Page 2 - Aif

Sebi fines IAGF, trustee and managers ₹29 lakh for AIF rule breaches

Capital markets regulator Sebi has imposed penalties totalling Rs 29 lakh on six entities, including India Asset Growth Fund, its manager Essel Finance Advisors and Managers, and trustee Vistra ITCL (India) for multiple violations of AIF rules. The regulator levied a fine of Rs 11 lakh on IAGF, Rs 10 lakh on Arpan Sarkar and Jaykishan Kikani (jointly and severally), Rs 6 lakh on Vistra ITCL (India), and Rs 2 lakh on Essel Finance Advisors and Managers (EFAM), its Chief Executive Officer Vishnu Prakash Rathore (jointly and severally). The regulator, in a 39-page order, found the entities guilty of serious lapses in regulatory compliance during the inspection period from April 2021 to March 2022, Sebi said in the order on Friday. The markets watchdog observed that India Asset Growth Fund (IAGF) failed to disclose disciplinary actions and litigation history of its sponsor, manager, trustee, and key officials in its placement memorandum (PPM), as mandated under the norms. Later, the fu

Smallcaps offer Alpha; midcaps look expensive: PGIM India's Aniruddha Naha

Market outlook: Amid the ongoing conflict in West Asia, surging crude oil prices could pose risk to India's economic stability, Smallcaps preferred over midcaps: PGIM

AIF investments rise 32% to ₹5.38 trillion by March 2025, shows data

Rising volatility and evolving macro trends are driving HNIs to invest more in AIFs, which reached ₹5.38 trillion by March 2025, as they move beyond traditional asset classes

Expand loan facility to Primary Agricultural Credit Societies: Amit Shah

Union Cooperation Minister Amit Shah on Monday called for immediate action to expand the loan facility to Primary Agricultural Credit Societies (PACS), under the Agriculture Infrastructure Fund (AIF), to improve their financial condition. Reviewing the scheme to build the world's largest cooperative food grain storage network, Shah emphasised the extensive involvement of PACS in the food storage scheme. "It is necessary to make PACS an integral part of this scheme so that the financial viability and social effectiveness of PACS can be ensured," he said. Shah directed the Ministry of Food and Public Distribution and Food Corporation of India (FCI) to conduct national-level mapping of warehouses across the country, so that the implementation of the scheme can be done smoothly as per regional requirements, according to an official statement. The minister also instructed FCI, National Cooperative Consumers' Federation (NCCF), National Agricultural Cooperative Marketing Federation (NAFE

IVCA asks VCFs to act on Sebi circular, migrate to AIF regime by July 19

IVCA has urged all legacy VCFs, especially those who are holding residual assets, to immediately evaluate their eligibility and apply to SEBI for migration before the due date

RBI proposes relaxation in norms for investment in AIFs by banks, NBFCs

The RBI has proposed capping investment by regulated entities in AIF schemes at 15%, with a 10% ceiling per entity, while also allowing exemptions for strategic funds

AIFs push to flip the switch on regulatory static to ease fund flows

Operational noise disrupts capital flow; industry demands an inter-regulatory bridge

High Net-Worth Investors may soon get easier access to exclusive AIF deals

Securities and Exchange Board of India (Sebi) has sought public comments till May 30 on the proposals.

Finideas Growth Fund, 3 others pay Rs 12.75 lakh to settle case with Sebi

Sebi observed that Finideas Growth Fund, an AIF, exceeded the permissible investment cap of 10% of its net investable funds in a single company between May 31, 2023, and July 31, 2023

Investcorp Real Estate, 6 others settle AIF rule violation case with Sebi

Investcorp Real Estate Yield Fund and six others have settled with markets regulator Sebi a case of flouting Alternate Investment Funds (AIF) rules on payment of Rs 25.5 lakh towards settlement amount. Apart from Investcorp Real Estate Yield Fund, Investcorp India Asset Managers, Ajay Kumar, Niraj Sirsalewal, Ritesh Vohra, Gaurav Sharma and IDBI Trusteeship Services Ltd have settled the case. The order came after the entities filed applications proposing to settle the proceedings that may be initiated against them for the violation of the provisions of the AIF Regulations, through a settlement order and remitted Rs 25.50 lakh. In its settlement order passed on Friday, Sebi said the "specified proceedings, in respect of which the notice was issued, are hereby settled in respect of the applicants". While examining the matter, Sebi observed that the tenure of the Investcorp Real Estate Yield Fund had been extended beyond 2 years and that its investments had not been liquidated within

IFSCA considers greater flexibility for co-investment opportunities

Proposes allowing creation of special purpose vehicles by fund management entities

With IPO hopes high, AIFs inclining towards late-stage startups: Report

Of the total investments by value, 39 per cent in FY24 went into late-stage startups, compared to only 18 per cent in FY14

AIFs seek specific funds from govt for new-age, sunrise, deep-tech startups

Alternate investment funds (AIFs) have sought from the government specific funds for investments in new-age, sunrise and deep-tech startups with a view to promote innovation in the country, an official said. They have also urged the government to announce a fresh round of funds under the Fund of Funds for Startups (FFS) scheme. These demands were raised during a meeting between AIFs and the officials of the Department for Promotion of Industry and Internal Trade (DPIIT) here last week. The department held discussions with AIFs on ways to promote funding for startups in the country, the official said. "In the meeting AIFs demanded more funds under FFS. They demanded an increase in the duration of FFS from the existing 12 years," the official added. At present FFS is sector agnostic. The AIFs have suggested specific funds for the sunrise and new-age sectors. Issues like capital mobilisation and promoting funding for startups in smaller cities were also discussed during the meeting.

DPIIT officials meet AIFs to promote capital mobilisation for startups

The meeting saw the participation of more than 70 AIFs, with discussions focused on capital mobilisation and promoting funding for startups in smaller cities

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.