Markets regulator Sebi on Thursday came out with a standard approach for valuing the investment portfolio of Alternate Investment Funds (AIFs) along with modalities for launching liquidation schemes, a move that will benefit investors.
In addition, all schemes of AIFs will have to be issued in dematerialised (demat) form, the Securities and Exchange Board of India (Sebi) said in three separate circulars.
Existing AIFs with a corpus of more than Rs 500 crore and any new AIFs are required to dematerialise their units by October 31, 2023, and after this, issuance of units will be done in demat form. Other AIFs with a corpus of less than or equal to Rs 500 crore are required to dematerialise their units by April 30 next year.
Under the standardised approach to valuation, Sebi said that portfolio valuation of securities would be carried out as per guidelines endorsed by the AIF industry association.
Presently, AIF Regulations focus on disclosures to investors and do not prescribe any ..
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