New Delhi, Feb. 8 -- Nearly a year after the Securities and Exchange Board of India (Sebi) introduced Specialized Investment Funds (SIFs), the market has stuck to the equity long-short space and stayed far from debt plans.

Since the product's launch in April last year, every SIF that has come to market has fallen into just three of the seven strategies permitted by the regulator-equity long-short, equity ex-top 100 long-short and hybrid long-short. No fund house has launched either of the two debt strategies or a sector rotation equity fund, or an active asset allocator fund under the hybrid category.

Among the launched products are SBI Mutual Fund's Magnum Hybrid Long Short, Tata Mutual Fund's Titanium Hybrid Long Short SIF. ITI Mutual...