India’s stock market regulator Securities and
Exchange Board of India (SEBI) has allowed as many as 123 entities to set up
AIFs newly created class of pooled in investment vehicles for real estate,
private equity and hedge funds in less than two and half-years.
The 123 Alternative Investment Funds (AIFs) have
been registered with SEBI since July 2012.Of these, around 34 entities got the
market regulator's approval to operate so far this year (January-November), 67
in 2013 and the remaining 22 in 2011.
The AIFs that have registered with Sebi in November
are Religare Dynamic Trust, Indus Way Emerging Market Fund and Carpediem
Capital Partners Fund and those registered in October are Singular India
Opportunities Trust.
The regulator had notified in May 2012, the
guidelines for this new class of market intermediaries. AIFs are basically
funds established or incorporated in India for the purpose of pooling in
capital from Indian and foreign investors for investing as per a pre-decided
policy.
Under Sebi guidelines, AIFs can operate broadly in
three categories. The Sebi rules apply to all AIFs, including those operating
as private equity funds, real estate funds and hedge funds, among others.
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