Invests across equity and debt within SEBI-defined bands, using derivatives both to hedge and to take short positions. Unhedged short exposure is capped at 25% of net assets. The most common SIF flavour, usually positioned as a balanced-advantage alternative.
Official daily NAVs from our archive of AMFI's SIF NAV feed, plotted for the plan selected. Use the buttons to change the period; the dates covered are shown under the chart. The monthly table gives each calendar month's change.
Month-on-month change computed from month-end official NAVs in our archive. The first and current months are partial: they run from the earliest, or to the latest, NAV we hold.
| Building from the NAV archive… |
Every line disclosed in the AMC's portfolio disclosure as of 31 Jul 2026, ranked by exposure. The ten largest are shaded. Portfolios are disclosed periodically, so these are the most recent published positions — not live weights.
| # | Security | Sector / bucket | Side | Exposure |
|---|---|---|---|---|
| 01 | TRIUMPH COMPOSITES PVT LTD^ INE2I4607011 | IND AA- | LONG | 6.41% |
| 02 | HSBC Money Market Fund - Direct Growth INF917K01FE6 | Internal - Mutual Fund Units | LONG | 6.31% |
| 03 | GMR Airports Limited^ INE776C08083 | CRISIL A+ | LONG | 6.16% |
| 04 | Indigo 053** INP1INDI3007 | CARE AA(SO) | LONG | 5.55% |
| 05 | Treps | — | LONG | 5.40% |
| 06 | Krazybee Services Limited** INE07HK07874 | CARE A | LONG | 5.13% |
| 07 | ARIEL TRUST 2026** INE2XEV15016 | IND AA+(SO) | LONG | 5.02% |
| 08 | LIC Housing Finance Limited^ INE115A07RJ0 | CRISIL AAA | LONG | 4.52% |
| 09 | Oxyzo Financial Services Pvt Limited** INE04VS07529 | ICRA A+ | LONG | 4.49% |
| 10 | Net Current Assets (including cash & bank balances) | — | LONG | -4.49% |
| 11 | Cube Highway Trust INE0NR623014 | InVITs | LONG | 4.43% |
| 12 | Indus Towers Limited | — | SHORT | 3.63% |
| 13 | Indus Towers Limited INE121J01017 | Telecom - Services | LONG | 3.61% |
| 14 | Canara Bank | — | SHORT | 3.53% |
| 15 | Canara Bank INE476A01022 | Banks | LONG | 3.52% |
| 16 | NABARD** INE261F08EG3 | CRISIL AAA | LONG | 3.28% |
| 17 | Bagmane Prime Office REIT INE2OVN25015 | ReITs | LONG | 3.28% |
| 18 | National Highways Infra Trust INE0H7R23014 | InVITs | LONG | 3.28% |
| 19 | Raajmarg Infra Investment Trust INE2PB023011 | InVITs | LONG | 3.28% |
| 20 | MUTHOOT HOUSING FINANCE** INE882Z08056 | CRISIL AA- | LONG | 3.19% |
| 21 | Embassy Office Parks REIT INE041025011 | ReITs | LONG | 3.19% |
| 22 | Godrej Properties Limited | — | SHORT | 2.71% |
| 23 | Godrej Properties Limited INE484J01027 | Realty | LONG | 2.70% |
| 24 | TVS Motor Company Limited | — | SHORT | 2.20% |
| 25 | TVS Motor Company Limited INE494B01023 | Automobiles | LONG | 2.19% |
| 26 | Mindspace Business Parks REIT INE0CCU25019 | ReITs | LONG | 1.67% |
| 27 | Adani Power Limited | — | SHORT | 1.53% |
| 28 | Adani Power Limited INE814H01029 | Power | LONG | 1.53% |
| 29 | 7.06% GOI - 10-Apr-2028 IN0020230010 | SOVEREIGN | LONG | 1.33% |
| 30 | Indian Energy Exchange Limited | — | SHORT | 1.29% |
| 31 | Indian Energy Exchange Limited INE022Q01020 | Capital Markets | LONG | 1.28% |
| 32 | Hindustan Zinc Limited INE267A01025 | Non - Ferrous Metals | LONG | 1.01% |
| 33 | Hindustan Zinc Limited | — | SHORT | 1.01% |
| 34 | Hindustan Petroleum Corporation Limited | — | SHORT | 0.94% |
| 35 | Hindustan Petroleum Corporation Limited INE094A01015 | Petroleum Products | LONG | 0.94% |
| 36 | Mahindra & Mahindra Limited INE101A01026 | Automobiles | LONG | 0.80% |
