SEBI in its latest consultation paper has proposed the introduction of a new asset class/ product category aimed at bridging the gap between Mutual Funds and Portfolio Management Services (PMS) in terms of flexibility in portfolio construction.
The proposed New Asset Class seeks to provide investors with a regulated investment product featuring higher risk-taking capabilities and a higher ticket size, aimed at curbing the proliferation of unregistered and unauthorized investment products.
Do check out our Z-connect post by @Satya_Sontanam as she simplifies the consultation paper for all of us 
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