New Delhi, Nov. 18 -- The concept of specialized investment funds (SIFs) was allowed by the Securities and Exchange Board of India (Sebi), in the space between mutual funds meant for the masses and portfolio management schemes and alternative investment funds (PMS/AIFs) meant for the classes. SIFs can have a different risk-return profile than MFs, and the target audience in the mass affluent segment is expected to have a better understanding of the risk-return profile than the masses.

After the initial stage of boardroom deliberations and specific approvals from Sebi, a few SIFs have been launched, and more are in the offing. We discuss how you should look at it for your investment portfolio at this point in time.

To understand the diff...