Mumbai, December 18: The market regulator, Securities and Exchange Board of India (Sebi) recently has given permission to the asset management companies (AMCs) to extend the management and advisory services to the regulated foreign portfolio investors (FPIs). “AMCs may provide management and advisory services in terms of Regulation 24(b) of MF Regulations to FPIs falling under the categories of FPIs as specified in FPI Regulations,” read the circular. This may also includes the FPI’s categories that are appropriately regulated entities such as pension funds, insurance, banks and mutual funds.