Politics & Regulation

New hedge funds to spawn in India heralding onshore industry

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A spate of hedge funds is looking to launch in India, creating an onshore hedge fund industry in the country for the first time.

Players such as the Karvy Group are readying their offering, while the Securities and Exchange Board of India (SEBI) is understood to be reviewing as many as 20 Alternative Investment Funds (AIFs) applications.

This follows the recent creation of a newly class of pooled-in investment vehicles by the Indian regulator for real estate, private equity and hedge funds, all of which fall under the AIFs cate-gory, and the approval of the first seven such