Mirae Asset Investment Managers (India) has filed a draft Investment Strategy Information Document (ISID) with SEBI for the Platinum Hybrid Long-Short Fund, the first product to be launched under a new brand the AMC is calling "Platinum SIF." The filing marks Mirae Asset's formal entry into India's Specialised Investment Fund category, joining a growing list of large fund houses building out dedicated SIF platforms since the framework took effect in April 2025.
What the filing reveals According to the draft document, the Platinum Hybrid Long-Short Fund is structured as an interval investment strategy, seeking to generate regular income through arbitrage strategies, derivative positions, and investments in debt and money market instruments, while also aiming for capital appreciation through selective, unhedged equity exposure.
Key parameters disclosed in the filing
Element | Detail |
|---|---|
Structure | Interval fund (subscriptions daily; redemptions twice weekly) |
Minimum investment | ₹10 lakh (₹5 lakh for accredited investors) |
Additional purchases | Minimum ₹10,000 |
Exit load | 1% for redemptions within 90 days |
Total expense ratio (estimated) | Up to 2.25% of daily net assets |
Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index |
Listing | Units proposed for listing on stock exchanges for added liquidity |
First NAV disclosure | Within 5 business days of allotment |
Redemption processing | Within 3 working days |
As is standard for SIF filings, the draft document carries a disclaimer that the units have not been approved or endorsed by SEBI at this stage, with the filing intended purely to give prospective investors key information ahead of a formal launch. The fund has been categorised as a higher-risk strategy given its use of derivatives and exposure to market-linked instruments — a standard classification across the SIF category.
Why this matters Mirae Asset's entry brings another top-tier, well-distributed AMC into the SIF space at a point when the category itself had been expanding rapidly — with total industry assets under management already running into the thousands of crores across a growing roster of hybrid and equity long-short products from AMCs including Edelweiss, SBI, Aditya Birla Sun Life, Bandhan and 360 ONE, among others. Distributors say Mirae Asset's strong existing brand recognition among both retail and HNI investors, built primarily through its equity mutual fund range, positions Platinum SIF to gather assets relatively quickly once its NFO formally opens, expected in the coming weeks pending final SEBI clearance.