Sebi may create new asset class – Times of India

NEW DELHI: Sebi is looking to create a new asset class – which lies between mutual funds and portfolio management services (PMS) – and the new product can cater to high-risk investors, its chief Madhabi Puri Buch said.
The Sebi chief said there is a spectrum of asset classes for investors. Of these, “mutual funds are the highly retail investors, then you have in between a PMS and then you have AIF (alternative investment fund) for private equity”.
“We feel there is room for an additional asset class somewhere between mutual funds and PMS…Sebi is looking into a whole new asset class,” Buch said.

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