India’s capital market regulator, SEBI, has rolled out transformative updates to Alternative Investment Funds (AIF) reporting obligations, prioritizing operational efficiency and business friendliness. Announced via a circular under AIF Regulations 2012 (Regulation 28) and the Master Circular’s Clause 15.1, these changes took effect instantly.
Gone are the days of rigorous quarterly reporting. AIF managers no longer need to upload exhaustive activity reports to IVCA formats every 15 days post-quarter. Instead, a robust Annual Activity Report becomes the cornerstone, due 30 days after the financial year ends on March 31, directly on the SEBI Intermediary Portal.
Kicking off with FY 2025-26, the first such report is slated for submission by May 31, 2026. Complementing this, a condensed quarterly version in an updated format will be filed bi-annually—skipping the March quarter to avoid duplication with annual data. The debut quarterly filing targets the June 2026 quarter-end.
Crafted amid the AIF industry’s rapid expansion, these adjustments stem from collaborative reviews with IVCA’s AIF Standards Forum and SEBI’s Ease of Doing Business initiative. Updated templates will hit IVCA’s site shortly, ensuring smooth transitions and support for any queries.
Overriding prior guidelines from the May 2024 Master Circular, this step underscores SEBI’s commitment to balanced regulation. It safeguards investor interests, propels securities market development, and refines oversight mechanisms. Stakeholders can find the circular on SEBI’s official portal for immediate reference.