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of <h1>Alternative Investment Funds must follow investment limits, 75% investor approval, dematerialisation, liquidity parking and RBI/board guidelines for overseas investments</h1> Alternative Investment Funds must follow conditions including RBI/Board guidelines for overseas investments; Category I/II may invest up to 25% of investable funds in a single investee (up to 50% for large-value accredited funds); Category III limits are 10% (20% for large-value accredited funds) with listed equity limits calculable by investable funds or NAV; funds authorised to invest in other AIF units cannot offer their own units to other AIFs; investments in associates or in funds managed/sponsored by the manager/sponsor require 75% investor approval; related-party buy/sell requires 75% investor approval with specified voting exclusions; uninvested proceeds may be parked in high-quality liquid instruments; holdings should be dematerialised; regulator may impose further requirements.
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