| 37 | KALYAN JEWELLERS INDIA LIMITED | — | SHORT | 0.73% |
| 38 | KALYAN JEWELLERS INDIA LIMITED INE303R01014 | Consumer Durables | LONG | 0.73% |
| 39 | PB Fintech Limited INE417T01026 | Financial Technology (Fintech) | LONG | 0.72% |
| 40 | PB Fintech Limited | — | SHORT | 0.72% |
| 41 | Container Corporation of India Limited INE111A01025 | Transport Services | LONG | 0.70% |
| 42 | Container Corporation of India Limited | — | SHORT | 0.70% |
| 43 | Varun Beverages Limited | — | SHORT | 0.65% |
| 44 | Varun Beverages Limited INE200M01039 | Beverages | LONG | 0.64% |
| 45 | One 97 Communications Limited | — | SHORT | 0.62% |
| 46 | One 97 Communications Limited INE982J01020 | Financial Technology (Fintech) | LONG | 0.62% |
| 47 | Crompton Greaves Consumer Electrical Ltd INE299U01018 | Consumer Durables | LONG | 0.62% |
| 48 | Crompton Greaves Consumer Electrical Ltd | — | SHORT | 0.62% |
| 49 | Dabur India Limited | — | SHORT | 0.59% |
| 50 | Dabur India Limited INE016A01026 | Personal Products | LONG | 0.59% |
| 51 | Manappuram Finance Limited INE522D01027 | Finance | LONG | 0.56% |
| 52 | Manappuram Finance Limited | — | SHORT | 0.56% |
| 53 | Bajaj Finserv Limited INE918I01026 | Finance | LONG | 0.55% |
| 54 | Bajaj Finserv Limited | — | SHORT | 0.55% |
| 55 | Jio Financial Services Limited | — | SHORT | 0.54% |
| 56 | Jio Financial Services Limited INE758E01017 | Finance | LONG | 0.54% |
| 57 | Bank of India | — | SHORT | 0.51% |
| 58 | Bank of India INE084A01016 | Banks | LONG | 0.50% |
| 59 | Tata Steel Limited | — | SHORT | 0.48% |
| 60 | Tata Steel Limited INE081A01020 | Ferrous Metals | LONG | 0.47% |
| 61 | Mahindra & Mahindra Limited | — | SHORT | 0.45% |
| 62 | Bandhan Bank Limited INE545U01014 | Banks | LONG | 0.45% |
| 63 | Bandhan Bank Limited | — | SHORT | 0.45% |
| 64 | Bajaj Finance Limited INE296A01032 | Finance | LONG | 0.44% |
| 65 | Bajaj Finance Limited | — | SHORT | 0.44% |
| 66 | State Bank of India INE062A01020 | Banks | LONG | 0.43% |
| 67 | Mahindra & Mahindra Limited | — | SHORT | 0.35% |
| 68 | Punjab National Bank INE160A01022 | Banks | LONG | 0.35% |
| 69 | Punjab National Bank | — | SHORT | 0.35% |
| 70 | Eicher Motors Limited | — | SHORT | 0.25% |
| 71 | Eicher Motors Limited INE066A01021 | Automobiles | LONG | 0.25% |
| 72 | HDFC Asset Management Company Limited | — | SHORT | 0.22% |
| 73 | HDFC Asset Management Company Limited INE127D01025 | Capital Markets | LONG | 0.22% |
| 74 | State Bank of India | — | SHORT | 0.22% |
| 75 | State Bank of India | — | SHORT | 0.22% |
| 76 | Ambuja Cements Limited | — | SHORT | 0.21% |
| 77 | Ambuja Cements Limited INE079A01024 | Cement & Cement Products | LONG | 0.21% |
| 78 | Aurobindo Pharma Limited INE406A01037 | Pharmaceuticals & Biotechnology | LONG | 0.19% |
| 79 | Aurobindo Pharma Limited | — | SHORT | 0.19% |
| 80 | JSW Steel Limited | — | SHORT | 0.15% |
| 81 | JSW Steel Limited INE019A01038 | Ferrous Metals | LONG | 0.15% |
| 82 | Adani Port & Special Economic Zone Ltd | — | SHORT | 0.14% |
| 83 | Adani Port & Special Economic Zone Ltd INE742F01042 | Transport Infrastructure | LONG | 0.14% |
| 84 | Bharat Electronics Limited | — | SHORT | 0.11% |
| 85 | Bharat Electronics Limited INE263A01024 | Aerospace & Defense | LONG | 0.11% |
| 86 | Ashok Leyland Limited INE208A01029 | Agricultural, Commercial & Construction Vehicles | LONG | 0.11% |
| 87 | Ashok Leyland Limited | — | SHORT | 0.11% |
| 88 | The Indian Hotels Company Limited | — | SHORT | 0.10% |
| 89 | The Indian Hotels Company Limited INE053A01029 | Leisure Services | LONG | 0.10% |
