Sebi approves proposal to relax REIT, portfolio manager norms
To make it easier for foreign fund managers keen to relocate to India, markets regulator Sebi's board approved a proposal to allow them to act as 'Portfolio Managers' under a relaxed regulatory regime. The markets regulator also decided to relax its norms to allow these Real Estate Investment Trusts to invest more in under-construction assets and have a larger number of sponsors.
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