SEBI has issued the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2020 on 19th October, 2020. The amendment prescribes the following qualifications to the key investment team of the Manager of Alternative Investment Fund:
- Adequate experience, with at least one key personnel having not less than five years of experience in advising or managing pools of capital or in fund or asset or wealth or portfolio management or in the business of buying, selling and dealing of securities or other financial assets;
- At least one key personnel with professional qualification in finance, accountancy, business management, commerce, economics, capital market or banking from a university or an institution recognized by the Central Government or any State Government or a foreign university, or a CFA charter from the CFA institute or any other qualification as may be specified by the Board.
The amendment also provides for constitution of an investment committee.
