Markets regulator Sebi on Thursday came out with a regulatory framework for Specialized Investment Funds (SIFs) requiring a minimum investment of Rs 10 lakh across all strategies. The new framework will be applicable from April 1, the Securities and Exchange Board of India (Sebi) said in its circular. The SIF has been introduced to bridge the gap between mutual funds and PMS in terms of portfolio flexibility. Under the framework, investors are required to invest at least Rs 10 lakh across all SIF strategies. This rule does not apply to accredited investors.
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