Alternative Investments: Investments other than traditional assets like stocks, bonds, and cash, catering to sophisticated investors like HNIs and institutions.
Traditional Investments: Include listed stocks, bonds, mutual funds, and ETFs, characterized by high liquidity through capital market trading.
Illiquidity: Essential characteristic of alternative investments, making them less convertible to cash due to off-market nature or complex structures.
Dual Class Investments: Structures with illiquid underlying assets but liquid instruments, like REITs or InvITs, listed on exchanges.
AIF Definition: SEBI defines AIF as a privately pooled investment vehicle from select investors, excluding mutual funds, family trusts, or RBI-regulated funds.
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