Fund houses and distributors · a SIF concept, explained from SEBI’s rules.
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The certification a mutual fund distributor needs, with a valid ARN, to distribute SIFs. It also covers ordinary mutual funds.
A mutual fund distributor may distribute SIFs after obtaining NISM Series V-D (Mutual Fund – Specialized Investment Fund Distributors) and registering with AMFI; V-D holders need not also hold V-A (FAQ C1), and a valid ARN is required (C2). Holders of NISM Series XIII obtained on or before 21 September 2026 may continue until it expires if they also hold V-A (C4). EUIN holders must also be V-D certified (C6). The original circular required Series XIII (para 10.1).
Sources: SEBI circular on the SIF framework, 27 Feb 2025; SEBI FAQs on SIFs, Parts B and C, 22 Sep 2026
Example. Trustner Asset Services distributes SIFs as an AMFI-registered Mutual Fund and SIF Distributor, ARN-286886. Free NISM V-D mock tests are on our partner pages.
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.
NISM Series V-D (Mutual Fund – Specialized Investment Fund Distributors) and a valid ARN. Distributors who passed NISM Series XIII by 21 September 2026 may continue until it expires, provided they also hold Series V-A.
By commission set by each fund house, under AMFI's rules for ARN holders, paid out of the Regular plan's expenses. Direct plans carry no distributor commission.
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.