What is a Specialized Investment Fund (SIF) in India?

A Specialized Investment Fund (SIF) is a SEBI-regulated investment category introduced under the Mutual Fund Amendment Regulations, 2024. It allows AMCs to offer long-short strategies - including unhedged short positions via derivatives up to 25% of net assets - to investors with a minimum of Rs 10 lakh. SIF combines mutual fund transparency (daily NAV, AMFI-published) with PMS-style strategy sophistication.

How does a long-short SIF strategy work?

In a long-short SIF, the fund manager takes long positions in stocks they expect to rise, and short positions via derivatives in stocks or sectors they expect to fall. This means the fund can potentially generate returns in both rising and falling markets. The maximum unhedged short position allowed under SEBI is 25% of net assets.

What is the minimum investment in a SIF?

The minimum investment in a Specialized Investment Fund is Rs 10 lakh per investor per AMC at PAN level. SIF bridges the gap between mutual funds (Rs 500 minimum) and PMS (Rs 50 lakh minimum) for HNI investors.

Who can distribute SIF products in India?

Only distributors who have cleared the NISM Series XIII examination are authorised to distribute SIF products. This is a SEBI-mandated qualification separate from the regular NISM Series 5A MF certification. AND Fintech (ARN-301536) is a certified SIF distributor.

Free - Delivered to inbox

The AND Fintech SIF Investor Guide

India's newest SEBI-regulated investment category. Less than 2% of distributors are certified to explain it. Most investors won't hear about it until it's mainstream.

20 minutes to read. No jargon. No sales pitch.

What is SIF

The simplest explanation of India - newest SEBI-regulated asset class. Plain English, no jargon.

How Long-Short Works

What going long means. What shorting means. Why it matters when markets fall.

5 SIF Categories

Which category suits which investor. The risk-return map you need before investing.

Tax - Fund by Fund

Group A vs Group B. Which funds qualify for equity taxation. Every live fund mapped.

AND Fintech Recommendations

What we actually recommend and why. Our picks per category with reasoning.

How to Invest

Documents needed, minimum amounts, timeline and how to get started with AND Fintech.

Annual tax harvesting strategy - legally reduce your LTCG every year.

Get the guide