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Markets regulator Sebi on Friday introduced a standardized format for applications by mutual funds intending to establish Specialized Investment Funds (SIF) in a bid to ensure uniformity and streamline the processing of such applications. Additionally, Sebi issued a detailed format for the Investment Strategy Information Document (ISID) for SIFs. The introduction of SIFs is intended to bridge the gap between mutual funds and Portfolio Management Services (PMS) in terms of portfolio flexibility. As per Sebi's guidelines, investors are required to invest a minimum of Rs 10 lakh across all SIF strategies. However, this investment threshold does not apply to accredited investors. In its circular, Sebi said that to ensure consistency and efficiency in application processing, mutual funds looking to launch SIFs are required to submit their applications in a prescribed format. Under the ISID format requirements, Asset Management Companies (AMCs) will have to disclose the performance of e