Recently SEBI came up with an omnibus regulation pertaining to all private collective investment devices named SEBI (Alternative Investment Funds) Regulations, 2012. It is now possible to have a hedge fund, or a real estate fund, or a gold fund, or an art fund, or any other fund with any other focus, under the new regulation. The analytical article – “AIF Regulations: Paving the Way for a Variety of Collective Investment Devices” by Mr. Vinod Kothari analyses the stipulations under the new regulation and their significant impact.