Sebi nod to 103 alternative funds

Securities and Exchange Board of India (Sebi) has allowed as many as 103 entities to set up Alternative Investment Funds (AIFs) - a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds - in less than two years. Of the total registered AIFs, 13 entities got the regulator's approval to operate in the country so far this year as against 67 in 2013 and 22 in 2011.

The AIFs that have registered included ICICI Prudential Debt Fund, Touchstone Trust and Lares Alpha Scheme. The regulator had notified in May 2012 the guidelines for this new class of market intermediaries. AIFs had started registering with Sebi from July 2012 and 103 AIFs have been allowed to set up shop in the country.