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Securities and Exchange Board of India, the country’s market regulator, has said any passive breach of concentration norm by Category-III Alternative Investment Funds (AIFs) will have to be rectified within 30 days of the breach. The move is expected to impact investments by hedge funds.
Here is what the funds are.
What are Cat-III AIFs?
Category-III AIFs are funds that use complex trading strategies through investments in listed, unlisted stocks and derivatives. Hedge funds and private investment in public equity (PIPE) funds fall under Cat-III AIF.
What are concentration norms?
Just like mutual funds, the investments made by Cat-III AIFs
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