Page 3 - Aif

Market regulator Sebi tweaks rule for onboarding investors in AIFs

Capital markets regulator Sebi on Friday tweaked the framework for on-boarding investors by Alternative Investment Funds (AIFs). This came in view of amendments to the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005. The Regulation 10(a) of AIF norms laid down the criteria for on-boarding investors whereby AIFs are allowed to garner funds from any type of investor -- Indian, foreign, or non-resident Indians -- through the issuance of units. However, when on-boarding investors, the AIF manager must ensure that the investor or its beneficial owner is not listed in the sanctions list by the United Nations Security Council, Sebi said in its circular on Friday. Additionally, the investor should not be a resident in a country identified by the Financial Action Task Force (FATF) as having strategic anti-money laundering or combating the financing of terrorism deficiencies, subject to countermeasures, or a jurisdiction making insufficient progress in addressing these ..

Piramal Enterprises to adjust Rs 3,164 cr exposure to AIF in its financials

Move follows RBI directive limiting investments in AIFs to curb evergreening

'Sebi, RBI share concern about some credit funds masking bad loans'

Private credit funds fall under the broad category of AIFs for the purpose of regulations in India

Market regulator Sebi mulls tweaks to help AIFs buy stressed assets

The RBI had communicated to Sebi a list of requirements in the framework including SSFs in its master directions

Vijay Shekhar Sharma launches AIF with target corpus of Rs 30 crore

Paytm Founder and CEO Vijay Shekhar Sharma on Monday announced the launch of VSS Investments Fund for his private investments, with a total target corpus of Rs 30 crore. The total size of the Sebi-approved AIF scheme is Rs 20 crore with a green shoe option of Rs 10 crore, making the total corpus of Rs 30 crore, Sharma said in a statement. The fund will target artificial intelligence and electric vehicles related startups that are incubated in India and specially focused to serve Indian consumers and businesses, the statement said. "The Indian startup ecosystem has some of the brightest entrepreneurs in the world, and we have the potential to become a powerhouse of advanced technology and AI-driven innovations. The launch of this fund is a continuation of my belief in supporting young and promising Indian founders, aligned with the fact that technology has a huge role to play in the development of the country," Sharma said. The various follow-on investments of Sharma's current start

Vivriti Asset Management receives $200 million in three credit funds

Vivriti Asset Management (VAM) on Monday said it has received USD 200 million (about Rs 1,664 crore) in commitments in three alternate investment funds. VAM said the commitments have been raised for three credit funds, including Vivriti Wealth Optimizer Fund, Vivriti Emerging Corporate Bond Fund, and Vivriti Alpha Debt Fund - Enhanced. Under Diversified Bond Funds (DBF), VAM has invested over Rs 1,400 crore since January 2022 in 40 investees in sectors such as airports, clean energy, road construction, fertiliser manufacturing, thermal energy, financial services, logistics, software services and managed offices, as per an official statement. To date, the company has raised commitments of over USD 450 million, the statement said. The investments have supported the growth of these businesses, with end-use tied to capital expenditure, working capital improvement, product development, and last-mile contribution to infrastructure projects, it said. There are 570 contributors to the ...

Market regulator Sebi slams AIF industry for circumvention of regulations

Sebi official did not disclose how widespread such practices are or whether the regulator has already begun enforcement action against them

Mutual funds, AIFs required to seek authorisation for each scheme: IFSCA

As of March 31, there were a total 50 schemes being offered by fund management entities

Exemption from angel tax and forex limits at GIFT: Regulatory panel

Allow to raise capital through SPACs and listing on offshore exchanges

AIFs find sweet spot in private credit with change in taxation of debt MFs

Unfulfilled credit demand in riskier segments, lack of high-yielding options create opportunities

AIF industry seeks clarity on liquidation scheme for unsold investments

Industry feels there's ambiguity over applicability for funds which have exhausted the one-year period

Sebi rolls out approach for valuation of AIFs for liquidation schemes

Markets regulator Sebi on Thursday came out with a standard approach for valuing the investment portfolio of Alternate Investment Funds (AIFs) along with modalities for launching liquidation schemes, a move that will benefit investors. In addition, all schemes of AIFs will have to be issued in dematerialised (demat) form, the Securities and Exchange Board of India (Sebi) said in three separate circulars. Existing AIFs with a corpus of more than Rs 500 crore and any new AIFs are required to dematerialise their units by October 31, 2023, and after this, issuance of units will be done in demat form. Other AIFs with a corpus of less than or equal to Rs 500 crore are required to dematerialise their units by April 30 next year. Under the standardised approach to valuation, Sebi said that portfolio valuation of securities would be carried out as per guidelines endorsed by the AIF industry association. Presently, AIF Regulations focus on disclosures to investors and do not prescribe any ..

PE funds investment in warehousing saw 45% rise in 2022, shows data

This comes when total leasing of warehousing space in India increased from 51.3 million square feet in 2022-23, compared to 51.2 mn sq ft in 2021-22

Infrastructure AIFs in slow mode despite a govt push for new roads, ports

Commitments to such funds have grown significantly slower than overall AIF commitments

Markets regulator mulls prohibiting differential treatment to AIF investors

Markets regulator Sebi on Wednesday proposed that AIF (alternative investment fund) investors should not be given any differential treatment, which affects the economic rights of other investors. In addition, the regulator is looking to provide clarity on the pro-rata rights of investors in an AIF scheme. AIF is a privately pooled investment vehicle, which collects funds from investors, for investing under a defined investment policy for the benefit of its investors. In its consultation paper, Sebi suggested that no differential rights should be provided to investors of the AIF/scheme, which would affect the economic rights of other investors. However, this should not apply in case of differential rights provided on terms with respect to the hurdle rate of return, performance-linked fee/additional return and management fee. With respect to the pro-rata rights of investors, the regulator recommended that the rights of each investor should be maintained at pro-rata to their commitmen

Crisil launches three new AIF benchmarks to gauge performance

With this Crisil has 10 benchmarks across the three AIF categories

Sebi codifies 'excuse-exclude' norms used by AIFs for managing portfolios

Move to help curb cherry-picking of deals by LPs, manage conflict of interest

Sebi to AIFs: Offer direct plans; introduces trail model for commissions

New norms to curb mis-selling, bring parity on upfront commissions that are already barred in MFs, PMS

AIF applications pile up due to rejig at Sebi, even as regulator turns wary

Longer-than-expected wait time leads to delay in fund launches

Govt evaluating measures to bring down tax burden on PE/VCs in India

It is expected to be introduced in Parliament's monsoon session