Sebi has cancelled the registration of five alternative investment funds for repeatedly failing to submit mandatory quarterly activity reports. The regulator said the entities ignored reporting requirements despite regulations mandating periodic disclosures by all registered AIFs
Unifi currently manages over Rs.20,000 crore on behalf of about 10,000 Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) clients across 22 states in India, a press release said.
Currently, Sebi-registered alternative investment fund (AIF) or venture capital fund (VCF) are permitted to invest overseas, subject to an overall limit of USD 750 million.
