Specialised Investment Funds (SIF)
The Bridge Between Mutual Funds & PMS
Specialised Investment Funds (SIF) is a newly introduced asset class by SEBI designed for High-Net-Worth Individuals (HNIs). It sits perfectly between traditional Mutual Funds and Portfolio Management Services (PMS).
SIFs allow fund managers to run highly concentrated portfolios (maximum 10 securities) with higher exposure limits to single issuers (up to 15%). This means the fund manager can take high-conviction bets to potentially generate alpha, without the rigid diversification constraints of traditional mutual funds.
Explore SIF Strategies
Concentrated Portfolios
Unlike mutual funds that hold 40-50+ stocks, SIFs are restricted to a maximum of 10 securities. This allows the fund manager to focus only on their highest-conviction ideas.
₹10 Lakh Minimum
To invest in an SIF, a minimum investment of ₹10 Lakhs is required per investor across all strategies. This positions it as an exclusive offering for HNIs looking for institutional-grade management.
Flexible Strategies
SIFs can offer Equity, Debt, or Hybrid strategies. The framework allows for higher single-issuer limits (up to 15%) compared to the 10% cap in standard mutual funds.
How SIF Compares
Understanding where Specialised Investment Funds fit in your wealth architecture.
| Feature | Mutual Funds | SIF (New) | PMS |
|---|---|---|---|
| Minimum Investment | ₹500 | ₹10,00,000 | ₹50,00,000 |
| Portfolio Size | 40 - 60+ Stocks | Max 10 Securities | 15 - 25 Stocks |
| Single Issuer Limit | Max 10% | Max 15% | Flexible (Subject to client agreement) |
| Taxation | As per MF rules (Equity/Debt) | As per MF rules (Equity/Debt) | Direct ownership (Capital Gains apply) |
| Regulation | SEBI MF Regulations | SEBI SIF Regulations | SEBI PMS Regulations |
Who is SIF designed for?
SIFs are meant for sophisticated investors who understand market risks and have the financial capacity to take concentrated bets for potentially higher returns.
- High-Net-Worth Individuals (HNIs) looking for aggressive alpha generation.
- Investors who find Mutual Funds too diversified but PMS too expensive or rigid.
- Those with a long-term investment horizon (3-5+ years) willing to endure short-term volatility.
- Individuals seeking mutual fund-like taxation but with a more focused portfolio approach.
Are you eligible for SIF?
Speak to our wealth partner to understand if Specialised Investment Funds fit your risk profile and financial goals.
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