Service Details
Trustee to Alternative Investment Funds
Scope of Service
- Vetting of PPM, Trust Deed, Investment Management Agreement and the Contribution Agreement and assisting in application for registration of the fund under SEBI (AIF) Regulations;
- Liasoning and co-ordination with Investment Manager and SEBI for any queries /discussion with respect to an application made;
- Apply for PAN/ TAN for the Trust and Scheme, Opening / operating Bank Account, Demat Account, Broking Account, Custodian Account of the Trust and Scheme;
- Signing of trust/scheme financials, Issuing auditor appointment letter, Coordination with Auditor, etc;
- Follow up and liaisoning with the Investment Manager for filing of necessary periodic compliance reports with SEBI & other regulatory authority (as per Regulations and various circulars issued from time to time)
- Follow up for obtaining and review of Quarterly Compliance Reports (required to be submitted to the Trustee) and other necessary information on the fund (including Fund financials, Investor Report etc.) & obtaining and review of annual Compliance Test Report
Trustee to Alternative Investment Funds (AIFs) FAQs
1. What does a Trustee to an Alternative Investment Fund do?
The Trustee ensures that the AIF operates in compliance with SEBI regulations and safeguards the interests of investors by overseeing fund management activities.
2. Why is a Trustee required for an AIF?
SEBI mandates the appointment of a Trustee to maintain transparency, accountability, and investor protection in fund operations. A SEBI Registered Debenture Trustee is preferred to have greater investor confidence.
3. What types of AIFs does MITCON Credentia act as Trustee for?
We act as Trustee for Category I, II, and III AIFs—covering venture capital, private equity, infrastructure, debt, and hedge funds. We also work for all type of Fund in GIFT City under IFSCA Regulations
4. How does the Trustee monitor fund compliance?
By continuously monitoring of Fund Manager through robust ERP System developed and provides login to Fund Manager. This helps in monitoring and ensuring adherence to SEBI guidelines,Trust Deed, Private Placement Memorandum and other document’s terms.
5. What are the key responsibilities of the AIF Trustee?
Approving fund setup, monitoring operations, ensuring segregation of investor assets, and reporting any regulatory or fiduciary breaches.
6. How does MITCON Credentia enhance governance for AIFs?
We provide a structured compliance framework and compliance calendar on Monthly basis, getting reports from Fund Manager through our online portal, Monitoring and checking breaches and assisting Fund Manager to ensure they are compliant.
7. What happens if the AIF breaches investment conditions?
The Trustee takes corrective action—such as assisting Fund Managed to get the compliance right, advising rectification, or protecting investor interests as per regulatory provisions.
8. How does the Trustee interact with the Investment Manager or Sponsor?
The Trustee supervises their activities through regular reporting, periodic reviews to ensure all operations align with investor objectives.
9. What is the benefit of engaging MITCON Credentia as an AIF Trustee?
Our experienced fiduciary team ensures regulatory compliance, ethical fund governance, Online portal to monitor Fund Manager and their compliances, providing monthly compliance calendar, updating Fund Manager with regular circular update from all regulator and investor trust through proactive oversight.
