMI Circular Number 11
FAQ- II on APMI Circular Number 11
Guidelines for Change in APRN Code and Transfer of AUM-11th Nov'25
Best Practise for Inflow and Outflow of Funds and Securities- 3rd February'26
SOP on Digital Onboarding- Version 2- 18th February'26
Communication from APMI
Reply from SEBI on queries of APMI on Benchmarking Circular
APMI-Important Communication-15th May'23
Index under Hybrid and Multi Asset Strategy - 5th May'23
APMI-Flagging of Demat Accounts-30th May'23
Update on Index under Hybrid Startegy-11th Aug'23
Submission of Compliance Reports trough SEBI Intermediary Portal-23rd Oct'23
Clarification regarding Clause 2.7.3 of Master Circular related to Dealing Room-28th Dec'23
Guidance Note for FATCA & CRS
Submission by APMI on new Asset Class Product Category
APMI Communication on Secondary Benchmarks
APMI- Update on SEBI CSCRF Circular
Guidance on Distributor Compliance and APRN
Clarification Note- Indicative Infra Requirement of a PMS
List of Dealing Officers in SEBI
List of Empanelled Web Accessibility Auditors - 4th Feb'25
APMI-Important Communication-29th March'25
APMI-Important Communication-9th April'25
Note on Pending Distributor Registration Renewal Cases
Help Document on Adoption of UPI IDs for Payment - 11th June'25
Note on APRN Cancellation Utility-3rd July 2025
FAQ on Adoption of Standardised, Validated and Exclusive UPI IDs for Payment - 17th Sept 25
Clarification Note on Transfer of PMS Business by Portfolio Managers
Further Clarification on Transfer of PMS Business by Portfolio Managers
Final Common SOP for Centralised Demise Information-March'26
Research and benchmark of global best practices for Portfolio Management Services by APMI
Details and Reports available for APMI Members
APMI COMPLIANCE SUTRA- CMM QUERIES
IMPORTANT
PARAS
Letter from SEBI - Project PARAS
Letter from SEBI-CMM
Letter from SEBI- CMM- 28.07.25
Important Update-PARAS-Mail 1
Important Update-PARAS-Mail 2
Important Update-PARAS-Mail 3
Important Update-PARAS-Mail 4
Important Update-PARAS-Mail 5
Steps for accessing the PARAS Portal
PARAS USER MANUAL
Guidance Video - Alert Module
Guidance Video- CMM Module
Consolidated Cybersecurity and Cyber Resilience Framework (CSCRF)
Help Document on SEBI CSCRF Circular
Consultation Paper on CSCRF
Cyber Security-29th March'23
Circular - CSCRF - 20th Aug'24
Compliance Sutra- Sept'24- CSCRF for SEBI Regulated Entities Part I
Webinar by NISM-SEBI Circular on CSCRF-1
Compliance Sutra- Sept'24- CSCRF for SEBI Regulated Entities Part 2
Update-SEBI CSCRF Circular dated 20th Aug'24
Webinar with BSE on M-SOC
Compliance Sutra- Dec'24-Relevance and importance of Cyber Security- I
Compliance Sutra- Dec'24-Relevance and importance of Cyber Security- II
Action Requested - FAQ on CSCRF
Open House Discussion on SEBI CSCRF
Media Release and Circular issued by BSE and NSE
Webinar by NISM - SEBI Circular on CSCRF- 2
Presentation - CSCRF
Compliance Sutra- Feb'25- M-SOC Services by BSE
MSOC- BSE- BLUESAPPHIRE- PPT
Webinar by Aujas - SEBI Circular on CSCRF
Webinar by NISM - SEBI Circular on CSCRF- 3
MSOC- NSE- AUJAS- PPT
Contact details of M-SOC Teams
APMI-Important-CSCRF
Clarifications on CSCRF for SEBI Regulated Entities-31st Dec'24
Clarifications on CSCRF for SEBI Regulated Entities - 30th April'25
Extension towards Adoption of CSCRF - 28th March 2025
FAQs on CSCRF Policies templates provided by APMI
Webinar by NISM- SEBI Circular on CSCRF- 04
Webinar by NISM-SEBI Circular on CSCRF-05
FAQ's on CSCRF
Extension towards Adoption of CSCRF- 30 June' 2025
APMI-Important-CSCRF-5th August'25
Technical Specifications to CSCRF for REs - 28th Aug'25
FICCI
APMI Registration Certificate
Help Tab for New Portfolio Managers
Registration of Portfolio Manager & Post- Registration Activity
Co-Investment PM under SEBI (PM) Regulations, 2020 and Circulars
Help Menu for Offsite Inspection Data
List of Custodians & Reg. No.
Help Video for getting complete XML from XLS
How to get complete XML from XLS when records are more than 65,536 ?
