An alternative investment fund, or AIF, is an anonymously pooled investment vehicle created or established in India that gathers resources from knowledgeable investors, whether local or international, for investing in accordance with a specified investment policy for the benefit of its investors. AIFs may be organized as a corporation, trust, or other type of legal entity (such a limited liability partnership) by incorporation or formation. AIF is exempt from the provisions of the SEBI (Mutual Funds) Laws of 1996, the SEBI (Collective Investment Schemes Laws of 1999, and any other Board rules governing fund management.
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