The Securities and Exchange Board of India (“ *SEBI* ”) has taken vital steps to introduce a new investment product/class, Specialized Investment Fund (“ *SIF* ”) with effect from April 1, 2025. On April 11, 2025, SEBI issued a circular specifying procedure on application and investment strategy information document (“ *ISID* ”) for launch of SIF. This circular is in pursuant to the SEBI (Mutual Funds) (Third Amendment) Regulations, 2024 dated December 16, 2024, and SEBI circular dated February 27, 2025, titled ‘Regulatory Framework for SIFs’ and its clarification vide SEBI circular dated April 9, 2025.
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