Specialized Investment Funds · beginner
SIF Foundation
What a Specialized Investment Fund is: SEBI's framework inside the mutual fund structure, the ₹10 lakh minimum, the seven permitted strategies, how a SIF differs from a regular scheme, PMS and an AIF, and how it is taxed and distributed.
- 01What is a Specialized Investment Fund?A Specialized Investment Fund (SIF) is a product category inside SEBI's mutual fund framework. This lesson explains what it is, who may offer it, what it may do that a regular scheme may not, and the risk warning it carries.
- 02SIF, Mutual Funds and PMS — How They DifferRegular mutual fund schemes, SIFs, Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs) are all regulated by SEBI, but differ in structure, rulebook, minimum investment and what the manager may do. This lesson sets them side by side.
- 03The Seven SIF Strategies in Three GroupsSEBI permits seven SIF investment strategies in three groups: equity-oriented, debt-oriented and hybrid. This lesson names each one, gives its defining allocation rule, and explains the limits common to all seven.
- 04The ₹10 Lakh Threshold — How It Is Counted and Who Is ExemptThe one entry condition specific to a SIF is a minimum investment of ₹10 lakh per investor. This lesson explains how the amount is counted, what does not count, who is exempt, and what the threshold does not tell an investor.
- 05SIF Tax Treatment and Who May DistributeA SIF is taxed under the mutual fund rules, applied to the strategy's actual portfolio, and may be distributed by a person holding NISM Series V-D certification (or, until it expires, an earlier Series XIII certificate) and an AMFI registration (ARN). Tax rates are as of October 2026.