TaxTMI 
TaxTMI 
Publishing Investor Charter and Disclosure of complaints by AIFs
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....ase of reference. 3. In this regard, all AIFs are advised to take necessary steps to bring the Investor Charter, as per 'Annexure - X', to the notice of their investors in the following manner: a) In case of new schemes, disclose Investor Charter in the Private Placement Memorandum (PPM); b) In case of existing schemes, as a one time measure, disclose Investor Charter to the investors on their registered e-mail. 4. Additionally, in order to bring about further transparency in the Investor Grievance Redressal Mechanism, it has been decided that data on investor complaints received against AIFs and each of their schemes and redressal status thereof shall be disclosed by all AIFs as per format at 'Annexure Y', in the following manner: ....
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.... * Maintain high professional and ethical standards within the AIF industry. * Comply with all applicable regulations and co-operate with the regulators in all aspects of the AIF activity. * Act in a fiduciary capacity towards the investors. B. Details of business transacted by the organization with respect to the investors: * To raise capital from domestic and global investors. * To invest in portfolio companies in accordance with investment strategy stated in Fund documents, with an objective to generate positive returns for the stakeholders including investors. * To distribute returns to the investors as per the fund documents. C. Details of services provided to investors: 1. On-boarding of investors. 1.1. Sharing of Privat....
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....5. Intimation of any non-material changes in the operations of the fund. 5.1. Non-material changes such as * Bank account details * Address of AIF or its Manager or Sponsor * Contact details such as email-id, contact number, etc. of AIF or its Manager or Sponsor 6. Grievance redressal 6.1. Redressal of investor complaints received directly from investors and/ or from SEBI / SCORES. D. Timelines of the activity/services provided to investors: Sr. No. Description of activity/services provided by Alternative Investment Funds (AIFs) to its investors Timeline for completion of activity 1. Valuation related disclosures: a. Valuation of investment by Category I and II Alternative Investment Fund At least once every six months....
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....f interest in any transaction As and when they arise or seem likely to arise i. Any change in terms of Private Placement Memorandum /fund documents On consolidated basis within one month of end of each financial year 3. Complaint handling related services: a. Response to complaint received from investors Within 30 days from the date of receipt of complaint b. Redressal of investor complaint received from SEBI/ SCORES Within 30 days from the date of receipt of complaint E. Details of grievance redressal mechanism and how to access it. 1. Alternative Investment Funds are required to redress all investor complaints in timely manner. 2. An Alternative Investment Fund, by itself or through the Manager or Sponsor, are re....
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.... status. 2.2 Timely updation of KYC information. 3. Responsibility to abide by the contribution agreement. 3.1. The investor needs to read carefully and understand the agreement that he/she is entering into with the Alternative Investment Fund and abide by the terms thereof. 3.2. The investor should be aware that investment terms are not guarantee of future performance or returns of the Fund/ Scheme. 4. Responsibility to use right financial intermediaries, consultants and advisors. 4.1. Carefully consider validity and reliability of investment information obtained from all sources, especially unsolicited information obtained over the Internet. 5. Responsibility to maintain confidentiality of information. 5.1. Investors shall....