Markets regulator SEBI on Thursday issued a revised quarterly reporting format for Alternative Investment Funds (AIFs) to ensure compliance and uniformity.

The quarterly reporting format has been reviewed in consultation with industry associations such as the Indian Venture and Alternate Capital Association (IVCA) and Equalifi, SEBI said in its circular.

The revised reporting format will be uploaded by AIF associations on their website within two working days of the issuance of the circular. Further, these associations will also provide assistance to AIFs in understanding and addressing the reporting requirements, SEBI said.

Also read: AIF asset growth slows in Q1 on global headwinds

AIFs will have to submit their quarterly reports online via the SEBI intermediary portal (SI portal) within 15 calendar days from the end of each quarter.

However, this schedule needs to be followed from the December quarter onwards, the regular said.

To facilitate a smooth transition, the association will work with all AIFs to ensure that the trial run of the revised quarterly report for the June quarter is submitted on the SI Portal by October 15.

Also read: SEBI moots standardisation for valuing AIF portfolio assets

For the September quarter, AIFs should submit their reports in the revised format by November 15, Sebi said.

To adapt to changes in the AIF industry and for policy and supervision purposes, the reporting format will be periodically reviewed by the association or any AIF Standard Setting Forum, in consultation with SEBI.

If any revisions are made, the updated format will be posted on the association’s or the forum’s websites at least one month prior to the end of the quarter, the regulator added.