New Delhi, July 24 -- Specialized Investment Funds (SIFs) are positioned between mutual funds (MFs) and high-ticket investment products such as portfolio management services (PMS) and alternative investment funds (AIFs). In an interview with Mint, Bhavesh Jain, president and co-head, factor investing, Edelweiss Mutual Fund, explains how SIFs differ, where they fit in an investor's portfolio and what investors should expect in terms of returns, risk and liquidity.

SIF is becoming a very interesting public investment vehicle. If you look at the options available today, a retail investor can start with a mutual fund with small amounts. But if he wants to upgrade, the next available options are PMS and AIF, with minimum ticket sizes of Rs.50...