Redemptions and liquidity · a SIF concept, explained from SEBI’s rules.
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A SIF strategy whose subscriptions or redemptions are not daily. Such strategies, and any close-ended ones, must list their units on a stock exchange.
Investment strategies with subscription or redemption frequency other than daily are classified as interval investment strategies for SIF purposes (circular para 8.2). Units of all close-ended and interval strategies must be listed on a recognised stock exchange to give investors an exit (para 8.1; FAQ A19). Close-ended equity or debt strategies are not permitted (B24), and the interval-fund maturity rule does not apply to SIF interval strategies (clarification of 9 Apr 2025).
Sources: SEBI circular on the SIF framework, 27 Feb 2025; SEBI clarification, 9 Apr 2025; SEBI FAQs on SIFs, Part A, 22 Sep 2026; SEBI FAQs on SIFs, Parts B and C, 22 Sep 2026
Illustrative example. A hybrid strategy that redeems on Tuesdays and Thursdays is an interval strategy, so its units must also be listed; an investor may sell them on the exchange between dealing days, at the market price, if there is a buyer.
Every SIF strategy type, within each strategy’s own offer document. All 36 live strategies are listed on our tracker; each one’s offer document sets its own limits within SEBI’s.
Units of interval and close-ended strategies must be listed on at least one recognised stock exchange, so they can also be sold there between dealing days. Open-ended strategies need not be listed.
No, not for equity or debt strategies: SEBI does not permit close-ended equity or debt SIF strategies. Strategies are open-ended or interval, within what their category allows.
Explanation only, not a recommendation. Trustner Asset Services Pvt. Ltd. is an AMFI-registered Mutual Fund & SIF Distributor (ARN-286886) and may receive commission from fund houses. 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.