NSE Indices – AIF Benchmark Report Highlights

Considering the rising importance of AIFs as an asset class for investors, NSE Indices Ltd. (appointed by IVCA as one of the benchmarking agencies) has created a suite of benchmark indices to measure returns across various Categories of AIFs. The Nifty Alternative Investment Fund (AIF) Benchmark Report aims to provide the users insights into the aggregate historical performance of various categories of AIFs in India. This increased transparency will benefit investors and facilitate comparison of AIFs with their peers and with public market equivalents, where applicable


NSE Indices also launched its First ever sub–category level report for the period ended 31st March 2022, which features a host of finely curated sub-category indices to enable a more nuanced benchmarking of AIF performances.


We have now published the fifth iteration of the sub-category report for the period ended March 31, 2024.


Performance Highlights – March 2024



CATEGORY I


Vintage Year Scheme Count INR USD
Pooled XIRR (%) Pooled DPI Pooled RVPI Pooled TVPI Pooled XIRR (%) Pooled DPI Pooled RVPI Pooled TVPI
FY 2014 3 11.84% 1.29 0.60 1.89 8.13% 1.08 0.47 1.56
FY 2015 6 8.62% 1.15 0.50 1.65 5.75% 1.01 0.38 1.39
FY 2016 16 24.85% 0.69 2.88 3.57 21.01% 0.62 2.37 2.99
FY 2017 11 32.69% 0.72 2.48 3.20 28.00% 0.65 2.14 2.79
FY 2018 9 25.72% 0.51 1.48 1.99 21.39% 0.48 1.33 1.81
FY 2019 8 32.90% 0.08 2.65 2.73 28.35% 0.08 2.35 2.43
FY 2020 13 26.52% 0.09 1.63 1.72 21.77% 0.08 1.51 1.59
FY 2021 6 17.88% 0.01 1.39 1.40 13.28% 0.01 1.28 1.30
FY 2022 5 15.44% 0.01 1.22 1.23 11.02% 0.01 1.16 1.17
FY 2023 15 -4.52% 0.00 0.96 0.97 -6.28% 0.00 0.95 0.96
Total Schemes 92

Data as of 31st March 2024; Returns and multiples are calculated on a post-expenses, pre-carry, and pre-tax basis.

DPI: Distributions to paid-in capital, RVPI: Residual Value to paid-in capital, TVPI: Total Value to paid-in capital

Benchmark metrics are published starting from that vintage year in which at least 2 schemes are available.

RBI reference rates are used for calculation of metrics in USD terms.

Please refer the full report for complete scheme eligibility criteria and number of schemes excluded from calculation of above benchmarks

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