The Association of International Wealth Management of India (AIWMI) and a few leading AIFs have come together to set up Indian Association of Alternative Investment Funds (IAAIF), said a press release issued by AIWMI.
This association aims to set standards and provide a voice for the emerging alternative investments sector in India. The association will act as a platform for dialogue on regulatory and policy issues pertaining to AIFs and building linkages among various stake-holders to promote the development of the alternative investments industry.
In a press release, Aditya Gadge, Principal Advisor, Indian Association of Alternative Investment Funds said, “The objective of IAAIF is to support, complement and develop the alternative investments sector in India. IAAIF will represent the industry in discussions with government and the regulators to ensure that the environment and infrastructure available can support the continued development and growth of the industry. The association would seek common ground, putting aside competition among the various companies, to be able to advance the interests of the alternative investments industry as a whole.”
The charter members of IAAIF are Ambit Investment Advisors, Arthveda Fund Management, Ativir AIF, DSP Blackrock Investment Managers, Edelweiss Alternative Asset Advisors, Harmony Capital, IIFL Asset Management, IFMR Investment Managers, Kotak Investment Advisors, SBI AMC, and Unifi Capital with many other prominent institutions currently in the on-boarding stage. Current Affiliate Members are AZB & Partners, Ashland Partners, Milesoft Technologies & Amicorp Trustees.
The commitment raised by AIFs is increasing rapidly. AIF managers raised commitments worth Rs. 50,441 crore from individual and institutional investors as on June 2016, up from Rs. 24,873 crore in June 2015.
As on June 2016, there are 235 AIFs registered with SEBI.
