Industry body requests removal of 25 per cent limit for IFSC-based retail funds' investment in unlisted assets
The Dutch bank's deal comes as European lenders seek to diversify their revenues by bulking up in areas such as wealth management and private banking
To facilitate ease of doing business, markets regulator Sebi on Friday allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector. The regulator has also provided additional flexibility to AIFs and their investors to deal with unliquidated investments of their schemes. "Category I and Category II AIFs may create an encumbrance on equity of investee company, which is in the business of development, operation or management of projects in any of the infrastructure sub-sectors," Sebi said in a circular. The move will provide ease of doing business and flexibility to such AIFs. Experts believe that allowing AIFs to create an encumbrance on their equity investments in infrastructure sector companies for the purpose of project finance is essential for infrastructure development. Earlier, pledging of securities held by an AIF in investee companies for loans availed of by the investee companies violates provisions of the AIF ...
The expiry of derivatives contracts also added to the volatility
RBI said that its regulated entities (REs) will now be required to make provisioning only to the extent of the amount invested by the AIF scheme in the debtor company and not the entire investment
The NFO (New Fund Offering) is an open-ended Category III Alternative Investment Fund, aiming to raise Rs 3000 crore with approx. Rs 1,000 crore over the next 6 months.
ASK Hedge Solutions on Monday said it is targeting to raise Rs 3,000 crore corpus from wealthy individuals and family offices in the next 18 months for its alternative investment fund. The ASKAbsolute Return Fund is an open-ended category-III alternative investment fund (AIF), which will be seeking to raise the money from high networth individuals, ultra HNIs, family offices and corporate treasuries, the company's chief executive officer Vaibhav Sanghavi told reporters here. Over the past decade or so, the nascent long-short platform has delivered returns of 10-15 per cent from a compounded annual growth rate perspective, Sanghavi said. He said the current fund will be targeted purely at domestic investors, but the next one of a similar strategy will open it for foreign investors as well. The newly launched fund has already received commitments of Rs 50 crore, and the company is targeting to take it to Rs 1,000 crore in six months. When asked about market regulator Sebi's concerns
Saudi Arabia's crown prince transferred another 8% of shares in the kingdom's oil giant Saudi Aramco to the country's prominent sovereign wealth fund on Thursday. The shares are worth some $160 billion. Crown Prince Mohammed bin Salman's decision comes as the kingdom is trying to build a series of megaprojects and invest in sports and other fields aggressively abroad to wean the country off of relying solely on oil. The country's sovereign wealth fund known as the Public Investment Fund, or PIF, has been a key element of Mohammed's plans, known as Saudi Vision 2030. The transfer of part of the state's shares in Saudi Aramco is a continuation of Saudi Arabia's long-term initiatives to boost and diversify the national economy and expand investment opportunities in line with Saudi Vision 2030, a statement announcing the deal said. The transfer will also solidify PIF's strong financial position and credit rating. The statement said the kingdom's ownership in Aramco would now be 82.186%
SIDBI chairman S Ramann on Friday said that the Fund of Funds for Start-ups (FFS) has committed Rs 9,500 crore for the promotion of new ventures in the country. The FFS was unveiled by the Prime Minister on January 16, 2016, in line with the Start-up India Action Plan. It has approved a corpus of Rs 10,000 crore for contribution to various Alternative Investment Funds (AIFs) registered with SEBI. Introduced with a focused objective of supporting development and growth of innovation-driven enterprises, FFS facilitates funding needs for start-ups through participation in the capital of SEBI-registered Alternative Investment Funds. The commitment of Rs 9500 crore has led to over 100 AIFs raising Rs 56,000 crore more, he said at TiEcon Delhi 2024 conference here. "It's really a staggering figure. The ability of all of you (AIFs) to go out and bring in that kind of money from your foreign Limited Partners (LPs) convince the Indians to become LPs," he said. Observing that AIFs space is
Along with a code of conduct, Sebi is working to define the specifics of what constitutes circumvention
QIBs are essentially institutional investors such as mutual funds, foreign portfolio investors (FPIs) and AIFs. They have separate quotas in initial public offerings (IPOs) and offer for sales (OFS)
SBPL, without registration, even offered advisory services and portfolio management services with assured returns in the range of 18 to 48 per cent, it was alleged
Higher risk weights on unsecured loans deplete capital
For the first time, Sebi has identified the amount found under circumventions which stands over Rs 30,000 crore. The regulator has not yet completed its thematic inspections
Though the minimum investment for AIFs is Rs 1 crore, two-thirds of the total investors have committed to a higher ticket denomination of Rs 5 crore or more
Both long-short funds and long-only funds gave lower returns than Nifty, Sensex
Industry is awaiting certain relaxations or extensions based on their recommendations
The investment commitments are usually received in tranches from investors by the fund managers and are reflected in the total funds raised
Capital markets regulator on Monday put in place guidelines for Alternative Investment Funds (AIFs) pertaining to holding their investments in dematerialised form along with the appointment of custodian. Under the latest guidelines, AIFs are required to hold their investments in dematerialised form, unless exempted by Sebi. The new framework, effective from October 1, 2024, mandates that any investment made by an AIF after this date must be held in dematerialised form, Sebi said in a circular. However, investments made before this date have been exempted except in cases where the investee company is legally required to facilitate dematerialisation or when the AIF, alone or with other Sebi registered entities, has control over the investee company. Sebi also said investments made before October 1, 2024, falling under these two conditions mentioned must be dematerialised by January 31, 2025. Further, there are exemptions for AIF schemes with tenures ending on or before January 31, 2
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 ..