Key Changes In The Alternative Investment Funds (AIFs) Space

The past few months have been a period of significant change for Alternative Investment Funds (AIFs). Amongst others, the regulatory landscape governing funds has been greatly reformed by the introduction of four major reforms, which have been introduced by the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange and the National Stock Exchange (collectively, Stock Exchanges) and the Central Board of Direct Taxes, Government of India (CBDT). The rapid pace of reformation in the field has been largely brought out by the release of recommendations suggested by the Alternative Investment Policy Advisory Committee (AIPAC), which was constituted by SEBI for this very purpose. After its first report led to an overhaul of the angel funds regime, amongst others, the second report, released in December 2016, has culminated in a wider set of reforms in 2017, which have been implemented not only by SEBI, but by other regulatory bodies as well.