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        SEBI

        Modalities for migration to AI only schemes and relaxations to Large Value Funds for Accredited Investors under SEBI (Alternative Investment Funds) Regulations, 2012

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        Alternative Investment Funds: SEBI allows migration to AI-only and LVF schemes with naming, consent, reporting, and placement memorandum exemptions. SEBI permits AIFs to launch AI-only schemes for Accredited Investors and grants relaxations to Large Value Funds; new schemes must append 'AI only fund' or 'LVF' to the name. Pre-existing schemes may convert with positive consent from all investors and must report name change and conversion to SEBI and depositories within 15 days. Investor AI status at onboarding endures for the scheme's life. AI-only schemes' maximum extension is five years inclusive of prior extensions. LVFs are exempt from the standard placement memorandum template and annual audit of its terms without investor waivers.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                      Provisions expressly mentioned in the judgment/order text.

                          Alternative Investment Funds: SEBI allows migration to AI-only and LVF schemes with naming, consent, reporting, and placement memorandum exemptions.

                          SEBI permits AIFs to launch AI-only schemes for Accredited Investors and grants relaxations to Large Value Funds; new schemes must append 'AI only fund' or 'LVF' to the name. Pre-existing schemes may convert with positive consent from all investors and must report name change and conversion to SEBI and depositories within 15 days. Investor AI status at onboarding endures for the scheme's life. AI-only schemes' maximum extension is five years inclusive of prior extensions. LVFs are exempt from the standard placement memorandum template and annual audit of its terms without investor waivers.


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