SBI Mutual Fund Launches Its First Multi-Asset Specialised Investment Fund

SBI Mutual Fund has introduced the Magnum Hybrid Long Short Fund, its first scheme under the Specialised Investment Fund (SIF) framework. The fund follows a multi-asset approach, with exposure to equities, debt, derivatives, and REITs/InvITs.

Subscription Window and Operations

The New Fund Offer (NFO) opens on October 1, 2025, and closes on October 15, 2025. Investors can subscribe on all business days. Redemption will be permitted twice a week, specifically on Mondays and Thursdays.

Minimum Investment Rules

The minimum investment amount has been set at ₹10 lakh, while additional investments start from ₹10,000. Both lump sum contributions and systematic investment plans (SIPs) are available to investors.

Portfolio Allocation

The scheme will allocate 65%-75% of its assets to equities, with hedged positions ranging from 0%-75%. Unhedged short derivative exposure will be capped at 25%. Debt and money market instruments will account for 25%-35%, and up to 10% may go to REITs and InvITs.

The fund will seek income through strategies such as covered calls and arbitrage in equity and debt markets. It will also hold unhedged equity positions to target long-term capital appreciation.

Tax Structure

Under the SIF framework, long-term capital gains held for more than 12 months are taxed at 12.5% plus surcharge and cess. Investors can claim an exemption of up to ₹1.25 lakh per financial year.

Benchmark and Management

The benchmark index is the NIFTY 50 Hybrid Composite Debt 50:50 Index TRI. The fund will be managed by Gaurav Mehta, CFA, Head – SIF, Equity, at SBI Funds Management.

As of August 31, 2025, SBI Mutual Fund reported assets under management (AUM) of about ₹11.9 lakh crore.

Read More: SBI Mutual Fund Introduces Dynamic Asset Allocation Active Fund of Fund!

Conclusion

The Magnum Hybrid Long Short Fund marks SBI Mutual Fund’s entry into the SIF space with a structure combining equity, debt, derivatives, and alternative instruments.

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.