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<h1>SEBI Issues New Circular for Standardized Valuation of Alternative Investment Funds, Effective November 1, 2023.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular detailing a standardized approach for valuing the investment portfolios of Alternative Investment Funds (AIFs). The circular mandates that AIFs adhere to specific valuation norms, either following existing SEBI guidelines or those endorsed by an AIF industry association. Managers must ensure independent valuation and disclose any significant deviations or changes in methodology to investors. Independent valuers must meet specific criteria, and timely reporting to performance benchmarking agencies is required. These provisions will be effective from November 1, 2023, aiming to ensure transparency and protect investor interests.