The Securities and Exchange Board of India (SEBI) has introduced a new asset class called Specialised Investment Fund (SIF) to attract higher-risk investors seeking regulated alternatives. This initiative comes as stock markets flourish and young, risk-taking investors increasingly engage with high-risk instruments like IPOs and cryptocurrencies. SIFs allow minimum investments of ₹10 lakh, managed by professional investment managers, offering flexibility in asset allocation compared to mutual funds. SEBI has also implemented various measures to regulate trading practices and ensure investor protection. The expense structure for SIFs aligns with mutual funds, while accredited investors are excluded from this option.