NFO Alert: SBI Mutual Fund Launches Magnum Equity Ex-Top 100 Long Short Fund Under SIF

SBI Mutual Fund has launched the Magnum Equity Ex-Top 100 Long Short Fund under the Specialised Investment Fund (SIF) framework. The New Fund Offer (NFO) will be open for subscription from August 7, 2026, to August 20, 2026.  

The scheme is open-ended, carries no lock-in period, and offers Growth and IDCW plans. Gaurav Mehta has been appointed as the fund manager, while the BSE 500 Total Return Index (TRI) will serve as the benchmark. 

Focus on Companies Beyond the Top 100 

The scheme is to invest mainly in listed companies outside the top 100 by market capitalisation. Along with taking long positions in equities, the portfolio will use limited short positions through equity derivatives.  

According to the scheme information, derivatives may be used to reduce portfolio risk and manage market fluctuations. The fund house has clarified that the investment objective is not assured. 

Investment Allocation 

Under the investment mandate, 65% to 100% of the portfolio will be invested in equity and equity-related instruments of companies beyond the top 100 by market capitalisation, including REITs.  

The scheme may also allocate up to 35% each to top-100 companies, debt and money market instruments, overseas securities and mutual fund units, including Gold and Silver ETFs.  

Exposure to InvITs is limited to 20%, while investment in gold through mutual fund schemes cannot exceed 5% of the portfolio. 

Eligibility and Investment Amount 

The strategy has been introduced under the SIF framework, which has a higher investment threshold than regular mutual funds. New investors must invest at least ₹10 lakh to participate in the scheme.  

Existing Magnum SIF investors can invest ₹1 lakh per application, provided their total investment across SIF strategies remains at least ₹10 lakh at the PAN level. 

Exit Load  

An exit load of 1% will be charged if units are redeemed or switched within three months from allotment. No exit load will apply after three months.  

Read More: NFO Alert: Axis Mutual Fund Launches Axis Nifty Energy Index Fund! 

Conclusion 

The Magnum Equity Ex-Top 100 Long Short Fund will be available for subscription until August 20, 2026. The strategy follows an equity-focused approach centred on companies outside the top 100 by market capitalisation. 

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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.   
 
Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.