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Publishing Investor Charter and Disclosure of complaints by AIFs - SEBI - SEBI/HO/IMD/IMD-I/DOF9/P/CIR/2021/682

Extract

..... he notice of their investors in the following manner: a) In case of new schemes, disclose Investor Charter in the Private Placement Memorandum (PPM); b) In case of existing schemes, as a one time measure, disclose Investor Charter to the investors on their registered e-mail. 4. Additionally, in order to bring about further transparency in the Investor Grievance Redressal Mechanism, it has been decided that data on investor complaints received against AIFs and each of their schemes and redressal status thereof shall be disclosed by all AIFs as per format at ‘Annexure Y’, in the following manner: a) For new schemes, as a separate chapter in the PPM; b) For existing schemes, by way of updating the PPM within one month of end of eac .....

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Publishing Investor Charter and Disclosure of complaints by AIFs - SEBI

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..... regulators in all aspects of the AIF activity. Act in a fiduciary capacity towards the investors. B. Details of business transacted by the organization with respect to the investors: To raise capital from domestic and global investors. To invest in portfolio companies in accordance with investment strategy stated in Fund documents, with an objective to generate positive returns for the stakeholders including investors. To distribute returns to the investors as per the fund documents. C. Details of services provided to investors: 1. On-boarding of investors. 1.1. Sharing of Private Placement Memorandum (PPM). 1.2. Account opening with the AIF: Completing KYC of investors and registration of KYC with KRAs. Sharing of copies of fund documents .....

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Publishing Investor Charter and Disclosure of complaints by AIFs - SEBI

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..... ntact number, etc. of AIF or its Manager or Sponsor 6. Grievance redressal 6.1. Redressal of investor complaints received directly from investors and/ or from SEBI / SCORES. D. Timelines of the activity/services provided to investors: Sr. No. Description of activity/services provided by Alternative Investment Funds (AIFs) to its investors Timeline for completion of activity 1. Valuation related disclosures: a. Valuation of investment by Category I and II Alternative Investment Fund At least once every six months. Can be extended to once a year with approval of 75% of its investors by value of investment. b. Disclosure of NAV of scheme(s) of the Category III Alternative Investment Fund Close ended fund - quarterly basis Open ended fund - mon .....

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Publishing Investor Charter and Disclosure of complaints by AIFs - SEBI

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..... plaint received from investors Within 30 days from the date of receipt of complaint b. Redressal of investor complaint received from SEBI/ SCORES Within 30 days from the date of receipt of complaint E. Details of grievance redressal mechanism and how to access it. 1. Alternative Investment Funds are required to redress all investor complaints in timely manner. 2. An Alternative Investment Fund, by itself or through the Manager or Sponsor, are required to lay down procedure for resolution of disputes between the investors and AIF or Manager or Sponsor through arbitration or any such mechanism as mutually decided between the investors and the Alternative Investment Fund. 3. Investors can also approach SEBI for redressal of their complaints th .....

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Publishing Investor Charter and Disclosure of complaints by AIFs - SEBI

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..... that investment terms are not guarantee of future performance or returns of the Fund/ Scheme. 4. Responsibility to use right financial intermediaries, consultants and advisors. 4.1. Carefully consider validity and reliability of investment information obtained from all sources, especially unsolicited information obtained over the Internet. 5. Responsibility to maintain confidentiality of information. 5.1. Investors shall not disclose any material non-public information that is received by virtue of being investors of the fund, except as may be guided by the terms of the fund documents. Annexure- Y Complaints Data to be displayed by AIFs for each scheme 1. Investor complaints data for the quarter ending (March/June/September/December) S.No. .....

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Publishing Investor Charter and Disclosure of complaints by AIFs - SEBI

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