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The Securities Exchange Board of India gave direction to investment managers of alternative investment funds that they need to register as portfolio managers to provide management services to an offshore fund.
Ace Lansdowne Investments Services LLP has asked SEBI to clarify whether an entity already acting as the manager of AIF has the authority to provide services to the offshore funds or whether it is mandatory to get registered as a portfolio manager.
All entities that deal with offshore funds must register under PMS regulations: SEBI
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