Guide · from SEBI's SIF rules

How to invest in a SIF

You invest in a Specialised Investment Fund (SIF) through the fund house or a SIF-certified mutual fund distributor, with a minimum of ₹10 lakhacross a SIF's strategies, counted per PAN. Here are the steps, and the SEBI rules behind each one.

1. 1

   Check the ₹10 lakh minimum

   Your total investment across all the investment strategies of one SIF, counted at PAN level, must be at least ₹10 lakh. Investments in the same fund house's regular mutual fund schemes do not count towards it. Accredited investors are exempt from the minimum, as are the mandatory investments fund houses make for their designated employees.

   Source: SEBI (Mutual Funds) Regulations, 2026, Reg. 49(1); Master Circular for Mutual Funds, para 21.4.1–21.4.2

2. 2

   Pick a strategy, then read its ISID

   SEBI permits seven SIF investment strategies across equity-oriented, debt-oriented and hybrid categories, each with its own limits and minimum redemption frequency (see how SEBI classifies SIFs). Each strategy's offer document, the Investment Strategy Information Document (ISID), discloses its subscription and redemption frequency and any notice period. Each strategy also carries a risk band from level 1 (lowest) to level 5 (highest), reviewed monthly.

   Source: Master Circular for Mutual Funds, para 21.3, 21.11 and 21.12; SEBI SIF FAQs, B46

3. 3

   Invest through the fund house or a SIF-certified distributor

   You can invest directly with the fund house, or through a mutual fund distributor with a valid ARN who holds the NISM Series-V-D (Mutual Fund – Specialized Investment Fund Distributors) certification. Distributors who obtained the earlier NISM Series-XIII certification on or before 21 September 2026 may continue until it expires, provided they also hold NISM Series-V-A.

   Source: SEBI circular, 21 Jul 2026 (Master Circular para 21.10 as modified); SEBI SIF FAQs, C1–C4

4. 4

   SIP, SWP and STP are possible — above the minimum

   Fund houses mayoffer SIP, SWP and STP for SIF strategies, but only while ensuring your investment meets the ₹10 lakh minimum. Check the strategy's ISID for how it applies.

   Source: Master Circular for Mutual Funds, para 21.4.3

5. 5

   Stay above the minimum when you redeem

   If your own redemption, transfer or sale takes your total below ₹10 lakh (an active breach), all your units in that SIF are frozen for debit and you get 30 calendar daysto top up. If you don't, the units are redeemed automatically at the NAV of the next business day after the 30th day. A fall caused by NAV movement (a passive breach) is not a violation — but you may then only redeem your entire remaining investment.

   Source: Master Circular for Mutual Funds, para 21.4.4–21.4.5

6. 6

   Know how you get your money back

   SEBI sets a minimum redemption frequency for each category: daily or less often for equity-oriented strategies, twice a week or less often for hybrid strategies, and once a week or less often for debt-oriented strategies; the ISID states the actual frequency. A fund house may apply a notice period of up to 15 working days, in which case you receive the NAV at the end of the notice period. Units of interval and close-ended strategies are listed on a stock exchange as an exit route.

   Source: Master Circular for Mutual Funds, para 21.3, 21.7 and 21.8; SEBI SIF FAQs, B45

Rules summarised from SEBI regulations, circulars and FAQs as published (checked October 2026); the investment strategy's own documents (ISID) govern each fund. This page is for information only and is not investment, tax or legal advice. Investments in Specialized Investment Fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility. Please read all investment strategy related documents carefully before making the investment decision. Mutual fund investments are subject to market risks, read all scheme related documents carefully. SIFcase is operated by Aureva Capital Private Limited, an AMFI-registered mutual fund distributor (ARN-346247), is not a SEBI-registered investment adviser, and may earn commission on investments made through it.