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Alternative Investment Funds are divided into several categories (AIFs)

Alternative Investment Funds / Schemes: Tenure and Listing - The duration of AIF schemes established under Category I and II will be set at the time of application and shall be for a minimum of three years. Alternative Investment Funds in Category III might be opening-ended or closed-ended. The near-ended Alternative Investment Fund's term can be extended for up to two years with the agreement of two-thirds of the unit holders by value of their investment in the Alternative Investment Fund. In the absence of an unitholder agreement, the Alternative Investment Fund will entirely liquidate within one year of the fund's initial or extended-term expiring.
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