A Specialised Investment Fund (SIF) is a new category of mutual fund scheme introduced by SEBI. It allows Asset Management Companies (AMCs) to launch funds that are goal-based or theme-based, catering to very specific investment needs like retirement planning, child education, global exposure, or taxation benefits.
Consider SIFs as customized solutions instead of generic, one-size-fits-all products.
SEBI realized that many investors have life goals that don’t fit neatly into broad mutual fund categories like large-cap or hybrid funds. SIFs allow fund houses to create unique strategies for specific purposes, making investing more aligned with life events and financial goals.
Yes and no.
✔️ Like regular mutual funds, SIFs pool investor money and invest in securities.
❌ But unlike regular funds, SIFs are not restricted to SEBI’s 36 predefined categories. This gives AMCs the flexibility to design unique offerings outside the usual labels.
You can expect funds like:
Retirement-focused Funds |
Child Future Planning Funds |
Global Opportunity Funds |
ESG or Climate-Themed Funds |
Sector-Specific Bets (like EV, healthcare, AI) |
Smart Beta or Strategy-driven Funds
Not at all. SIFs are backed by a SEBI regulation that ensures transparency, risk disclosure, and proper fund management. While AMCs will get more creative, the idea is to give investors better choice and focus.
Yes. Since many SIFs might be concentrated or thematic, they can carry higher risk than diversified funds. For example, a fund investing only in electric vehicles may perform poorly if the EV sector underperforms.
🔍 Review the riskometer and investment objective carefully before you invest.
Like other funds, SIFs will be benchmarked to a relevant index, but since some SIFs are unique, AMCs may also choose custom benchmarks. You’ll need to focus on consistency, risk-adjusted returns, and fund manager experience.
Yes, SIP (Systematic Investment Plan) functions in SIFs the same way it does in regular funds. In fact, SIP is the best way to invest in goal-based SIFs, like child education or retirement plans, where you need discipline and long-term investing.
Most SIFs are designed for medium to long-term goals. Some may have lock-ins or exit loads to encourage staying invested. If your goal is less than 3 years away, consider safer debt-based options instead.
As of now, not all SIFs offer tax benefits. Only those which meet the criteria under Section 80C (like ELSS) will be eligible. But expect new tax-saving SIFs to be launched in future under this model.
Yes, NRIs can invest in SIFs just like in other mutual funds, subject to the usual KYC and FEMA regulations.
✔️ Start with your goal: retirement, education, global investing, etc.
✔️ Align the fund’s objective with your investment timeline and risk tolerance.
✔️ Review the AMC’s reputation, fund manager, expense ratio, and past performance (if available).
Or simply consult a trusted financial advisor (like us at Imperial Money) who can guide you with goal alignment.
Yes, many AMCs have started launching SIFs post-SEBI’s approval in May 2024. Expect more launches in coming months with different themes. For example, ICICI Prudential, Nippon India, and HDFC AMC have all filed for SIFs.
Investors with specific financial goals. |
Investors who want thematic or global exposure. |
Young professionals planning for long-term wealth. |
Parents saving for their child’s future. |
Retirees looking for income with strategy-based investing
If you’re clear about your goal, understand the theme, and can stay invested for 3+ years, SIFs offer a smart new way to invest. They combine the structure of mutual funds with the customization of financial planning.
As always, let your investment serve your life’s purpose, not just chase returns.
SIFs are designed for accredited investors or investors meeting SEBI's eligibility criteria. These funds target sophisticated participants who understand the risks of bespoke investment strategies.
The minimum investment amount for Specialized Investment Funds typically starts at ₹10 lakhs, in line with SEBI guidelines for Alternative Investment Funds (AIFs). However, certain strategies or bespoke mandates may have higher minimums. Please contact us to discuss options suited to your needs.
To invest in a Specialized Investment Fund, you typically need to complete Know Your Customer (KYC) requirements and provide:
• Proof of Identity (PAN Card, Passport, or Aadhaar)
• Proof of Address (Utility bill, Aadhaar, Passport, etc.)
• Bank Account Details (Cancelled cheque or statement)
• Income/Net Worth Proof (for regulatory eligibility, if required)
• Photographs (passport-size, as per KYC norms)
• Signed Application / Subscription Form
• FATCA/CRS Declaration (for tax compliance)
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