https://www.taxtmi.com/circulars?id=63452 SEBI mandates a two-part Private Placement Memorandum (PPM) template for Category I and II AIFs and a separate template for Category III, requires alignment of subscription agreements with the PPM, and an annual audit of PPM compliance (with certain audit items optional). Mandatory industry and fund-level performance benchmarking is introduced: Associations representing a majority of AIFs shall appoint Benchmarking Agencies, AIFs must report scheme-level valuation and cash-flow data for schemes one year past first close, and benchmarking reports must accompany any disclosed past performance; exemptions apply to certain Angel Funds. en-us Wed, 05 Feb 2020 00:00:00 +0530 Thu, 06 Feb 2020 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63452 SEBI mandates a two-part Private Placement Memorandum (PPM) template for Category I and II AIFs and a separate template for Category III, requires alignment of subscription agreements with the PPM, and an annual audit of PPM compliance (with certain audit items optional). Mandatory industry and fund-level performance benchmarking is introduced: Associations representing a majority of AIFs shall appoint Benchmarking Agencies, AIFs must report scheme-level valuation and cash-flow data for schemes one year past first close, and benchmarking reports must accompany any disclosed past performance; exemptions apply to certain Angel Funds. Circulars SEBI Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63452