SEBI Clarifies Rules Regarding Specialized Investment Funds (SIFs)

The Securities and Exchange Board of India (SEBI), through its circular dated April 10, 2025, has issued a circular giving clarification of rules regarding the Specialized Investment Funds (SIFs).

Based on queries raised by the industry participants and AMFI, the following has been decided by SEBI:

• Interval Investment Schemes: SEBI said that some earlier rules about the maturity of security interval schemes will not apply to interval-based strategies in SIFs.
• Minimum Investment Amount: The AMCs must ensure that the total investment made by an investor across all investment strategies offered by the SIF at the Permanent Account Number (PAN) is not more than Rs. 10 lakh. However, this rule does not apply to the mandatory investments made by AMCs for designated employees under paragraph 6.10 of the Master Circular for Mutual Funds dated June 27, 2024.

As per SEBI, the above rules are effective from the date of this circular.

Refer to the official circular for more information.