Large Value Funds: SEBI Proposes ₹25 Crore Minimum Ticket
Why in the news
SEBI sought views on widening participation and easing compliance in Large Value Funds, a class of AIFs.
About LVFs
- AIFs for sophisticated, ultra-high-net-worth investors: institutions, family offices, sovereign funds.
- Looser diversification and related-party limits.
| Proposal | Detail |
|---|---|
| Entry ticket | ₹70 crore to ₹25 crore; old level too high for domestic institutions |
| Compliance | No standard PPM; no NISM certification if only LVFs run |
| Investor cap | Dropped |
| Conversion | Existing AIFs convert if all investors qualify and agree unanimously |
| Exemptions | Automatic relief from some disclosure and audit norms |
| Committee | Members not personally liable for compliance |
Terms
- PPM: disclosure document on strategy, risks, fees and governance.
- NISM: credential for market knowledge.
Exam angle
- Regulator: SEBI.
- Ticket: ₹70 crore to ₹25 crore.