Nuvama Asset Management Limited, a wholly owned subsidiary of Nuvama Wealth Management, has received approval from the Securities and Exchange Board of India (SEBI) to establish and launch a Specialised Investment Fund (SIF).
In a regulatory filing dated October 19, Nuvama Wealth Management said its subsidiary received SEBI’s approval under the SEBI (Mutual Funds) Regulations, 2026.
The asset management company plans to launch its specialised investment platform, Numa SIF, and offer SIF products under the platform.
The company did not disclose details of the proposed investment strategies or the launch timeline in the filing.
SIFs are an investment category introduced by SEBI that allows asset management companies to offer investment strategies with greater flexibility than conventional mutual fund schemes, while remaining subject to regulatory requirements. They are positioned between traditional mutual funds and portfolio management services (PMS) in terms of investment flexibility and minimum investment requirements.
SEBI introduced the SIF framework in 2025, with a minimum investment requirement of ₹10 lakh per investor across SIF strategies, subject to applicable conditions and exemptions.