What a mutual fund distributor needs to distribute SIFs, what to explain to a client before an investment, and where each fund house publishes its SIF notices.
The short answer
To distribute SIFs you need NISM Series V-D and a valid ARN, and every EUIN on a Regular-plan application must hold V-D too. Distributors who passed Series XIII by 21 September 2026 may continue until it expires if they also hold V-A. An existing mutual fund empanelment can be extended to a fund house’s SIF by addendum.
Sources: SEBI FAQs on SIFs, Parts B and C (22 September 2026), C1–C10; SEBI SIF circular of 27 February 2025. Checked 5 November 2026.
| Certification | NISM Series V-D (Mutual Fund – Specialized Investment Fund Distributors). It covers mutual funds too, so V-A is not also needed. (FAQ C1) |
|---|---|
| Transition | If you passed NISM Series XIII on or before 21 September 2026, you may continue to distribute SIFs until it expires, provided you also hold a valid V-A. Then V-D is required. (FAQ C4) |
| Registration | A valid ARN from AMFI. (FAQ C2) |
| Employees | For Regular-plan investments, both the ARN and the EUIN on the application must have a valid V-D certificate. (FAQ C6) |
| Empanelment | Your existing partner agreement with a fund house can be extended to its SIF by an addendum, once V-D is cleared and AMFI registration is complete. Each fund house sets its own forms and steps. (FAQ C7) |
| Commission | As set by each fund house; AMFI’s circulars for ARN holders apply to SIF distribution too. (FAQ C8) |
| Transactions | Confirmations, reverse feeds and rejection (NIGO) messages come through the fund house, RTA or platform; the investor should get a clear reason for any rejected transaction. (FAQ C9) |
| Promotional material | SIF advertisements and promotional material must carry SEBI’s standard warning, word for word: “Investments in Specialized Investment Fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility. Please read all investment strategy related documents carefully before making the investment decision.” (circular para 13.4) |
In clear language (FAQ C10):
Our printable client note for each strategy sets these facts out on one page, with the disclosures, for you to go through with a client.
18 fund houses run 36 live SIF strategies. Each SIF has its own brand and website, as SEBI requires. We read every fund house’s notices page each week for our changes log.
Empanelment forms, portal steps and commission are each fund house’s own; ask its distributor desk. Trustner Asset Services (ARN-286886) works with sub-brokers and partners: see the partners desk.
Information for distributors, not legal advice; SEBI’s FAQs say they are not a legal document, and the circulars and regulations govern. Trustner Asset Services Pvt. Ltd. is an AMFI-registered Mutual Fund & SIF Distributor (ARN-286886).