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of <h1>New Rules for Specialized Investment Funds Under SEBI Regulations Effective April 2025 with Investment Limits and Disclosure Norms</h1> A regulatory framework has been established for Specialized Investment Funds (SIF) under the amended SEBI (Mutual Funds) Regulations, 1996, effective April 1, 2025. Registered mutual funds meeting specified eligibility criteria may establish SIFs, which bridge the gap between mutual funds and portfolio management services by offering greater portfolio flexibility. SIFs must maintain distinct branding and comply with prescribed investment strategies across equity, debt, and hybrid categories, with limits on exposure and derivative usage capped at 25% of net assets for unhedged positions. Minimum investment thresholds of INR 10 lakh apply, except for accredited investors, with active monitoring to prevent breaches. Subscription and redemption frequencies are flexible, with mandatory listing of units for close-ended and interval strategies. Disclosure requirements include risk-band ratings, portfolio details, scenario analyses, and standardized disclaimers. Distribution is limited to certified entities, and compliance with these provisions aims to protect investors and promote market development.
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