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of <h1>SEBI updates AIF Regulations 2012, enabling AI-only schemes, LVF relaxations, and flexible accredited investor status</h1> Securities and Exchange Board of India amends the Alternative Investment Funds Regulations, 2012 to introduce AI-only schemes for accredited investors and extend relaxations to Large Value Funds (LVFs). New AI-only and LVF schemes must append 'AI only fund' or 'LVF' to the scheme name. Existing eligible AIF schemes may convert to AI-only or LVF status with unanimous investor consent, mandatory renaming, and reporting to SEBI and depositories within 15 days. Investors qualifying as accredited at onboarding retain that status for the scheme's life. AI-only schemes may be extended by a maximum of five years, and LVFs are exempt from standard placement memorandum templates and annual audits. Compliance must be captured in the Compliance Test Report.
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