Alternative Investment Fund Registration process is governed by SEBI as per the provisions of AIF Regulations as explained in Question 3 below. SEBI regulates investment advisory and portfolio management activities in India under the SEBI (Investment Advisers) Regulations, 2013 (“IA Regulations”) and the SEBI (Portfolio Managers) Regulations, 2020 (“PMS Regulations”); however, the investment manager entity of an AIF is not required to register under these regulations and is instead governed by the AIF's existing provisions.
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