Portfolio Management Service
Portfolio Management Service (PMS) is a professional service where qualified and experienced portfolio managers backed by a research team manage portfolios on behalf of clients with an aim to deliver consistent and superior returns. It relieves you from all monitoring hassles with benefits like regular reviews, risk management & flexibility, thus makes it an ideal investment avenue for high net worth investors. ICICI Securities PMS offers a wide range of PMS strategies across market capitalization and investment styles, catering to entire spectrum of investment needs.
CATEGORIES OF ALTERNATIVE INVESMENT FUNDS
CATEGORIES OF ALTERNATIVE INVESMENT FUNDS
CATEGORIES OF ALTERNATIVE INVESMENT FUNDS
As per Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 Alternative Investment Funds shall seek registration in one of the three categories
- Category I: Mainly invests in start- ups, SME's or any other sector which Govt. considers economically and socially viable.
- Category II: These include Alternative Investment Funds such as private equity funds or debt funds for which no specific incentives or concessions are given by the government or any other Regulator
- Category III : Alternative Investment Funds such as hedge funds or funds which trade with a view to make short term returns or such other funds which are open ended and for which no specific incentives or concessions are given by the government or any other Regulator.
TENURE AND LISTING OF AIF SCHEMES
TENURE AND LISTING OF AIF SCHEMES
For AIF scheme launched under Category I & II shall be close ended, the tenure shall be determined at the time of application and shall be for minimum three years.
Category III Alternative Investment Fund may be open ended or close ended.
Extension of the tenure of the close ended Alternative Investment Fund may be permitted up to two years subject to approval of two-thirds of the unit holders by value of their investment in the
Alternative Investment Fund. In the absence of consent of unit holders, the Alternative Investment Fund shall fully liquidate within one year following expiration of the fund tenure or extended tenure.
Units of close ended Alternative Investment Fund may be listed on stock exchange subject to a minimum tradable lot of one crore rupees. Such listing shall be permitted only after final close of the fund or scheme. However, listing on stock Exchanges is purely voluntary.
LIST OF DOCUMENTS TO BE SUBMITTED FOR SEEKING IN-PRINCIPLE APPROVAL FOR LISTING OF UNITS OF AIF SCHEME
Certified true copy of the following Agreements / documents:
- Draft Information / Placement memorandum. Hard as well as soft copy.
- Investment Management Agreement. (In case of 1st Listing)
- Certification of registration of Alternative Investment Fund issued by SEBI. (In case of 1st Listing)
- Custodian Agreement. (In case of 1st Listing)
- R & T Agreement. (In case of 1st Listing)
- Trust Deed (if applicable)
- Memorandum & Articles of Association of the issuer (in case of 1st listing)
- Resolution passed by trustee in case of AIF is established as trust or Board of directors in case AIF is established as Company or by partners in case AIF is established as a Limited Liability partnership at their meeting approving listing of units of close ended AIF on the BSE Ltd.
- An undertaking from the CEO/ compliance officer that AIF is in compliance with Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 as amended and all the other applicable laws.