Category III AIF against PMS and mutual funds on pooling, minimum investment, corpus, lock-in, investor cap and manager commitment.
Tag: Alternative Investment Funds
The six AIF pooling structures used in India, compared on pooling vehicle, applicable regulations, investor type and routing of investment.
The SEBI benchmarking mandate for AIFs: who reports, the half-yearly guidelines, the three agencies, category methods and the CAPM alpha computation.
How an investor runs due diligence on an AIF: the Manager’s track record, the key man clause, the legal documents, conflicts and a document checklist.
How AIF investments are valued and NAV computed: the three approaches, seven IPEV methods, Regulation 23 frequency, valuer eligibility and deviation triggers.
What an AIF’s PPM must disclose, how it is filed through a merchant banker, the annual PPM audit scope and exemptions, and material changes.
How AIF returns are measured: gross and net IRR, the J curve, PIC, DPI, RVPI and TVPI multiples, KS-PME, Direct Alpha and Sharpe.
How AIF fees work: management fees, hurdle rate, high-water mark, catch-up, clawback and the distribution waterfall, with Indian market figures.
CA | CS | CMA
