Alternative Investment Funds must follow SEBI's consolidated master circular covering PPMs, reporting, leverage and governance. SEBI's Master Circular for Alternative Investment Funds consolidates circulars up to March 31, 2024, supersedes the July 31, 2023 Master Circular and rescinds the circulars listed in Annexure 17 while preserving actions and applications under those circulars. It mandates online filing via the SEBI Intermediary Portal, standardized PPM templates with Merchant Banker due diligence and audit, annual Compliance Test Reports, custodial and dematerialisation requirements, reporting obligations, Category III leverage limits (max 2x NAV) and governance, valuation and accredited investor frameworks.
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Alternative Investment Funds must follow SEBI's consolidated master circular covering PPMs, reporting, leverage and governance.
SEBI's Master Circular for Alternative Investment Funds consolidates circulars up to March 31, 2024, supersedes the July 31, 2023 Master Circular and rescinds the circulars listed in Annexure 17 while preserving actions and applications under those circulars. It mandates online filing via the SEBI Intermediary Portal, standardized PPM templates with Merchant Banker due diligence and audit, annual Compliance Test Reports, custodial and dematerialisation requirements, reporting obligations, Category III leverage limits (max 2x NAV) and governance, valuation and accredited investor frameworks.
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