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SEBI issued a regulatory clarification for Specialized Investment Funds (SIF), modifying two key provisions. First, paragraph 12.27.2.4 regarding securities maturity in interval schemes is exempted for SIF Interval Investment Strategies. Second, the minimum investment threshold is set at INR 10 lakh across all investment strategies per PAN, with an exception for mandatory employee investments. The circular, issued under SEBI Act Section 11(1) and Mutual Funds Regulations, aims to protect investor interests and regulate securities market development, effective immediately from the circular's date.
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