SEBI/HO/IMD/IMD -RAC/P/CIR/2025/54
guidelines · 1992 · State unknown
Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)
Text
CIRCULAR SEBI/HO/IMD/IMD -RAC/P/CIR/2025/54 To, All Mutual Funds All Asset Management Companies (AMCs) All Trustee Companies/ Board of Trustees of Mutual Funds All Registrar and Share Transfer Agents (RTAs) All Recognized Stock Exchanges All Recognized Clearing Corporations All Depositories Association of Mutual Funds in India (AMFI) Madam/ Sir, Subject: Specialized Investment Funds ('SIF') – Application and Investment Strategy Information Document (ISID) formats As stipulated in Regulation 49Y(1) of the SEBI (Mutual Funds) Regulations 1996 ( ' MF Regulations ' ) for launching of investment strategies , Mutual Funds are required to launch Investment Strategies in accordance with the procedure applicable to the schemes of the Mutual Funds, as laid down in Regulation 28 of the MF Regulations . SEBI vide Circulars dated February 27, 2025 ('SIF Circular') and April 09, 2025 specified the Regulatory Framework for Specialized Investment Funds , which, interalia, provides the eligibility criteria for a registered Mutual Fund to establish Specialized Investment Fund, including disclosures in Investment Strategy Information Document ( ' ISID ' ). Pursuant to the above and to ensure uniformity and efficient processing of applications, it has been decided that registered Mutual Funds intending to establish Specialized Investment Funds are required to submit their applications as per the format provided at Annexure I to this Circular. April 11, 2025 In terms of Clause 11 of Annexure A of the SIF Circular, the format of ISID is provided at Annexure II to this Circular . This Circular shall come into force with effect from the date of this Circular . This Circular is issued in exercise of the powers conferred by Section 11(1) of the Securities and Exchange Board of India Act, 1992 reRule TOC
1 · Applicants must submit a completed application form together with supporting documents to the Board.
2 · This application form should be filled in accordance with the SEBI (Mutual Funds) Regulations, 1996 and circulars issued thereunder .
3 · An incomplete application shall be liable to be rejected.
4 · All entries by AMCs must be typed and legible.
5 · In case any further details are required to be submitted, the same shall be given on separate sheets attached to the application form.
6 · The application must be signed by the competent person having authority to do so and all signatures must be in original.
1 · STANDARD OFFER DOCUMENTS
