IVCA President Rajat Tandon emphasized the need for equitable regulations between mutual funds and AIFs to prevent industry cannibalization. During a Mumbai conclave, he discussed ongoing talks with SEBI to improve the low pass rate of the PMS/AIF fund managers’ certification exam by refining the syllabus. Tandon highlighted India’s growth potential in the AIF sector, which has increased from $14 billion to $74 billion since its regulation in 2012, but still lags behind the US in venture capital and private equity. He also addressed issues regarding the low number of accredited investors and the need for better education in fund management.