SEBI Mandates New Compliance for Specialised Investment Funds

• SEBI introduced detailed compliance reporting norms for Specialised Investment Funds (SIFs), integrating them into the existing mutual fund regulatory framework.
• The move follows SEBI's February 2025 decision to establish SIFs as a distinct category for sophisticated investors.
• Existing mutual fund reporting requirements will apply to SIFs, with modified formats for SIF-specific disclosures.
• Asset Management Companies (AMCs) managing SIFs must provide additional disclosures in the Compliance Test Report (CTR), covering investment thresholds, strategies, fees, and restrictions.
• Governance oversight is strengthened with a new Clause 72A in the Half-Yearly Trustee Report (HYTR), requiring trustees to certify SIF compliance and AMC expertise.

Why It Matters: SEBI tightens SIF regulation, integrating new compliance and oversight into existing mutual fund frameworks.