XML Template Definition- Offsite Inspection cum Surveillance of PMS- Version 5.5
XML Template Definition - Offsite Inspection cum Surveillance of PMS - Version 6.0
1 - Clarification wrt ODS
2 - FAQ from Custodians
3 - Contact Points
4-User Guide & Videos
5 - Schedule of Help Meetings
Help Note on Offsite Data Submission- Oct'24
Help Tab on BUDS
1. Letter from CERSAI- 12th Jan'24
2. Communication from APMI- 21st Feb'24
3. Letter from CERSAI dated 27th Sept'24
4. Communication from APMI- 8th Oct'24
5. Communication from APMI- 4th Dec'24
6. Letter from CERSAI dated 3rd Dec'24
7. Webinar on Buds dated 9th April 2025
Pre requisite for Deposit Taker
User Manual - BUDS Registry
User Manual - Deposit Taker Registration
APMI-Distributor Registration
Master Document for Distributor Registration
Fee Structure
Communication- 21st January'26
Communication- 13th March'26
Help Video on Submission of DSC
PMS DISTRIBUTION TERMS & CONDITIONS
Compliance Sutra
Compliance Sutra - Important Disclosures to Members
Compliance Sutra - Process and Details
Compliance Sutra Summary
Compliance Sutra 2023-2024
Compliance Sutra - Calendar for Sept'23
Compliance Sutra - Calendar for Oct'23
Compliance Sutra - Calendar for Nov'23
Compliance Sutra - Calendar for Dec'23
Compliance Sutra - Calendar for Jan'24
Compliance Sutra - Calendar for Feb'24
Compliance Sutra - Calendar for March'24
Compliance Sutra 2024-2025
Compliance Sutra - Calendar for April'24
Compliance Sutra - Calendar for May'24
Compliance Sutra - Calendar for June'24
Compliance Sutra - Calendar for July'24
Compliance Sutra - Calendar for August'24
Compliance Sutra - Calendar for September'24
Compliance Sutra - Calendar for October'24
Compliance Sutra - Calendar for November'24
Compliance Sutra - Calendar for December'24
Compliance Sutra - Calendar for January'25
Compliance Sutra - Calendar For February'25
Compliance Sutra - Calendar for March'25
Compliance Sutra 2025-2026
Compliance Sutra - Calendar for April'25
Compliance Sutra - Calendar for May'25
Compliance Sutra - Calendar for June'25
Compliance Sutra - Calendar for July'25
Compliance Sutra - Calendar for Aug'25
Compliance Sutra - Calendar for Sept'25
Compliance Sutra - Calendar for Nov'25
Compliance Sutra - Calendar for Dec'25
Compliance Sutra - Calendar for January'26
Compliance Sutra - Calendar for February'26
Compliance Sutra - Calendar for March'26
Compliance Sutra 2026-2027
Compliance Sutra- Calendar for April'26
Compliance Sutra- Calendar for May'26
Compliance Sutra- Calendar for June'26
Compliance Sutra- Calendar for July'26
Governance & Constitution
APMI MEMBERS as on 30th July'26
APMI MEMBERS as on 30th June'26
APMI MEMBERS as on 30th May'26
APMI MEMBERS as on 30th April'26
Board of Directors
Members of APMI Working Committees
Holiday List - 2024
Holiday List - 2025
Holiday List - 2026
For FY 2021-2022
APMI- 1st Annual Report-FY 2021-2022
Chairmans Statement & Scrutinizers Report- 2022
For FY 2022-2023
APMI- 2nd Annual Report FY 2022-2023
Chairman's Statement & Scrutinizers Report -2023
Reconstitution of the BOD
For FY 2023-2024
APMI- 3rd Annual Report FY 2023-2024
Chairman's Statement & Scrutnizers report for AGM 2024
Notice on Reconstitution of APMI Board & Committees- 3rd July 2023
APMI Board- Nominations & Elections- FY- 23-24
For FY 2024-2025
APMI- 4th Annual Report FY 2024- 2025
Chairman's Statement & Scrutinizer's Report for AGM 2025
Chairman's Statement & Scrutinizers Report for EGM
Notice for the 1st EGM on 31st August'24
APMI- Note on Re-constitution of APMI Board for FY 24-25
APMI Board- Nomination & Elections- FY 24-25
For FY 2025-2026
Chairman's Statement & Scrutinizer Report for AGM 2026
APMI Annual Report 2025-2026
APMI-Note on Re-constitution of APMI Board for FY 25-26
Closure of APMI Membership Regsiter for FY 25-26
For FY 2026-2027
Closure of APMI Membership Register for FY 26-27
APMI-Note on Re-constitution of Board for FY 2026-27
Invitations
APMI Conference 2026_Ahmedabad
Invitation for Tuesday 20th June'23
Invitation for Thursday 27th April'23
APMI Members Meet- Thursday 13th April'23
Invitation for Friday 23rd December'22
TRAI - Digital Consent Acquisition & Related
Contact Details of Nodal Officers from TSPs
FAQs
TRAI Directions - 16th February'23
Directions to curb misuse of Headers and Content Templates - 12th May'23
Directions towards Digital Consent Acquisition - 2nd June'23
Telecom Intelligence Report - 'Abuse of SMS Headers' - 18th April'24
