Features |
Mutual Fund Schemes (MFs) |
Specialized Investment Funds (SIFs) |
Portfolio Management Services (PMS) |
Alternative Investment Funds (AIFs) |
Regulatory Oversight |
High |
High |
Moderate |
Moderate |
Investment Flexibility |
Relatively Low |
Very High |
High |
Very High |
Minimum Investment |
₹500 onwards |
₹10 lakhs* |
₹50 lakhs |
₹1 crore |
Target Investors |
Retail, HNI, Institutional |
HNI, Institutional |
HNI, Institutional |
Sophisticated HNI, Institutional |
Strategies |
Primarily Long-only |
Long-Short |
Tailored (Long-Only) |
Diverse (PE, Hedge Funds) |
Transparency |
High |
High |
Moderate |
Moderate |
* Not applicable to the following accredited investors:
* Individuals, HUFs and Family:
Annual Income >= ₹2 crores OR Annual income > ₹1 crore + Net Worth > (Financial Assets >= ₹2.5 crores) OR Net Worth >= ₹7.5 crores (Financial Assets >= ₹3.75 crores)
Trusts other than Family Trusts:
Net Worth >= ₹50 crores
Body Corporates:
Net Worth >= ₹50 crores