Alternative Investment Fund [AIF] are governed and regulated by the Securities & Exchange Board of India (SEBI). AIF's are not classified under the Mutual fund regulations laid down by the SEBI. AIFβs are defined under Regulation 2(1) (b) of the SEBI (Alternative Investment Funds) Regulation, 2012 as βprivately held and managed pool of investment fund of either domestic or foreign origin, organised in the form of a body corporate, company, LLP (limited liability partnership), or a trust.
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