SBI Mutual Fund's Magnum Hybrid Long Short Fund has raised approximately Rs 1,100 crore through its maiden New Fund Offer, according to sources familiar with the matter, marking one of the strongest debut subscription numbers recorded in India's young Specialised Investment Fund category. The NFO, which ran from 1 October to 15 October 2025, reportedly attracted more than 10,000 applications during its two-week window.
A standout debut for the category The Rs 1,100 crore figure marks a considerably larger mobilisation than several other hybrid SIFs launched around the same period, including Edelweiss's Altiva Hybrid Long-Short Fund, which had raised roughly Rs 320 crore in its own NFO just weeks earlier. Industry observers have attributed the gap largely to SBI Mutual Fund's scale and distribution reach — the AMC's existing base of over ₹11.9 lakh crore in assets under management, and its branch and distributor network extending well beyond the metro-centric channels that have driven most SIF subscriptions to date.
Fund snapshot at close
Element | Detail |
|---|---|
NFO window | 1 – 15 October 2025 |
Amount raised (reported) | ~Rs 1,100 crore |
Applications received (reported) | 10,000+ |
Official launch/allotment | 22 October 2025 |
Initial NAV | ₹10 |
Fund manager | Gaurav Mehta, CFA |
The strong response has been read by distributors as an early signal that SIFs — despite their relatively high ₹10 lakh minimum ticket and limited public track record — are finding real traction among India's HNI investor base when offered by a fund house with sufficient brand trust and distribution depth. SBI Mutual Fund has described the fund as designed for conservative investors seeking optimal risk-adjusted returns with lower volatility, a positioning that appears to have resonated given the scale of the response relative to peer hybrid SIFs launched over the same period.
D P Singh has previously indicated that Magnum SIF's roadmap includes further differentiated strategies beyond the debut hybrid fund, and market participants expect SBI Mutual Fund to move relatively quickly to build out its SIF product suite, leveraging both the strong initial response to this NFO and the AMC's existing equity, debt and alternative investment capabilities.