%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(26).png "SEBI Clarifies Rs 10 Lakh Minimum Investment for SIFs at PAN Level")
Explanation and Highlights:
a) Per scheme level
b) PAN level across all SIFs under a single AMC
c) Only for non-accredited investors
d) Only for lump-sum investments
- PAN-Level Aggregation: The Rs 10 lakh minimum investment requirement applies cumulatively across all SIF strategies under a single Asset Management Company (AMC) at the PAN level. This ensures transparency and prevents investors from splitting investments across schemes to bypass the threshold.
- Exemptions: Accredited investors and mandatory investments made by AMC employees under the "skin-in-the-game" rule are exempt from this requirement.
- Systematic Investment Options: Investors can opt for systematic investment plans (SIPs), systematic withdrawal plans (SWPs), or systematic transfer plans (STPs) under SIFs, provided the total investment remains above Rs 10 lakh.
- Interval Strategies: SEBI has granted flexibility to interval strategies under SIFs, exempting them from strict maturity-matching rules. This allows fund managers to invest in longer-tenure or less liquid instruments.
- Impact on Investors: The clarification simplifies portfolio diversification across multiple SIF strategies within the same AMC, ensuring efficient capital allocation.
Question:
Q.1 As per SEBI, The Rs 10 lakh minimum investment requirement for Social Impact Funds (SIFs) applies at which level?a) Per scheme level
b) PAN level across all SIFs under a single AMC
c) Only for non-accredited investors
d) Only for lump-sum investments
Answer: b) SEBI clarified that the Rs 10 lakh threshold is calculated cumulatively across all SIF strategies under a single AMC at the PAN level, preventing investors from splitting investments to bypass the requirement.
