Question
Specialized Investment Funds (SIFs) were introduced by
SEBI effective April 1, 2025. Consider the following statements: I. To invest in a SIF, an investor must commit a minimum of Rs. 50 lakh per investment strategy with a single AMC. II. The maximum permissible unhedged short exposure in a SIF is capped at 50% of the fund's net assets. III. For certain close-ended or interval SIF strategies, redemption notice periods may extend up to 15 working days. IV. An individual with a minimum net worth of Rs. 7.5 crore, of which at least Rs. 3.75 crore is held in financial assets, is recognised as an accredited investor eligible to invest in SIFs. Which of the above statements are correct?Solution
Statement I is wrong the minimum investment threshold for SIFs is Rs. 10 lakh per PAN across all strategies of one AMC, not Rs. 50 lakh. Statement II is wrong unhedged short exposure in SIFs is capped at 25% of net assets, not 50%. Statement III is correct SIF schemes that are close-ended or interval-based may have notice periods of up to 15 working days for redemptions. Statement IV is correct SEBI defines an accredited investor as one with a net worth of at least Rs. 7.5 crore, with at least 50% (i.e., Rs. 3.75 crore) in financial assets.
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