What is the ₹25-lakh PRIM route introduced by SEBI for mutual funds?

SEBI has approved Portfolio Managers Route for Investing in Mutual Fund Units (PRIM), allowing portfolio managers to invest clients' money in direct plans of mutual funds, including ETFs, index funds and Specialised Investment Funds (SIFs). PRIM allows investors to access professionally managed mutual fund portfolios through PMS framework. The framework requires a minimum investment of ₹25 lakh.