SEBI CIRCULAR DATED_09.08.2019 FOR AIF INCORPORATED IN IFSC FOR INVESTMENTS

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Summary of Circular dated August 09, 2019 For AIF incorporated In IFSC for investments


SEBI has decided to harmonize the provisions governing investments by AIFs wide circular dated August 9,2019 for AIF incorporated in IFSC with those provisions regarding investments applicable to domestic AIFs. Accordingly, AIFs incorporated in IFSC shall be permitted to make investments as per the provisions of the SEBI (Alternative Investment Fund) Regulations, 2012, and the guidelines and circulars issued thereunder, including the operating guidelines for AIFs in IFSC

2. All other conditions specified in the aforesaid SEBI circular dated May 23, 2017, remain unchanged. We have given below details of the circular dated May 23, 2017, for your reference. 


“Any portfolio manager, alternative investment fund or the mutual fund shall be permitted to invest in
the following:
a) Securities which are listed in IFSC;
b) Securities issued by companies incorporated in IFSC;
c) Securities issued by companies incorporated in India or companies belonging to the foreign jurisdiction.
subject to such conditions or guidelines that may be stipulated or issued by the Reserve Bank of India and Government of India from time to time"


Also, such a portfolio manager, alternative investment fund or mutual fund shall invest in India through the foreign portfolio investor route”

Reference:- 

https://www.sebi.gov.in/legal/circulars/aug-2019/circular-on-investments-by-aifs-incorporated-in-ifsc_43867.html

https://www.sebi.gov.in/legal/circulars/may-2017/securities-and-exchange-board-of-india-international-financial-services-centres-guidelines-2015-permissible-investments-by-portfolio-managers-alternate-investment-funds-and-mutual-funds-operatin-_34951.html






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