AIFs urge SEBI to revisit 2024 pro rata promised-capital rule
Alternative Investment Funds (AIFs) want SEBI to reconsider its 2024 pro rata rules, which now link investor returns and payouts to total promised capital instead of actual money invested.
Fund managers say this change disrupts deals with big investors, makes running funds more complicated, and could scare away the anchor investors who help get these funds off the ground.
Fund managers warn rule ends discounts
Managers argue that the new setup takes away fee discounts they usually offer large investors for bigger commitments.
It also forces everyone to chip in proportionally whenever money is needed, making it harder for funds to move quickly, especially if some investors are ready but others aren't.
Plus, these rules make it tougher for retail investors to join later on, which could slow down growth in a sector that's already handling ₹15.75 trillion as of December 2025.