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Alternative Market Briefing

India’s alternative funds swell to 100

Wednesday, March 26, 2014

Komfie Manalo, Opalesque Asia:

India’s market regulator Securities and Exchange Board of India or SEBI announced it has granted some 100 entities to operate Alternative Investment Funds (AIFs) in the country. AIFs are newly created class of investment vehicles that invest in hedge funds, real estate and private equity.

In a report, Oman Tribune said SEBI approved 11 entities this year, 67 last year and 22 in 2011. Amongst the AIFs that have registered with the SEBI are Religare Credit Investment Trust, Indian National gems Fund and Milestone Alternative Asset Fund.

Under SEBI rules, AIFs are funds that operate and incorporated in India that engage in pooled in capital from local or foreign investors. The rules also stipulated that AIFs could operate independently under three categories, including hedge funds, private equities and real estates.

Early this month, SEBI approved 13 hedge funds under alternative investment fund (AIF) Category-III segment.

The funds that got the regulatory green signal include Avendus India, Karvy Capital, Motilal Oswal, Ca­pveda, DSP BlackRock, Ed­elweiss and Ambit Capital. The other hedge funds that received Sebi’s approval are Forefront, Unifi AIF, Malabar C......................

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