AIFs take digital turn as across-table deals go out of fashion due to Covid

Multiple firms look to skip physical meetings, documentation while acquiring clients

Investment funds for the very rich, which traditionally garnered money sitting across the table from their clients, are increasingly shedding their old-style approach.

Alternative investment funds (AIFs) are going a hundred per cent digital in client onboarding, unusual for an industry more used to face-to-face interactions. At least three major asset managers are in the process of, or have already put in place digital protocols. This would allow very large investments to be made without the need for any physical component to the process. The minimum investment in such funds is Rs 1 crore.

Players pushing hard on digital include