Aif

A fifth of AIF investments questionable in terms of intent: Sebi official

Whole-time member Ananth Narayan calls for adopting accredited investor model

AIFs seek tax passthrough to compete with emerging 'new asset class'

Plan to make representation to finance ministry, Sebi for level playing field

Aditya Birla Sun Life AMC plans AIF expansion with private credit schemes

The AMC expects the private credit segment to grow to $3.5 trillion by 2028 in India

Sebi specifies checks for AIFs to curb circumvention and ever-greening

Due diligence has been mandated for schemes where investors from the same group contribute 50 per cent or more to the corpus before availing the benefits of QIB status

Golden Growth Fund to raise Rs 400 cr to build realty projects in Delhi

Golden Growth Fund, which is a real estate focused Alternative Investment Fund (AIF), plans to raise Rs 400 crore from investors to buy land and develop real estate projects in the national capital. In a statement, Golden Growth Fund, a Category 2 AIF, said it has successfully secured Rs 25 crore in the first funding round, which concluded last month. "This initial capital infusion will be used to acquire a prime land parcel in South Delhi," it said. The acquisition is the first project under its strategic plan to develop high-end residential properties in the region. Grovy India Ltd, which has completed over 100 real estate developments in Delhi, will construct this project. "This first closing of the fund is a significant step forward in our mission to transform the luxury real estate landscape in Delhi. "Our commitment to acquiring and developing premium land parcels in South Delhi is now being realized, and we anticipate that our ongoing funding efforts will further solidify o

How do Indian family offices invest money? Decoding their asset allocation

Allocations to Mutual Funds, PMS, AIFs, and Gold are anticipated to see modest increases, while Fixed Income and Physical Real Estate are likely to experience a decrease.

Sebi releases guidelines for market borrowing by Category I, II AIFs

Capital markets regulator Sebi on Monday came out with guidelines for borrowing by Category I and Category II alternative investment funds (AIFs), along with the maximum permissible limit for extension of tenure by Large Value Fund for Accredited Investors (LVFs). Under the rule, Category I and II AIFs are not allowed to borrow or use leverage for investments, except in limited cases for temporary needs. These AIFs are allowed to borrow funds to address temporary funding needs or manage day-to-day operational expenses, with specific limitations. Such borrowing is permitted for up to 30 days, can occur no more than four times in a calendar year, and must not exceed 10 per cent of the investable funds. To facilitate ease of doing business and provide operational flexibility, Sebi has allowed Category I and Category II AIFs to borrow for the purpose of meeting temporary shortfall in amount called from investors for making investments in investee companies ('drawdown amount'), accordin

Quest Investment Advisors plans to raise Rs 700 crore, launches AIF

Quest Investment Advisors on Monday announced the launch of its Rs 700 crore new open-ended Category III Alternative Investment Fund (AIF). The Quest Smart Alpha Sector Rotation Series II follows the success of their previous AIF, the Quest Smart Alpha - Sector Rotation, which raised approximately Rs 500 crore since its inception in May 2022, Quest Investment said in a statement. Speaking on the launch of the new fund, Rajkumar Singhal, CEO, Quest Investment said, For over 17 years, our endeavour has always been to provide differentiated ideas to our investors which capture the evolving listed equity market.

Sebi's new rules specify max limit for large value funds' tenure extension

Markets regulator Sebi has amended alternative investment funds (AIF) norms specifying maximum permissible limit for extension of tenure by 'Large Value Funds'. In a notification, Sebi said a large value fund for accredited investors may be permitted to extend its tenure up to five years. This is subject to the approval of two-thirds of the unit holders by value of their investment in the large value fund for accredited investors. The extension in tenure of any existing scheme of a large value fund for accredited investors will be subject to such conditions as specified by the regulator. The move is aimed at providing clarity to investors in Large Value Funds for Accredited Investors (LVFs) about their investment horizon. Large Value Fund (LVF) for accredited investors means an AIF or scheme of an AIF in which each investor (other than the manager, sponsor, employees or directors of the AIF or employees or directors of the manager) is an accredited investor and invests at least Rs

Budget 2024: PMS firms rethink strategy after increase in STCG tax

Churn in holdings will attract higher tax; no-pass through advantage like MFs, AIFs

