Edelweiss Asset Management Limited announced that they have received in-person approval from the Securities and Exchange Board of India (SEBI) for its entry into Specialized Investment Funds (SIFs). The AMC has officially launched this offering under altiva SIF, its newly minted platform dedicated to SIF offerings.
With this move, Edelweiss AMC becomes one of the first few asset managers in the country to foray into the emerging SIF segment. Other major players such as Quant, Axis and Nippon have announced their plans to enter the space.
“This is a very interesting category,” said Radhika Gupta, MD & CEO of Edelweiss AMC during a media event. “There has always been a need for this kind of offering, but building the right platform has been the real challenge," she said adding that with SEBI’s approval in place and altiva SIF launched, they are poised to unlock new possibilities for investors.
The company is currently awaiting final SEBI approval for its first SIF product, which is expected to debut in the hybrid category. Edelweiss AMC plans to scale its SIF offerings in a phased manner.
The Specialized Investment Fund (SIF) is a new category of investment product introduced by SEBI to bridge the gap between Mutual Funds (MFs) and Portfolio Management Services (PMS). The regulator believes that while over the years, India’s financial market has witnessed an expansion in investment products with varying degrees of risk, complexity, and regulatory oversight, a gap exists between mutual funds and PMS. SIFs aim to provide a middle ground, offering portfolio flexibility while ensuring regulatory compliance and investor protection. The regulator had originally presented the idea of a new asset class in a consultation paper in July 2024.
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