New Delhi, June 1 -- Specialised Investment Funds (SIFs) are investment instruments that sit between Portfolio Management Services (PMS) and Mutual Funds. They are developed and evolved for investors who aspire to pursue more advanced investment and wealth management strategies than mutual funds, while still offering a lower entry barrier than PMS, with very stringent and robust regulatory oversight.

Furthermore, SIFs are especially meaningful for investors who have a clear understanding of market risks and related complications associated with equity investments.

Investors in this asset class often seek access to strategies such as hedging and long-short positions, which are generally unavailable in traditional mutual funds and similar...