SBI Mutual Fund: SBI Mutual Fund, the largest asset manager in the country, has rolled out a second investment strategy under its Specialized Investment Fund (SIF) framework. The new offering is the ‘Magnum Equity X-Top 100 Long Short Fund.’ This fund will mainly focus on investing in companies that are not part of the top 100 Indian firms by market capitalization, utilizing limited short positions through derivatives to help manage volatility and risk.
Key NFO dates and benchmarks
If you’re thinking about investing in this new SBI Mutual Fund strategy, keep these important dates in mind:
NFO Opening Date: August 7, 2026
NFO Closing Date: August 20, 2026
Fund Type: Open-ended strategy
Benchmark: BSE 500 TRI (Total Return Index)
How will this fund allocate its investments?
As per the fund house, the allocation of total assets will be as follows:
Equity Allocation: 65% to 100% of total assets will be directed towards shares of companies outside the top-100 and equity-linked instruments.
Exposure to top-100 companies: If necessary, up to 35% of the capital may be invested in top-100 companies.
Debt and other options: Up to 35% can be allocated to debt and money market instruments, up to 20% in InvITs, and up to 35% in other mutual fund units, including gold-silver ETFs.
Investments in international markets: Up to 35% of net assets can be invested in overseas equities, foreign ETFs, and debt securities in accordance with regulatory guidelines.
What is the minimum investment requirement?
The investment thresholds under SEBI’s Specialised Investment Fund (SIF) regulations are as follows:
For new investors: The minimum investment is Rs 10 lakh.
For existing Magnum SIF investors: If their total Magnum SIF holdings at the PAN level are at least Rs 10 lakh, they can invest an additional Rs 1 lakh per application.
Fund Managers, Exit Loads, and Taxation Rules
This strategy will be overseen by Gaurav Mehta, who also manages SBI’s first SIF offering, the Magnum Hybrid Long Short Fund. An exit load of 1% will apply if units are redeemed or switched. Under current tax rules, long-term capital gains (LTCG) on units held for more than 12 months are taxed at 12.5% (plus surcharge and cess). Capital gains up to Rs 1.25 lakh in a financial year are completely tax-free. According to experts, This new fund has been introduced with the aim of providing research-based investing and diversification to investors in India’s growing market.” SBI Mutual Fund’s average AUM during the April-June 2026 quarter was over Rs 12.57 lakh crore.