SIF Assets Reach ₹38,224 Crore One Year After Launch

Key Takeaways

• Specialised Investment Funds had combined assets under management of ₹38,224 crore as of September 30, 2026, compared with about ₹2,010 crore in October 2025.
• The category has expanded to 17 asset management companies, while 34 SIFs had published NAV histories by early October.
• A study of the first year of NAV data found that 33 of 34 SIFs were ahead of the Nifty 50 over their respective operating periods, although the schemes have short and varying performance histories.

India's Specialised Investment Fund industry has crossed ₹38,000 crore in assets within roughly a year of becoming operational, establishing the new investment category as a growing part of the country's asset-management market.

Total SIF AUM stood at ₹38,224 crore at the end of September 2026, according to industry data. Business Standard, citing AMFI data, reported that the category had started with around ₹2,010 crore in assets in October 2025. That puts the increase over the first year at more than nineteen times the initial asset base.

September alone saw a sizeable expansion. Total assets increased from ₹31,175 crore in August to ₹38,224 crore in September, a rise of ₹7,049 crore. Seventeen AMCs had SIF offerings by the end of the month.

The asset base remains concentrated. The five largest SIF platforms together accounted for around 83% of industry AUM at September-end, while the top three represented close to two-thirds.

The category has also completed its first meaningful performance period. Moneycontrol analysed 34 SIFs with published NAVs through October 9 and found that 33 were ahead of the Nifty 50 and 30 were ahead of the Nifty 500 over each fund's respective operating period. All 34 recorded a smaller maximum decline than the Nifty 500 during their available histories.

Those numbers need to be read in the context of the category's short track record. The first SIF published its inaugural NAV only on October 8, 2025, meaning individual funds have different start dates and limited histories.

SIFs were created as a regulated investment category offering strategies with greater flexibility than conventional mutual funds. Their first-year expansion shows that the format has gained scale quickly, although the industry's assets are still concentrated across a relatively small number of platforms.