Two financial advisory firms Jain Investments and Anand Rathi will soon come up with their category III AIFs - Jain Investment Advisors Trust and Anand Rathi AIF III Trust once they receive SEBI’s approval to enter AIF space.
Category III AIFs more popularly known as long only funds and long and short funds employ diverse or complex trading strategies and undertake leverage to a great extent.
At present, Jain Investment has more than 3000 clients with a mix of HNI and retail clients. The financial advisory firm offers advice on mutual funds and insurance. Similarly, Anand Rathi offers wealth management services to corporates, HNIs and mass affluent.
Among other players who have applied with SEBI to launch category III AIFs are Motilal Oswal AMC, Tiger Ventures, Avendus Alternate Public Markets (IFSC) Fund, Pace 360 Investment Trust, Monarch AIF, Ashika Alternative Investments and Helios India Alternate Fund.