SEBI proposes GARUDA to speed AIF launches in India
Business
SEBI just proposed GARUDA, a new system that lets alternative investment fund (AIF) schemes launch in just 10 working days instead of the usual 30 days, unless SEBI spots an issue.
This upgrade comes as AIFs are booming in India, with the number of registered funds jumping from 732 to 1,849 over the past five years.
SEBI proposes self-filing for accredited AIFs
SEBI also wants to make life easier for accredited-investor-only schemes and angel funds by dropping the need for merchant bankers when filing documents.
Fund managers could soon file directly with a simple undertaking and get started right away.
accredited investors, now more than 2,700 strong, make up about 30% of all AIF investments.
If you have thoughts on these changes, SEBI is open to public comments until June 1.