Which of the following is NOT a sub-category under

Solution

Under SEBI (Alternative Investment Funds) Regulations, 2012, Hedge Funds are categorized as Category III AIFs. These funds typically employ complex or diverse trading strategies and may use leverage, including investment in listed or unlisted derivatives.  Category I AIFs, on the other hand, are funds that invest in sectors considered socially or economically desirable by the government or regulators. The specific sub-categories under Category I include: 

• Venture Capital Funds (including Angel Funds)
• SME (Small and Medium Enterprises) Funds
• Infrastructure Funds
• Social Venture Funds (sometimes referred to as Social Impact Funds)