SEBI Clears First Specialised Investment Funds (SIFs)
Why in the news
SEBI issued first approvals for SIFs, a new mutual fund tier aimed at sophisticated investors.
Key facts
- Strategies allowed: long-short equity and debt schemes.
- One more AMC has approval; two others were close.
- Limits: long derivative positions up to 50%; unhedged short exposure up to 20%.
| Quant fund | Focus |
|---|---|
| qsif Equity Long-Short | All market caps |
| qsif Equity Ex-Top 100 Long-Short | Midcaps, smallcaps |
Distribution bottleneck
- About 300 distributors are registered with AMFI.
- They must clear the NISM-Series-XIII exam; AMCs run training.
- CEO Sandeep Tandon expects early hiccups.
Exam angle
- Ticket size: Rs 10 lakh.
- Exam for distributors: NISM-Series-XIII.