The enhanced disclosures by AIFs include track record of

The enhanced disclosures by AIFs include track record of

ZCZC
PRI COM ECO ESPL
.NEWDELHI DCM92
SEBI-MURTHY 2 LAST
The enhanced disclosures by AIFs include track record of
returns in previous funds, investment strategy and investment objectives, organisation of AIF and its decision making process. It suggested to form an Investor Advisory Committee to address vital matters, including conflicts of interest.
The panel has suggested 12 per cent GST (goods and services tax) rate for AIFs.
“A relaxation should be granted to AIFs to the effect that AIF should be considered as passthrough entities and the investors in AIFs be deemed as service recipients of the services provided by a fund manager/service provider. Similar benefits are available to fund managers in other large financial centres,” the report noted.
It also suggested measures to attract offshore fund managers to manage in India.
In May 2012, the regulator had notified the guidelines for this class of market intermediaries.
The category-I AIFs are those funds that get incentives from the government and Sebi. It include social venture, infrastructure, venture capital and SME funds.
The category-III AIFs are those trading with a view to making short-term returns and include hedge funds, among others.
The category-II AIFs can invest anywhere in any combination but are prohibited from raising debt, except for meeting their day-to-day operational requirements. These AIFs include private equity and debt funds and all others falling outside the ambit of above two other categories. PTI SP ARD
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