SEBI issued an interpretative letter clarifying that the “broad-based fund” requirement applies to AIFs and must be assessed at the scheme level, with no exemption for domestic regulated entities.
Informal Guidance by way of an Interpretative Letter under provisions of SEBI (Informal Guidance) Scheme, 2025 received from UTI Alternatives Private Limited related to SEBI (Mutual Funds) Regulations, 2026
