With the unrelenting inflows into equity mutual fund (MF) schemes despite growing economic uncertainty, top fund houses are queueing up to launch Specialised Investment Fund (SIF), a high-risk and high-return strategy approved by SEBI in February.
To distinguish between MF from SIF products, SEBI has mandated that AMCs to have a distinct brand name and logo for SIF.
Following this, the country’s largest fund house SBI MF has chosen to enter SIF space under its Magnum brand and launched Magnum Hybrid Long Short while Edelweiss MF branded its SIF under Altiva to launch Hybrid Long -Short Fund. Under its QSIF brand, Quant MF has already launched two SIF products.
Mirae Asset Investment Managers has come out with its brand identity Platinum SIF for its SIFs offerings. Bandhan AMC will foray into SIF segment under ‘Arudha SIF’ while Union MF has firmed up its SIF venture and plans to announce its strategy soon.
The latest entrant in MF, The Wealth Company AMC has moved the SEBI for entering SIF business through the alternate route. Though SEBI norms prescribe minimum of 3 years and AUM of ₹10,000 crore for SIF venture, it has provide an alternative route for new entrant to encourage competition.
Under the alternate route, MFs should appoint a CIO for the SIF with at least 10 years’ of fund management experience and managed an average AUM of ₹5,000 crore. An additional Fund Manager for the SIF with experience of 3 years and has managed AUM of ₹500 crore.
Like MF, SIF is a new investment vehicle designed for sophisticated investors who are comfortable with higher risk and more complex investment strategies across asset classes with minimum investment is ₹10 lakh. SEBI has allowed three investment strategy in equity, two each in debt and hybrid.
DP Singh, Deputy Managing Director & Joint CEO, SBI MF said it is a misconception that investment in derivatives markets are risky, but it is complicated and should be left to experienced fund managers to handle it rather than dabbling on own by retail investors.
“Even pensioners can consider in this product provided they have the risk appetite. We are targeting to get at least 20,000 to 30,000 applications at the NFO stage,” he said
Radhika Gupta, MD & CEO, Edelweiss Asset Management said an investor can expect arbitrage-like or fixed income plus returns by investing in the SIF.
While Edelweiss BAF and Altiva Hybrid Long Short Fund are both hybrid strategies, the BAF maintains open equity exposure of 30–80 per cent, while the Altiva will have minimum equity exposure mostly through tactical long short equity trade, thereby reducing the overall risk associated with open equity.
Published on September 27, 2025