In a move to enhance transparency and operational efficiency within the alternative investment space, the Securities and Exchange Board of India (SEBI) issued a circular on February 06, 2026, mandating Alternative Investment Funds (AIFs) to report the value of their units to depositories.
This directive leverages existing depository infrastructure to provide investors with clearer insights into their holdings.
Under the new guidelines, AIFs must upload the latest available Net Asset Value (NAV) for each International Securities Identification Number (ISIN) into the depository system through their Registrars and Transfer Agents (RTAs). This process must be completed before May 01, 2026, or within 30 days from the valuation date of the investment portfolio, whichever is later.
For valuations performed by independent valuers, the date of the valuation report serves as the reference point. If internal valuers are used, the date the valuation is documented in internal records applies.
The responsibility for ensuring timely and accurate data uploads rests with the AIF manager.
Furthermore, trustees or sponsors must include compliance with these provisions in their "Compliance Test Reports".
Depositories are tasked with building the necessary infrastructure and must display a specific disclaimer alongside the NAV, noting that values are based on the specific valuation methodologies and accounting practices of the respective AIF.
These provisions come into force with immediate effect.
Source: https://www.sebi.gov.in/legal/
