Specialized Investment Funds - Sundaram Asset Management

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About Select SIF

Select SIF by Sundaram Mutual Fund's is Sundaram Asset Management Company’s foray into the Specialized Investment Fund (SIF) category.

Select SIF is built on the foundation of rigorous research, disciplined fund management, and a deep understanding of Indian markets. It is designed to offer investors access to advanced investment strategies with the regulatory transparency of a mutual fund and the strategic sophistication of alternatives.

With experience in fund management across MF, PMS and AIF strategies, Sundaram Asset Management Company brings that same depth of expertise to the SIF category, crafting sophisticated, strategy-driven investment solutions for a new class of investors.

Established in 1996 and a fully owned subsidiary of Sundaram Finance Limited (SFL), Sundaram AMC manages funds across diverse risks, reward, and liquidity profiles. Committed to making mutual funds accessible to the retail investor, it operates across 80+ branches in India with an office in Dubai and a wholly owned subsidiary in Singapore.

What is a Specialized Investment Fund?

A Specialized Investment Fund is designed to sit between mutual funds and PMS/AIF-style (Portfolio Management Strategy/Alternative Investment Fund) strategies. It keeps the pooled-fund structure but allows more flexible, strategy-heavy approaches such as long-short positioning and derivatives, which ordinary mutual funds generally do not use.

The main problem it solves is giving sophisticated investors a regulated way to access more tactical, market-neutral, or downside-aware strategies without jumping all the way to the higher-ticket PMS/AIF route.

(PMS minimum ticket size = 50L. AIF minimum ticket size 1crore. SIF minimum ticket size 10L.)

How is SIF different?

Parameter	SIF	Mutual Fund	PMS	AIF
Who should invest	Investors looking for sophisticated strategies with tax advantages	First-time and seasoned investors with long-term goals	HNIs who want a dedicated, customised portfolio	Ultra HNIs and institutions open to alternative investment approaches
Minimum Investment	₹10 Lakh (applicable across all SIF strategies)	₹100 (SIP)	Minimum ₹50 Lakh	Minimum ₹1 Crore
How it is set up	Hybrid of MF, PMS, and AIF frameworks while maintaining the tax treatment of a Mutual Fund	A pooled fund structure regulated by SEBI	Each investor holds securities directly in their own name	A privately placed pooled structure with limited public access
Taxation at Investor Level	Follows Mutual Fund tax rules based on the underlying asset type	Taxed according to the asset class held	Every transaction triggers a tax event at the investor's end	Depends on the AIF category
Taxation at Fund Level	Exempt	Exempt	No tax at fund level	Category III funds attract capital gains at 12.5%, business income at 30%, plus applicable surcharge and cess
Expense Ratio	Maximum 2%–2.25% (dependent on the scheme)	Maximum 2%–2.25% (dependent on the scheme)	Combination of fixed management fees and variable performance fees	Combination of fixed management fees and variable performance fees
Leverage	Not permitted	Not permitted	Not permitted	Permitted — total market exposure can go up to twice the fund's actual capital
Use of Derivative Strategies	Unhedged short positions up to 25%, with derivatives permitted for hedging and strategy execution	Permitted for hedging purposes only	Permitted for hedging purposes only	Permitted with broader scope across strategies, depending on the category
Liquidity	Medium to High	High	Medium to High, subject to the investment mandate	Low, subject to the fund's lock-in period