Markets regulator Sebi on Monday issued modalities for migration of existing Alternative Investment Fund (AIF) schemes into accredited investor only (AI-only schemes) or Large Value Funds (LVFs).

This migration is subject to obtaining positive consent from all the investors and meeting the respective conditions, Sebi said in its circular.

This came after Sebi, in November, amended rules and facilitated the introduction of a separate category of AIF schemes, limited exclusively to Accredited Investors only (AI-only schemes), and offered the scheme-specific regulatory flexibilities in terms of less compliance around investor protection and extended additional relaxations and operational flexibilities to Large Value Funds for accredited investors.

In its circular, Sebi said that any new sc

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