SBI Mutual Fund Collects ₹1,100 Crore in Magnum Hybrid Long Short Fund Launch

SBI Mutual Fund has collected around ₹1,100 crore through its Magnum Hybrid Long Short Fund, the first product under the Specialised Investment Fund (SIF) category, as per the news reports.

The New Fund Offer (NFO) was open for subscription from October 1 to October 15, 2025. During this period, the fund received more than 10,000 applications. This is the first SIF offering from SBI Mutual Fund since SEBI introduced the new investment structure earlier this year.

About the SIF Framework

The Specialised Investment Fund framework was launched by SEBI to create a regulated category that lies between traditional mutual funds and other investment structures such as Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs).

Under the framework, investors must invest a minimum of ₹10 lakh, counted across all SIF strategies offered by a single AMC, based on their PAN.

Fund Structure and Management

The Magnum Hybrid Long Short Fund is managed by Gaurav Mehta, CFA, who heads the SIF - Equity division at SBI Mutual Fund. The fund is structured to follow a hybrid investment strategy aimed at achieving risk-balanced returns.

Investment Approach

The scheme will use derivative strategies such as covered calls and arbitrage between the cash and derivatives markets. It will also invest in debt and money market instruments to manage volatility. Alongside, the fund will take unhedged equity positions to seek long-term capital appreciation.

Read More: SIP Calculator: How ₹25,000 SIP Beats ₹50,000; Why Longer Tenure Matters More Than Larger Amounts

Conclusion

With the collection of nearly ₹1,100 crore, SBI Mutual Fund’s first SIF offering has received a strong initial response. The launch of the Magnum Hybrid Long Short Fund marks the beginning of investor participation under SEBI’s newly introduced SIF category.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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