SEBI invites comments on second Alternative Investment Policy Advisory Committee report
Published: Dec 05, 2016
By TIOLCORP News Service
MUMBAI, DECEMBER 05, 2016: THE Alternative Investment Policy Advisory Committee (AIPAC) has submitted its second report to SEBI and comments are invited from public and interested stakeholders on suggestions pertaining to the same. SEBI had constituted AIPAC as a standing committee under chairmanship of Mr. N. R. Narayana Murthy in March 2015. AIPAC has submitted its second report to SEBI with various recommendations stated therein.
The second report covers critical areas for the development of Alternative Investment Funds (AIFs) in India. The report includes recommendations for enhancing the confidence of those who invest in AIFs. Recommendations for greater disclosure by AIF managers have also been made in the Report.
Earlier the Government considered and implemented some of the recommendations in the tax sphere which were made by the first AIPAC report.
As per Mr. Murthy, if implemented, the recommendations made in the report will enable all eco-system players, including domestic and offshore limited partners, to play their roles most effectively. This will ultimately lead to a healthy investing environment and a greater supply of long-term, stable capital to start-ups and a wide range of other businesses vital to India’s economic development.
The report also contains some Next Practices like the manner of application of the Accredited Investor' concept and permanent capital vehicles.
According to data released by SEBI, domestic funding of AIFs has grown rapidly by approximately Rs. 15,000 crores i.e. 108 % during the last 12 months.
The comments may be emailed on or before December 22, 2016, to aif@sebi.gov.in or sent by post, to Deputy General Manager, Division of Funds – I, Investment Management Department, SEBI. The Comments/ suggestions may be provided in the format prescribed by SEBI.
