Page 4 - Alternative Investment Funds

Fund of Funds commits Rs 9,500 crore for startups, says Sidbi chairman

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

AIFs' actual investment at 65% of commitments: Sebi WTM Ananth Narayan

Along with a code of conduct, Sebi is working to define the specifics of what constitutes circumvention

Alternative investment fund route to obtain 'QIB' status may get tough

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)

Sebi bars Shares Bazaar Alternative Investment Fund from raising funds

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

Private bank profits see impact of alternate investment fund provisions

Higher risk weights on unsecured loans deplete capital

Over Rs 30,000 crore AIF investments found circumventing norms: Sebi

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

Individual investors' share in AIF commitments at 40%, shows data

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

AIF returns trailed market in Dec, close-ended schemes see median return

Both long-short funds and long-only funds gave lower returns than Nifty, Sensex

Lenders retain AIF holdings even as Reserve Bank of India deadline nears

Industry is awaiting certain relaxations or extensions based on their recommendations

AIF commitments cross Rs 9.5 trillion till September 2023, shows data

The investment commitments are usually received in tranches from investors by the fund managers and are reflected in the total funds raised

Sebi introduces guidelines for AIFs on holding investment in demat form

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

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 ..

Indiabulls HFC may have to provide Rs 1,000 cr for AIF investments impact

Indiabulls' Assets Under Management (AUM) stood at Rs 63,569 crore as of September 30, 2023, comprising Housing Loans (72%), Loan Against Properties (15%), and commercial credit (13%)

Govt's crackdown on alternative investment funds puts industry on watch

The top seven shadow lenders in the country had invested around $1.35 billion in these so-called AIFs, according to their most recent annual reports

Markets fall amidst profit booking, Covid concerns; sensex down 931 points

Profit booking after the good run was cited as the primary reason for the market rout

RBI issues advisory to banks, financial cos to curb evergreening via AIFs

According to the RBI advisory, banks, NBFCs, and other financial institutions like Nabard and Sidbi will not be able to make investments in any scheme of AIFs which has downstream investments

Sebi extends deadline for AIFs dematerialisation till January 31

Sebi has specified the process to be followed in cases where the investors have yet to provide the demat account details to AIFs

Theme for a dream: Why thematic funds are gaining traction in the market

In contrast, the largecap category has witnes­sed net outflows of Rs 2,894 crore in this period

Sebi specifies process to follow for dematerialising units of AIFs

Capital markets regulator Sebi on Monday specified the process to be followed for dematerialising the units issued, in cases where investors are yet to provide demat account details to Alternative Investment Funds (AIFs). Under the rules issued in June, AIFs with a corpus of Rs 500 crore or more were required to dematerialise all issued units by October 31, 2023. Further, these AIFs will have to issue units only in dematerialised form from November 1, 2023, onwards. Similarly, AIFs with less than Rs 500 crore corpus will have to dematerialise issued units by April 30, 2024, and issue only dematerialised units May 1 onwards. The dematerialisation of AIF units is seen as a significant move towards digitisation, fostering transparency, and enabling effective monitoring of transactions in the financial landscape. In a circular on Monday, Sebi said managers of AIFs will continue to reach out to existing investors to obtain their demat account details and credit the units issued to them

Ready to relook at some AIF norms if assured of no misuse: Sebi official

Ananth Narayan said that RBI has agreed with Sebi's assessment on circumvention by AIFs