"All Alternative Investment Funds shall ensure transparency and disclosure of information to investors." Comment.

All Alternative Investment Funds (AIFs) shall ensure transparency and disclosure of information to investors as per the following details: Financial, risk management, operational portfolio, and transactional information regarding fund investments shall be disclosed periodically. Any fees prescribed to the Manager or Sponsor; and any fees charged to the Alternative Investment Fund or any Investor Company by an associate of the Manager or Sponsor shall be disclosed periodically. Any enquiries, legal actions by legal or regulatory bodies in any jurisdiction, as and when occurred, shall be disclosed. Any material liability arising during the Alternative Investment Fund's tenure shall be disclosed, as and when occurred. Any breach of a provision of the placement memorandum or agreement made with the investor or any other fund documents, if any, as and when occurred, shall be disclosed. Alternative Investment Fund shall provide at least on an annual basis, within 180 days from the year-end, reports to investors including the following information, as may be applicable to the Alternative Investment Fund: Financial information of investee companies. Material risks and how they are managed. Category III Alternative Investment Funds shall provide quarterly reports to investors in respect of Clause (g) within 60 days of the end of the quarter.