Services · Specialised Investment Funds
For the investor
India is becoming.
India's mutual fund universe was built on a beautiful premise: that everyone, from ₹500 to ₹5 crore, could participate in the country's growth story. That premise holds. But as wealth grows and investors mature, so does the need for strategies that can do more than simply go up.
The new mandate
One fund. Two directions.
Mutual funds were always designed with one direction in mind. SIF changes the mandate.
Every Mutual Fund
One direction only
Falls with the market. No mechanism to profit from a decline.
Specialised Investment Fund
Both directions: long and short
The same portfolio profits whether markets rise or fall. The manager backs stocks to rise and fall simultaneously.
↑ + ↓
Dual-direction mandate
Apr '25
Live in India
Long Position
Backing a stock to rise
Buy the stock, hold it, and profit when the price goes up. Every regular mutual fund works exactly this way: it only wins when the stocks it holds go up.
Short Position
Backing a stock to fall
Borrow and sell the stock now, buy it back later at a lower price, pocket the difference. The portfolio profits when the stock falls. No regular mutual fund can do this.
A SIF manager runs both in the same portfolio, backing the stocks they believe will rise and betting against the ones they expect to fall. This is the long-short mandate, and it's what separates SIF from every mutual fund category that existed before April 2025.
Filling the gap
The bridge between access and ambition.
India always had ₹500 mutual funds for everyone, and ₹50 lakh PMS for the few. For the investor building serious wealth between those two worlds, there was nothing. A 10,000× jump from accessible to exclusive with no rung in between. SIF fills that gap. Deliberately.
Minimum investment amounts shown. AMCs offering SIF must have 3+ years of operation and ₹10,000 Cr AUM, SEBI's credibility floor.
What you can access
Three strategy universes.
Long, short, and everything in between.
Equity-Oriented
LTCG 12.5% · STCG 20%
Same as equity mutual funds. Favorable.
- Diversified equity portfolio across large, mid, and small caps
- Simultaneously short stocks or indices where the manager sees weakness
- Generates returns in both rising and falling markets
3 strategies within equity
Flexi-Cap / Multi-Cap Style
Equity Long-Short
Mid-Small Centric: First of Its Kind
Ex-Top 100
4 High-Conviction Sectors
Sector Rotation
Fixed income, with a defensive edge.
Debt-Oriented
As per income slab
Taxed based on product structuring.
- Bonds, commercial paper, and corporate debt instruments
- Short positions on stressed instruments, capped at 25% of portfolio
- Alpha generation beyond what pure debt funds can offer
All-weather, all-asset.
Hybrid
Based on structuring
Equity or debt taxation based on composition.
- Allocates freely across equity, debt, REITs, commodities, and derivatives
- No fixed mandate between asset classes
- Manager moves as opportunity or risk evolves, truly unconstrained
The timing
Why now?
₹12,500+ Cr
AUM in under a year
From zero to ₹12,500 crore in under 12 months. Structural adoption, not a spike.
14
AMCs live and active
Top-tier fund houses already running strategies. The category has proven institutional conviction.
April '25
Category launched
Under 12 months old. The early-mover window for advisors is still open.
₹10 Lakh
Minimum ticket
PMS-level strategies at one-fifth the PMS entry point.
SIF Industry AUM
India's SIF category crossed ₹12,500 crore in under twelve months.
That is not a trend. That is a structural shift in what Indian investors are asking for.
SEBI's mandatory entry bar: every AMC must clear both before launching a single strategy
3+
Years operating
Minimum history required
₹10K Cr
Assets under management
Minimum AUM required
Not every AMC qualifies. Only fund houses that clear both thresholds are permitted to launch SIF strategies. This is the credibility floor SEBI built in.
14 AMCs have cleared the bar and are live today.
Why Mega
We didn't wait to understand it.
We learned it before our clients needed us to
When SEBI published the SIF framework, we were inside the mechanics from day one. SIF is a new language. We chose to learn it early.
We know the answers before they finish talking
Deliberate fluency in options pricing, basis risk, and short-book construction. When we sit across from a portfolio manager, we are asking because we understand.
We fit SIF into your complete picture
A SIF that duplicates what you already own is a cost, not a conviction. We coordinate with fund managers on sector exposure and correlation to make sure it isn't.
Rajkot · Since 1985
Before you invest
Who can invest. How it's taxed.
Minimum ticket
₹10 Lakh
per PAN, per asset manager
The floor applies per investor PAN, per AMC, not per individual strategy. You can participate across multiple strategies within the same AMC under a single ₹10 lakh entry.
Taxation by strategy type
Equity-Oriented SIF
Equity MFSame favorable taxation as equity mutual funds.
Hybrid SIF
Structure-basedEquity taxation applies if equity allocation exceeds 65%. Otherwise taxed as debt.
Debt-Oriented SIF
Income slabGains added to income and taxed at your applicable slab rate.
Taxation rules are subject to change by the government. Please consult your tax advisor for your specific situation before investing.
Start with a conversation
Does SIF belong in your portfolio?
Every SIF strategy sits differently in different portfolios. We evaluate your existing equity book, your tax position, and your risk appetite, then tell you honestly whether SIF adds conviction or just overlap.
Mutual fund investments are subject to market risks. Specialised Investment Funds carry additional risks including liquidity constraints, derivative exposure, and concentrated sector positions. Please read all scheme-related documents carefully before investing.