Magnum Hybrid Long Short
Our view on the fund, the AMC, the strategy, the performance & the investment team.
IME's Review of Magnum Hybrid Long Short
| Fund Rating | Strategy Rating | Performance Rating |
|---|---|---|
Upgrade | Upgrade | Upgrade |
View on the Fund
Magnum Hybrid Long Short Fund follows an investment strategy which is fairly similar to MFs in the Arbitrage + Fixed Income category, with a small allocation (upto 10% of portfolio) for REITs & InVITs. With no major complex derivative-based strategies, and only a small allocation to REITs & InVITs, there is limited differentiation that Magum Hybrid Long-Short SIF offers to investors over existing strategies in mutual funds. That said, it also accordingly has very low levels of incremental risk, so investors keen on taking small steps towards gaining exposure to this new asset class can consider an investment with limited risk related to this being a nascent structure.
Strategy
Steady Income with Controlled Volatility
Fund's Strategy View
The fund effectively operates fairly similar to a Arbitrage + Fixed Income strategy, with the following asset allocation strategy - Hedged Equity Exposure (mostly Arbitrage): 55 - 75% - Debt: 25-35% - REITs/Invits: 0-10% - Net Equity Exposure: limited to 0-10% - Gross Equity Exposure: 65-75%
Fund Performance
We refrain from evaluating the fund since it is yet to mature (less than 5 years).
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| Magnum Hybrid Long Short |
Performance as of: 31-Jan-26 | Inception Date: 01-Oct-25 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Gaurav Mehta | 4-star rated FM
Head- SIF | 20 yrs Experience | 1 yrs at current firm
Past Experience: SBI AMC, Ambit, Edelweiss
Gaurav Mehta is the Head – SIF Equity at Magnum SIF (SBI MF) and brings over 19 years of experience in Indian equity markets. He joined SBI AMC in November 2018 as an Equity Analyst and was subsequently appointed Fund Manager for SBI Mutual Fund schemes. In October 2021, he was elevated to CIO – Alternatives Equity, during which he managed multiple strategies, including the SBI Optimal Equity Fund, a Category III long–short AIF, for nearly three years. Prior to SBI, he worked as a Portfolio Manager and earlier as an institutional equity research analyst at Ambit, and began his career at Edelweiss Capital in 2006.
IME's Review of Magnum SIF (SBI)
| AMC Rating | Pedigree Rating | Team Rating | Philosophy Rating |
|---|---|---|---|
Upgrade | Upgrade | Upgrade | Upgrade |
View on AMC
We maintain a neutral stance on the SIF arm of SBI Mutual Fund. While the SIF structure provides access to more sophisticated and differentiated investment strategies, it remains relatively new and lacks a meaningful track record to assess its effectiveness fully. This warrants caution, given the higher complexity and risk involved. While SBI is a highly regarded Mutual Fund house, it may be prudent to wait for the SIF strategies to mature before aggressively investing.
AMC's Pedigree
Magnum SIF is backed by SBI MF, one of India’s largest asset manager, which combines the stability of a public-sector institution with private-sector execution capabilities. While the SIF platform itself is new, its credibility is anchored in SBI Mutual Fund’s decades-long operating history across market cycles and its track record of managing large-scale public market strategies across asset classes.
AMC Team
Magnum SIF is backed by SBI Mutual Fund’s broader investment ecosystem, leveraging the firm’s in-house equity, debt and derivatives expertise and established investment processes. The platform is led by Gaurav Mehta, Head – SIF Equity, who brings nearly two decades of market experience, including managing long–short and alternative strategies, with prior roles at Ambit and Edelweiss
Investment Philosophy
Magnum SIF does not adhere to a single overarching investment philosophy at the AMC level, instead employing frameworks designed on a strategy-specific basis. Given that the SIF platform is still new, the AMC is in the process of establishing and refining its operating and investment frameworks within this structure
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