Sebi sets new filing requirements for AIFs opting for dissolution period

Markets regulator Sebi on Tuesday issued a circular outlining the filing requirements for alternative investment funds (AIFs) schemes that opt for a dissolution period to deal with their unliquidated investments. The move aims to provide flexibility to AIFs and their investors in managing such investments that are not sold due to lack of liquidity. In its circular, Securities and Exchange Board of India (Sebi) said AIF schemes entering into dissolution period must file an information memorandum with it through a merchant banker before expiry of the liquidation period or additional liquidation period of the scheme. The format for this information memorandum and the due diligence certificate to be submitted by the merchant banker. As per Sebi's AIF rules, the information memorandum must include details such as the name of the AIF, registration number, the names of its trustees or directors, the scheme's name, and financial details related to unliquidated investments. In addition, fo

Board meeting: Sebi tweak AIF valuations, investment advisor norms

Changes to MF overseas investment framework, ESG disclosures also on the cards at Thursday's board meet

Govt seeks exemption for sovereign funds from RBI's AIF rules: Official

The rules, tightened to prevent evergreening of loans, were partially eased later in March

AIF investments top Rs 4 trillion, commitments cross Rs 11 trillion

Biggest deployment made in real estate sector followed by IT and financials

RBI's notification on partly paid AIF units puts industry in a bind

Move to help regularise units issued to FPIs amid concerns on fee outgo

Sebi proposes changes in IPEV capital valuation guidelines for AIFs

As per current guidelines, they were required to provide the data to performance benchmarking agencies within six months of the end of the financial year

Certification for AIF manager's investment team mandatory, says Sebi

Capital markets regulator Sebi has amended rules making it mandatory for at least one key personnel within an investment team of an Alternative Investment Fund (AIF) manager to obtain requisite certification. The new requirement is aimed at boosting competency and professionalism in the AIF space. In a notification dated May 10, Sebi said, "At least one key personnel, amongst the associated persons functioning in the key investment team of the Manager of an Alternative Investment Fund, shall obtain certification from the National Institute of Securities Market (NISM) by passing the NISM Series-XIX-C." To give this effect, the Securities and Exchange Board of India (Sebi) has amended AIF rules. The new rules have been made applicable from the same date. Through this requirement of certification for key personnel, the capital markets regulator is looking to ensure a higher proficiency in managing AIFs. Last month, Sebi announced that certain changes in the private placement memorand

AIFs must comply with certification requirement by May 2025: Sebi

All alternative investment funds (AIF) with active schemes and those with pending scheme applications as on May 10 must comply with relevant certification requirement by May next year, markets regulator Sebi said on Monday. "The requirement of obtaining the certification will be complied with on or before May 9, 2025, for the existing schemes of AIFs and, schemes of AIFs whose application for launch of scheme pending with Sebi as on May 10, 2024," the Securities and Exchange Board of India (Sebi) said in a circular. Further, the regulator said the trustee/sponsor of AIFs, will ensure that the 'Compliance Test Report' prepared by the manager includes compliance with the provisions of the rules. The new requirement is aimed at boosting competency and professionalism in the AIF space. In a notification dated May 10, Sebi said, "At least one key personnel, amongst the associated persons functioning in the key investment team of the manager of an Alternative Investment Fund, shall obtai

Piramal Enterprises Q4 results: PAT at Rs 137 cr on AIF provisions reversal

The company had posted a loss of Rs 2,378 crore in the December quarter when it had set aside Rs 3,540 crore for such provisions

Sebi asks AIFs to report PPM changes directly to reduce compliance cost

To facilitate ease of doing business, Sebi on Monday said certain changes in the private placement memorandum of alternative investment funds can be submitted directly to the regulator rather than through a merchant banker. The move would also rationalise the cost of compliance for alternative investment funds (AIFs). The new framework would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. The regulator said that certain changes carried out in the Private Placement Memorandum (PPM) are not required to be filed through merchant bankers and can be filed directly to the regulator. These included changes in the size of the fund, information related to affiliates, commitment period, key investment team of the manager and key management personnel of AIF, and reduction in expense or fee or cost charged to fund/investors. Additionally, changes in contact details of AIF, sponsor, manager, trustee or custodian, auditor, RTA, legal