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Crisil launches five new AIF benchmarks to gauge performance


Crisil has introduced five new performance benchmarks for alternative investment funds (AIFs). “CRISIL MI&A Research on Wednesday launched its alternative investment fund (AIF) benchmarks for March 2023, including five new ones in the sub-category-level — social venture funds, SME funds — both in Category I; real estate funds – residential (debt-oriented) in Category II; and long-only equity funds (open-ended) and long-only equity funds (closed-end), both in Category III,” according to the report.

It further stated that these AIFs have been included to a list of pre-existing sub-category-level benchmarks that will be launched in May 2023.


“AIFs are an important source of funding not only for early-stage start-ups, but also for companies that require growth capital,” said Jiju Vidyadharan, Senior Director at CRISIL Market Intelligence & Analytics. Thus, the expansion of the AIF business bodes good for economic development. AIF benchmarks assist investors in making decisions, hence promoting industry growth.”

“The five new sub-category benchmarks will support granular comparison of strategies,” said Piyush Gupta, Director, Funds Research at CRISIL Market Intelligence & Analytics. In the CRISIL AIF benchmarks for March 2023, the new real estate funds – residential (debt-oriented) category, which is a carve-out of real estate funds – residential, accounts for approximately 88% of the entire value coverage of real estate funds – residential. In terms of assets under management, the long-only sub-category is virtually evenly divided between closed and open-ended funds.”