Alternative Investment
Funds (AIF)
Sophisticated strategies for sophisticated investors. Category III AIFs are SEBI-regulated pooled investment vehicles that employ diverse or complex trading strategies — long-short equity, multi-strategy, event-driven — targeting absolute returns. Minimum investment ₹1 crore.
Built on a considered shelf.
Long-Short Equity
Take both long and short positions to generate alpha in any market condition. Lower correlation to traditional equity indices.
Absolute Return Focus
AIF Cat III managers target positive returns regardless of market direction, with explicit downside protection mandates.
Diverse Strategy Palette
From quant-driven factor models to fundamental special situations — a breadth of strategies unavailable in public funds.
SEBI-Regulated Vehicles
All Cat III AIFs are registered with SEBI and comply with AIF Regulations 2012, offering a regulated framework for alternative investing.
Institutional Co-Investors
Access the same vehicles used by family offices, endowments, and institutional investors — now available to HNIs.
Tax Efficiency at Fund Level
Pass-through tax treatment at the investor level. Our advisors will help structure your investment to optimise tax outcomes.
Featured AIF Funds
Curated Category II and III funds from institutional managers.
ITI AMC
ITI Long-Short Equity AIF
A Category III AIF using long-short equity strategies. The fund aims to beat NIFTY over complete market cycles while protecting capital during downturns, with net exposure ranging from -15% to 100%.
Min
₹1 Crore
Return
15-18% p.a.
Horizon
3-5 years
- 7+ years of live track record across market cycles
- Absolute return focus, not index-hugging
UTI AMC
UTI Structured Debt Opportunities Fund IV
A Category II AIF that lends directly to mid-sized Indian companies (₹100-500 Cr revenue) with strong fundamentals. Every loan is backed by tangible collateral with 1.3-2.2x security cover.
Min
₹1 Crore
Return
12.75-14.45% p.a.
Horizon
4 years (close-ended)
- Secured lending with 1.3-2.2x collateral cover
- Target yield 12.75-14.45% p.a.
The questions clients
actually ask.
- What are the three categories of AIF?
- Cat I (social/infrastructure), Cat II (PE/VC/debt), Cat III (long-short, hedge fund strategies). We focus on Cat III for HNI investors.
- What is the minimum investment for Cat III AIFs?
- SEBI mandates ₹1 crore minimum per fund. Some top-tier funds have higher minimums due to capacity constraints.
- How liquid are Cat III AIFs?
- Liquidity varies by fund. Some offer quarterly or annual redemption windows; others have lock-in periods. We disclose this upfront for every fund we recommend.
- How are AIF returns taxed?
- Cat III AIFs are pass-through structures. LTCG, STCG, and income are attributed directly to investors based on their proportional interest.
Talk to a senior advisor.
A 45-minute consultation, written assessment, no obligations.