Mirae Asset Mutual Fund has received regulatory approval from SEBI to launch its Specialised Investment Fund (SIF), becoming the third fund house after Edelweiss MF and Quant MF to enter this new category. The fund house will roll out its first SIF in the equity long-short category under the brand name ‘Platinum’.
The SIF structure, introduced by SEBI to bridge the gap between mutual funds and portfolio management services (PMS), is positioned as a new asset class offering greater investment flexibility, a higher risk appetite, and a minimum investment threshold of ₹10 lakh.
SEBI had released a consultation paper on SIFs in July 2024, with the final framework announced earlier this year. The structure is designed to offer investors bespoke investment strategies with the regulatory safeguards and transparency associated with the mutual fund ecosystem.
Swarup Anand Mohanty, Vice Chairman & CEO of Mirae Asset MF, stated: “We will be introducing new strategies under the Platinum SIF platform across equity, hybrid, and fixed income categories in this financial year. These categories reflect the potential directions Mirae Asset may evaluate, in response to investors’ growing interest in more specialised approaches that consider suitability, structure, and transparency.”
The fund house plans to file the Scheme Information Documents (SIDs) in the coming week and aims to launch the fund shortly thereafter.
SIFs empower asset management companies to introduce customised strategies such as long-short equity, sectoral rotation, and multi-asset diversification. These strategies offer exposure to niche investment opportunities often outside the scope of traditional mutual fund mandates.