**SBI MF Launches First Specialised Investment Fund: Should You Invest?**
*By Dwaipayan Roy | Sep 24, 2025, 07:59 PM*
SBI Mutual Fund has introduced its first investment strategy under the Specialised Investment Fund (SIF) framework. The new offering, called the **Magnum Hybrid Long Short Fund (MHLSF)**, follows a multi-asset approach by investing across equities, debt, derivatives, and REITs/InvITs.
### What is the Magnum Hybrid Long Short Fund?
Designed specifically for conservative investors, the fund aims to deliver optimal risk-adjusted returns while maintaining lower volatility. By combining various asset classes and strategic hedging, MHLSF provides flexibility to better navigate market cycles.
### Investment Strategy and Potential Tax Benefits
One of the key advantages of investing under the SIF framework is the potential tax benefit. Long-term capital gains exceeding 12 months are taxed at 12.5% plus applicable surcharge and cess, with an exemption of Rs 1.25 lakh per financial year. This taxation structure may be attractive for investors seeking tax efficiency along with diversified market exposure.
### Fund Details and Subscription Information
The New Fund Offer (NFO) for MHLSF will open for subscription from **October 1 to October 15, 2025**. The minimum application amount is Rs 10 lakh, with subsequent purchases allowed from Rs 10,000.
The fund’s asset allocation is as follows:
– 65% to 75% in equity instruments
– Hedged exposure ranging from 0% to 75%
– Unhedged short derivatives up to 25%
– 25% to 35% in debt and money market instruments
– Up to 10% in REITs/InvITs
### Management and Benchmark
The fund will be managed by **Gaurav Mehta, CFA**, Head of SIF Equity. SBI Funds Management is a joint venture between the State Bank of India and Amundi. As of August 31, SBI Mutual Fund manages assets worth approximately Rs 11.9 lakh crore.
The benchmark for MHLSF is the **NIFTY 50 Hybrid Composite Debt 50:50 Index TRI**.
### Should You Invest?
The Magnum Hybrid Long Short Fund could be a compelling option for conservative investors seeking diversified exposure, strategic hedging, and tax benefits under the SIF framework. However, given the high minimum investment threshold and complex asset mix, prospective investors should assess their financial goals and risk tolerance carefully before investing.
*Stay tuned for more updates and detailed analysis as the NFO period approaches.*
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