The next step beyond mutual funds.

A Specialized Investment Fund is a SEBI-regulated category introduced in 2025, run by the same asset management companies that run mutual funds. Think of it as a mutual fund with wider permissions: strategies can be more focused, more tactical, and can even take long-short positions that regular funds cannot.

The entry point is a minimum of ₹10 lakh per AMC's SIF platform. That floor exists for a reason: these strategies carry more strategy risk than a diversified mutual fund, and SEBI wants them in experienced hands.

You still get pooled, unitised investing, professional management and SEBI oversight. What changes is the freedom given to the fund manager, and the responsibility on you to understand what you own.