Capital markets regulator Sebi on Friday provided certain exemptions to alternative investment funds (AIFs) with regard to an investment committee framework.
The exemption in AIF rule is conditional upon a capital commitment of at least Rs 70 crore from each investor accompanied by a suitable waiver, Sebi said in a notification.
So far, manager was responsible for investment decisions of the alternative investment fund and the manager was required to constitute an investment committee to approve investment decisions of the AIF.
The members of investment committee were equally responsible as the manager for investment decisions.
Besides, the manager and members of the committee were required to ensure that the investments were in compli…
Read the full article at: https://www.businessworld.in/article/SEBI-Grants-Certain-Exemption-To-Aifs-On-Investment-Committee-Framework/09-01-2021-363519
