Description
BSE announces activation of Franklin India Mutual Fund's Specialized Investment Funds (SIF) on BSE StAR MF Platform effective April 9, 2026, with SAPPHIRE EQUITY LONG-SHORT SIF NFO scheme available from April 10, 2026.
Summary
BSE has activated Franklin India Mutual Fund’s Specialized Investment Funds (SIF) on the BSE StAR MF Platform effective April 9, 2026, in accordance with SEBI’s regulatory framework circular dated February 27, 2025. The SAPPHIRE EQUITY LONG-SHORT SIF NFO scheme will be available for order routing from April 10, 2026.
Key Points
- FRANKLIN INDIA MUTUAL FUND_SIF activated on BSE StAR MF Platform from April 9, 2026
- NRI and Minor investor transactions are permitted under SIF schemes via BSE StAR MF Platform
- NRI applications are NOT accepted from investors in: USA, Canada, Iran, Cuba, North Korea, Syria, Russia, Pakistan, and Bangladesh
- SAPPHIRE EQUITY LONG-SHORT SIF – NFO scheme available for order routing from April 10, 2026
- Detailed transaction acceptance process for SIF is provided in Annexure III
Regulatory Changes
This activation is pursuant to SEBI circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/26 dated February 27, 2025, which established the Regulatory Framework for Specialized Investment Funds (SIF). No new regulatory changes are introduced by this notice; it implements the existing SEBI SIF framework for Franklin India AMC.
Compliance Requirements
- BSE members must note the restricted country list for NRI applications and ensure no transactions are processed for investors from the 9 listed countries
- Members should follow the detailed process outlined in Annexure III for SIF transaction acceptance on BSE StAR MF Platform
- Members must adhere to the Minimum Investment Threshold monitoring guidelines detailed in Annexure II
Important Dates
- April 9, 2026: FRANKLIN INDIA MUTUAL FUND_SIF activated on BSE StAR MF Platform
- April 10, 2026: SAPPHIRE EQUITY LONG-SHORT SIF – NFO scheme available for order routing
Impact Assessment
This circular has a moderate operational impact on BSE members and mutual fund distributors dealing in Franklin India products. It expands the SIF product offering available through BSE StAR MF Platform, providing members a new category of investment vehicle to offer clients. The restricted country list for NRI applications requires compliance attention to avoid processing invalid transactions. No impact on equity markets or listed securities.
Impact Justification
Operational notice enabling a new fund category on BSE StAR MF Platform; affects mutual fund distributors and members transacting in Franklin India SIF schemes but does not alter broader market regulations.