Guidelines for sending Commercial Communications - 31st May'24
TRAI Directions - 13th August'24
TRAI Directions - 20th August'24
TRAI Directions- 28th October'24
TRAI Directions - 7th April'25
Press Release No 133 of 2025 - 18th November'25
TRAI Directions - 18th November'25
TRAI Directions - 19th November'25
TRAI Press Release- 19th November'25
NISM
NISM-Letter of Arrangement
NISM - XXI-A for Distributors
Applicability & Important Dates for NISM XXI A & B
Guidance NISM XXIA
SEBI Notification for NISM Series XXI-A-PMS-Distributors
SEBI Notification for NISM Series XXI-B-Portfolio-Managers
APMI-Training and Development
Capsule on Cyber Security
Capsule on PMS Operations
Capsule on PMS Sales
Training Partners (Additional)
Training Partners
Workbook for NISM XXIA (14th Nov'23)
Portal Help
Steps for Monthly Reports Upload
Steps for uploading Client breakup details
Steps for Query Management
Member Dashboard
Surveys executed in FY 2022-23
IT Infrastructure & Procedures
1st Survey for 30th September,22 Circular
2nd Survey for 30th September,22 Circular
3rd Survey for 30th September,22 Circular
4th Survey for 30th September,22 Circular
Supervisory Risk assessment
Survey - Direct Investor Complaints
Surveys executed in FY 2023-24
5th Survey for 30th Sept'22 Circular - 04th May'23
Online Dispute Resolution (ODR) Survey
6th Survey for 30th Sept'22 Circular - 02nd June'23
Cyber Security- Urgent
Survey on Flagging of Demat Accounts
Consolidated Cybersecurity and Cyber Resilience Framework (CSCRF)
APMI- Survey on SEBI Intermediary Portal
Digital Client Onboarding
APMI- Client Count Data
APMI- Survey on Ease of Doing Business
2nd Survey on SEBI Intermediary Portal
Update on NISM XXI-B
7th Survey for 30th Sept'22 Circular - 08th Sept'23
Survey - Active Business Period of Portfolio Managers
Survey on Simplification, Ease of Compliance and Reduction in Cost of Compliance
Survey - Offsite Inspection Data
Survey - Cyber Security - Status as on 30th September 2023
Survey - Cyber Security - Status as on 29th May 2023 and 31st July 2023
India-Oman FTA Services Negotiation
Survey - Preparation for Submission of Offsite Data
Survey - Details of Deposit Takers required by CERSAI
Survey - Unique Mail ID for SCORES 2.0
Surveys executed in FY 2024-25
Survey-Number of Clients and AUM Data
Survey - Accredited Investors and Investment in Unlisted Securities
Survey-Display of Information on APMI website
Information related to Custodians
Surveys executed in FY 2025-26
Details of Social Media Handles and Websites - 13th June'25
APMI - Information Request - 22nd Aug'25
Submission on SEBI Circular dated 31st July'25 - Disabilities Act - 5th Sept'25
Request for Data-Advisory Services under PMS - 12th Sept'25
Update and Data Request - Disabilities Act - 12th Sept'25
FAQs and Feedback Link on SEBI Circular Dated 11th June'25 - 17th Sept'25
Data Request- AML Practice- 4th Dec'25
Industry Feedback on Review of SEBI Portfolio Managers Regulations- 24th Dec'25
Data Request- Limited participation of PMS in the Exchange Traded Commodity Derivatives- 31st Dec'25
Information Request - SI Portal 2.0_12th Jan'26
Global Benchmarking Survey on PMS Industry_7th Feb'26
Surveys executed in FY 2026-27
Request for Comments on Corporate Laws (Amendment Bill) 2026
APMI_ Information Request_AUM & Fee Details
Request for Details of Mobile Applications
Request for Details- SOC Deployment by Portfolio Managers
Industry AUM
PMS Industry Aum
Non EPFO/PF AUM
FY 25-26: AUM & Client Count Data-PMS Level
FY 24-25: AUM & Client Count Data-PMS Level
FY 23-24: AUM & Client Count Data- PMS Level
Membership Details
APMI Membership Benefits Note (2026-27)
APMI Membership Benefits Note (2025-26)
APMI Membership Benefits Note (2024-25)
APMI Membership FY 26-27
APMI Membership FY 25-26
APMI Membership FY 24-25
APMI Membership FY 23-24
APMI Membership FY 22-23
APMI Refund Policy
APMI Bank Account Details
Report
APMI Insights
IA Performance report
IA Turnover report
IA Comparison report
Consolidated IA Performance Report
APRN Holder Details
Industry Speaks
#IndustrySpeaks
APMI Journey
APMI Initiatives - 45 Steps in 45 Months
PMS Industry Compendium
June 2026
May 2026
April 2026
March 2026
February 2026
January 2026
December 2025
November 2025
October 2025
September 2025
August 2025
July 2025
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APMI
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