The architects of change

Much can change in a year. Since our last anniversary edition, the mutual fund industry has been reshaped: part regulation, part innovation. The big headline was SEBI’s new specialised investment funds (SIF) framework. It opens the door for advanced strategies like long–short but with higher ticket sizes and clear separation from retail-first schemes. Early platforms are already up, with more AMCs preparing to follow. Rules got sharper, too. NFO (new fund offer) money must now be invested within 30 business days, ending the long lags before portfolios mat

This article was originally published on October 20, 2025.