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SEBI, through circular dated 08.01.2026, issued compliance reporting formats for Specialized Investment Funds ("SIFs") ("SIF Circular")1. The SIF Circular follows the earlier SEBI circular dated 27.02.2025 which specified the regulatory framework for SIFs.
SEBI has modified the compliance reporting formats applicable to SIFs by introducing an additional Compliance Test Report ("CTR") format and the Half Yearly Trustee Report ("HYTR") format. Asset Management Companies ("AMCs") managing SIFs are required to report compliance covering 20 new and specific regulatory requirements including minimum investment thresholds, NISM certification, investment strategy characteristics, fee limitations, single issuer limits, derivative restrictions, product differentiation, branding and advertising compliance, disclosure requirements, portfolio disclosures, subscription and redemption provisions, listing requirements, benchmarking, distribution provisions, risk band compliance, and scenario analysis disclosures.
Footnote
1. Compliance reporting formats for Specialized Investment Funds.
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