These include exempting certain maturity requirements for interval strategies and revising the minimum investment threshold to ₹10 lakh per investor at the PAN level.

SEBI clarified that the maturity-related provision under paragraph 12.27.2.4 of the Mutual Fund Master Circular (June 27, 2024) will no longer apply to Interval Investment Strategies within SIFs. 

Additionally, paragraph 4.1.1 of the original SIF circular (dated February 27, 2025) has been updated to specify that investors must maintain an aggregate investment of at least ₹10 lakh across all SIF strategies under the same PAN.

Investments made by AMCs for designated employees will not be subject to this threshold, as per paragraph 6.10 of the Master Circular. These changes take effect immediately and follow industry feedback and representations by AMFI.

The latest circular is available on SEBI’s website under the “Legal → Circulars” section.

SIFs are a new category of fund strategies designed to offer greater flexibility in portfolio construction and risk management. They allow fund houses to offer differentiated investment strategies with tailored structures aimed at sophisticated investors seeking more customised solutions.