SEBI Adds SIF Section to Compliance Test Report
Why in the news
SEBI has brought in a revised compliance reporting format so that mutual funds and AMCs running Specialised Investment Funds report in a uniform and tighter manner.
Key facts
- The Compliance Test Report (CTR) now has a dedicated SIF section.
New disclosures required from AMCs
- Adherence to the minimum investment threshold.
- Certification of SIF fund managers, once SEBI notifies it.
- Whether strategies match SEBI-approved characteristics.
- Limits on fees and expenses.
- Investment restrictions, including single-issuer exposure caps for debt and equity.
About Specialised Investment Funds
| Feature | Detail |
|---|---|
| Nature | New mutual fund product category for sophisticated investors |
| Position | Between regular mutual funds and AIFs |
| Investors | High-net-worth and informed investors |
| Strategies | Long-short, sectoral, thematic, quantitative and others |
| Risk and minimum ticket | Higher than regular schemes |
Exam angle
- Document changed: Compliance Test Report, by SEBI.