Alternative investment funds tell Sebi: One exam doesn't fit all

Push for a category split in certification as clock ticks down

With the May 9 deadline approaching, alternative investment funds (AIFs) are requesting relaxations to the Securities and Exchange Board of India (Sebi)-mandated certification for fund managers.

 

Industry sources reveal that while an extension on the compliance deadline is being sought, there are also discussions about potentially separating the certification examinations based on various AIF categories.

 

According to regulations introduced last May, at least one key member of an AIF’s investment team must pass the NISM (National Institute of Securities Markets) Series-XIX-C: Alternative Investment Fund Managers Certification Examination. The compliance deadline for existing AIF schemes is May 9, and the exam