SEBI has mandated Certification for key investment team of manager of AIF

SEBI vide circular dated May 13, 2024 has mandated Certification for key investment team of manager of AIF. At least one key personnel, amongst the associated persons functioning in the key investment team of the Manager of an Alternative Investment Fund, shall obtain certification from the National Institute of Securities Market by passing the NISM.

Further, the aforesaid requirement of obtaining the certification shall be complied with on or before May 09, 2025, for the following–

1. Existing schemes of AIFs; and,
2. Schemes of AIFs whose application for launch of scheme pending with SEBI as on May 10, 2024.