Investment concentration limits: AIFs now face caps on allocations, governance duties, and startup investment rules. Amendments redefine eligible investee categories by inserting a startup definition and revising the venture capital undertaking definition, set investment concentration limits (Category I & II capped at twenty five percent per investee; Category III capped at ten percent), prohibit AIFs authorised to invest in other AIF units from offering their units to other AIFs, and require seventy five percent investor approval for investments in associates or related-fund units. The substituted regulation 20 and new Fourth Schedule impose a detailed Code of Conduct, expand manager and Investment Committee responsibilities, mandate custodianship requirements, require Board notification or approval for control changes, and annual audited accounts.
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Investment concentration limits: AIFs now face caps on allocations, governance duties, and startup investment rules.
Amendments redefine eligible investee categories by inserting a startup definition and revising the venture capital undertaking definition, set investment concentration limits (Category I & II capped at twenty five percent per investee; Category III capped at ten percent), prohibit AIFs authorised to invest in other AIF units from offering their units to other AIFs, and require seventy five percent investor approval for investments in associates or related-fund units. The substituted regulation 20 and new Fourth Schedule impose a detailed Code of Conduct, expand manager and Investment Committee responsibilities, mandate custodianship requirements, require Board notification or approval for control changes, and annual audited accounts.
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