NSE Indices recently published its first Nifty Alternative Investment Fund Benchmark Report to cater to the rising investor interest in alternative investor funds (AIFs) in India.
The report will help investors compare the historical performance of different categories of AIFs with their respective benchmarks and broader market indices such as the Nifty 50 and Nifty 500. NSE India has created Nifty AIF benchmarks for each of the three AIF categories - category I, II and III – based on data as of March 31, 2021. The report will be published semi-annually based on March-end and September-end data.
The first report, which is based on data as of March 2021, shows that the total commitments raised by the AIF industry have grown at around 63% (5-year CAGR) from Rs. 38, 879 crores as of March-end 2016 to Rs. 4.5 lakh crores as of March-end 2021. Category II AIFs account for the largest share of 79 per cent of the total commitments raised as of March-end 2021. Category II AIFs include real estate funds and private equity funds, among others. The report has collated data from 392 AIF schemes and 277 AIF funds.
Category I and II AIFs, as a whole, have been classified as per their vintage year, and the aggregate IRR (internal rate of return) for them has been calculated for each benchmark year. Vintage year is defined as the financial year in which the scheme had its first close. For Category III AIFs, two performance benchmark indices, asset-weighted and equal-weighted have been calculated. Only AIFs registered with the Securities and Exchange Board of India (SEBI) and al least one vintage year old as on March 31, 2021 have been considered for the calculation of benchmarks.
The complete report can be accessed at https://www.niftyindices.com/aif-benchmark-report.
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