SEBI Introduces New Format For Mutual Funds Starting Specialized Investment Funds

The Securities and Exchange Board of India (SEBI) has issued a circular regarding the revised formats for mutual funds to launch Specialized Investment Funds (SIFs). As per the circular, when a mutual fund wants to launch a new investment strategy under a SIF, it must follow the same process that applies when launching a new scheme, as stated in Regulation 28 of the SEBI Mutual Fund Regulations, 1996.

Earlier, SEBI had issued circulars on February 27, 2025, and April 9, 2025, outlining the standards and eligibility requirements for mutual funds to launch SIFs, including disclosures in the investment Strategy Information Document (ISID).

To bring uniformity and speed up the application process, SEBI has now made it mandatory for all registered mutual funds planning to set up a SIF to submit their application in the format provided in Annexure I of the circular. Additionally, the format of ISID is given in Annexure II of the circular.

These changes are effective from April 11, 2025.

Refer to the official circular for more Information.