alternative investment funds are defined in Regulation 2(1) (b) of Securities and Exchange Board of India Regulations, 2012. It refers to any privately pooled investment fund, in the form of a trust or a company or a body corporate or a Limited Liability Partnership (LLP).
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Alternative Investment funds represent a form of a pooled investment vehicle where collective investments are made into different nontraditional investment options. Any person who wants to invest in an alternative investment fund in India can do it via SEBI-registered AIF entities.An AIF is an Alternative Investment Fund which invests in different forms of companies and start-ups. An applicant would require registering with the Securities and Exchange Board of India (SEBI) before starting an AIF.
(1) AIF's provide Greater flexibility and scope in relation to traditional investment options
(2) AIF’s offer very lucrative risk-return ratio
(3) AIF’s present greater diversification of funds and low correlation
(4) Provides various opportunities to make investments in unlisted companies and high-yielding funds.
(5) AIF’s offer structured products with ample risk mitigation. Thus, attracting HNI’s to make investments in AIF’s
(1) AIF approaches BSE for seeking in principle approval for listing and trading of units.
(2) Upon receipt of in principal approval from BSE, AIF approaches SEBI for seeking approval.
(3) Upon receipt of approval from SEBI, AIF approaches BSE for listing and trading.
(1) Draft Information / Placement memorandum. Hard as well as soft copy.
(2) Investment Management Agreement. (In case of 1st Listing).
(3) Certification of registration of Alternative Investment Fund issued by SEBI. (In case of 1st Listing).
(4) Custodian Agreement. (In case of 1st Listing).
(5) R & T Agreement. (In case of 1st Listing).
(6) Trust Deed (if applicable).
(7) Memorandum & Articles of Association of the issuer (in case of 1st listing).
(8) Resolution passed by trustee in case of AIF is established as trust or Board of directors in case AIF is established as Company or by partners in case AIF is established as a Limited Liability partnership at their meeting approving listing of units of close ended AIF on the BSE Ltd.
(9) An undertaking from the CEO/ compliance officer that AIF is in compliance with Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 as amended and all the other applicable laws
(1) What is Alternative Investment Fund Registration?
(2) What is the registration fees to be paid to sebi?
(3) What are the income tax implications on a vcf?
(4) Are aif open ended or close ended?
(5) What are the indirect tax implications applicable on Alternative Investment Funds and Alternative Investment Fund Manager in India?
