Alerts & Updates 18th Nov 2022
In an important change for the AIF industry, SEBI has mandated that the assets and liabilities of each scheme of an AIF are segregated and ring-fenced from other schemes of the AIF; and bank accounts and securities accounts of each scheme are segregated and ring-fenced. This will be an important change in scenarios where multiple schemes are launched under same AIF structure. Further, SEBI has provided guidelines on following:
-Timeline for declaration of First Close of schemes of AIFs;
-Calculation of tenure of close-ended schemes of AIFs; and
-Fee for change in control of manager/sponsor or change in manager/sponsor of AIFs
The aforementioned changes require existing AIFs which are not in compliance as on November 17, 2022, to transition within certain timelines.
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