The Securities and Exchange Board of India on 10th December 2021 has prepared an Investor Charter for AIFs with a view to provide relevant information to investors about the various activities pertaining to AIFs.
AIFs, shall bring investor charter to the notice of investors through private placement memorandum(PPM) in case of new schemes and for existing schemes, as a one-time measure, they should disclose it to the investors on their registered e-mail.
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 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 each financial year.
Further AIFs shall maintain data on investor complaints, which shall be compiled latest within 7 days from the end of quarter.
