Direct plan for schemes of Alternative Investment Funds (AIFs) and trail model for distribution commission in AIFs

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....ion in AIFs 1. SEBI Circular No. SEBI/HO/IMD/DF6/CIR/P/2020/24 dated February 05, 2020 introduced template(s) for Private Placement Memorandum (PPM) for AIFs, in order to ascertain that certain minimum level of information in a simple and comparable format is disclosed to investors. The aforesaid PPM template(s), inter-alia, provides for disclosure with respect to Direct Plan for investors, and c....

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....any, to the investors of AIF/scheme of AIF at the time of on-boarding. ii. Category III AIFs shall charge distribution fee/ placement fee, if any, to investors only on equal trail basis i.e. no upfront distribution fee/ placement fee shall be charged by Category III AIFs directly or indirectly to their investors. Further, any distribution fee/ placement fee paid shall be only from the management....