SEBI vide circular dated March 28, 2022, has brought Calculation of investment concentration norm for Category III AIFs to provide flexibility to Category III AIFs, including large value funds for accredited investors of Category III AIFs, to calculate investment concentration norm-based either on investable funds or NAV.
All Category III AIFs shall disclose the basis for calculation of investment concentration norm in the placement memorandum of their schemes.
The basis for calculating the investment concentration norm shall not be changed during the term of the scheme.
This Circular shall come into force with immediate effect.
Link of the Circular:
About the Author
