Consider the following statements about Alternative Investment Funds (AIFs) and their regulatory changes:
1. AIFs with a majority of non-resident investors may be treated as indirect foreign investments.
2. Investments made by such AIFs will be subject to sectoral caps and foreign investment guidelines.
3. The categorization of AIF investments depends on the location of the fund manager or sponsor.
1
Only 1 and 2
2
Only 2 and 3
3
Only 1 and 3
4
Only 3
5
All of the above