Description

ICICI Mutual Fund is launching two Specialized Investment Fund NFOs — ISIF Active Asset Allocator Long-Short Fund and ISIF Equity Long-Short Fund — on BSE StAR MF Platform from May 19 to June 2, 2026, with tentative allotment on June 5, 2026.

Summary

BSE has notified members that ICICI Mutual Fund will launch two Specialized Investment Fund (SIF) New Fund Offers (NFOs) on the BSE StAR MF Platform: the ISIF Active Asset Allocator Long-Short Fund and the ISIF Equity Long-Short Fund. The NFO subscription period runs from May 19, 2026, to June 2, 2026, with SIP facility available. Tentative allotment date is June 5, 2026.

Key Points

  • Two SIF NFOs are being launched: ISIF Active Asset Allocator Long-Short Fund and ISIF Equity Long-Short Fund, each available in Regular and Direct Plan – Growth options (4 schemes total).
  • NFO period: May 19, 2026 to June 2, 2026; SIP/XSIP registrations must be authenticated by clients by 3:00 PM on June 2, 2026.
  • All four schemes are classified as EQUITY type with a tentative allotment date of June 5, 2026.
  • Lumpsum purchases on BSE StAR MF Platform will be accepted until midnight on June 2, 2026.
  • Clear funds must be available in the ICCL account by 6:00 PM on June 4, 2026, to be eligible for allotment.

Regulatory Changes

No new regulatory changes are introduced. This notice operationalizes the launch of Specialized Investment Funds (SIFs), a newer fund category, on the BSE StAR MF Platform.

Compliance Requirements

  • Members must ensure clients initiate fund payments by 9:00 AM on T+1 day; transactions without timely fund initiation will be cancelled and CC with ‘N’ flag reported to RTA/AMC.
  • Transactions with initiated payments remain pending until 3:00 PM on the last day of funds pay-out to AMC or T+5, whichever is earlier.
  • Cheque and OTM payments are accepted during the NFO period only if clear funds reach ICCL by 6:00 PM on June 4, 2026.
  • Switch transactions are accepted during the NFO period subject to receipt of funds prior to the allotment date; switch-out funds received on or after the allotment date will not be considered.

Important Dates

  • May 19, 2026: NFO subscription opens
  • June 2, 2026 (3:00 PM): Deadline for SIP/XSIP client authentication
  • June 2, 2026 (midnight): NFO closure for lumpsum purchases on BSE StAR MF Platform
  • June 4, 2026 (6:00 PM): Deadline for clear funds to be available in ICCL account
  • June 5, 2026: Tentative allotment date for all four schemes

Impact Assessment

This circular primarily impacts mutual fund distributors, brokers, and members operating on the BSE StAR MF Platform who facilitate client investments. Investors interested in long-short equity strategies through ICICI Mutual Fund have a new product avenue. The SIF category represents a relatively new fund structure, and members need to carefully follow the payment and transaction cut-off instructions to avoid cancellations. There is no broader market or regulatory impact beyond operational awareness for BSE StAR MF participants.

Impact Justification

Relevant to mutual fund distributors and investors on BSE StAR MF platform; introduces new SIF product category with specific operational instructions for members, but limited to a specific fund house and product launch.