| 90 | Maruti Suzuki India Limited INE585B01010 | Automobiles | LONG | 0.10% |
| 91 | Maruti Suzuki India Limited | — | SHORT | 0.10% |
| 92 | NTPC Limited INE733E01010 | Power | LONG | 0.07% |
| 93 | Vishal Mega Mart Limited INE01EA01019 | Retailing | LONG | 0.07% |
| 94 | Vishal Mega Mart Limited | — | SHORT | 0.07% |
| 95 | NTPC Limited | — | SHORT | 0.07% |
| 96 | Godrej Consumer Products Limited INE102D01028 | Personal Products | LONG | 0.05% |
| 97 | Vodafone Idea Limited INE669E01016 | Telecom - Services | LONG | 0.05% |
| 98 | Godrej Consumer Products Limited | — | SHORT | 0.05% |
| 99 | Vodafone Idea Limited | — | SHORT | 0.05% |
| 100 | UNO Minda Limited | — | SHORT | 0.04% |
| 101 | UNO Minda Limited INE405E01023 | Auto Components | LONG | 0.04% |
| 102 | Bharat Heavy Electricals Limited INE257A01026 | Electrical Equipment | LONG | 0.03% |
| 103 | Marico Limited INE196A01026 | Agricultural Food & other Products | LONG | 0.03% |
| 104 | FSN E-Commerce Ventures Limited INE388Y01029 | Retailing | LONG | 0.03% |
| 105 | Bharat Heavy Electricals Limited | — | SHORT | 0.03% |
| 106 | Marico Limited | — | SHORT | 0.03% |
| 107 | FSN E-Commerce Ventures Limited | — | SHORT | 0.03% |
| 108 | The Federal Bank Limited | — | SHORT | 0.02% |
| 109 | Coal India Limited | — | SHORT | 0.02% |
| 110 | The Federal Bank Limited INE171A01029 | Banks | LONG | 0.02% |
| 111 | Coal India Limited INE522F01014 | Consumable Fuels | LONG | 0.02% |
| 112 | Vedanta Limited INE205A01025 | Diversified Metals | LONG | 0.02% |
| 113 | Vedanta Limited | — | SHORT | 0.02% |
| 114 | Apollo Hospitals Enterprise Limited | — | SHORT | 0.01% |
| 115 | Adani Energy Solutions Limited | — | SHORT | 0.01% |
| 116 | Apollo Hospitals Enterprise Limited INE437A01024 | Healthcare Services | LONG | 0.01% |
| 117 | Adani Energy Solutions Limited INE931S01010 | Power | LONG | 0.01% |
| 118 | Axis Bank Limited INE238A01034 | Banks | LONG | 0.01% |
| 119 | SBI Life Insurance Company Limited INE123W01016 | Insurance | LONG | 0.01% |
| 120 | National Aluminium Company Limited INE139A01034 | Non - Ferrous Metals | LONG | 0.01% |
| 121 | TUBE INVESTMENTS OF INDIA LTD INE974X01010 | Auto Components | LONG | 0.01% |
| 122 | ITC Limited INE154A01025 | Diversified FMCG | LONG | 0.01% |
| 123 | Axis Bank Limited | — | SHORT | 0.01% |
| 124 | SBI Life Insurance Company Limited | — | SHORT | 0.01% |
| 125 | National Aluminium Company Limited | — | SHORT | 0.01% |
| 126 | TUBE INVESTMENTS OF INDIA LTD | — | SHORT | 0.01% |
| 127 | ITC Limited | — | SHORT | 0.01% |
Showing the 10 largest positions. The full disclosed book, including the short side, is one click away.
Aggregated from the disclosed cash-equity lines.
Source file states percentage-to-net-assets as a fraction of 1 (e.g. 0.0361 = 3.61%); values here are multiplied by 100. The main portfolio statement (sheet RHSIFHY) has NO Long/Short column - every cash-market line is a long holding. Derivative lines are taken from the 'Notes' sheet: the 'Hedging Positions through Futures as on JULY 31, 2026' table carries an explicit Long/Short column and marks EVERY futures position 'Short'; the companion 'Disclosure in Derivatives' table shows negative quantities for the same names, so side=SHORT is both explicitly stated and confirmed by the sign of quantity. Derivative pct is the absolute value of the disclosed '% To net assets'. AMC-stated exposures: 'Total outstanding position (as at JULY 31, 2026) in Derivative Instruments (Gross Notional) 22,394.98 lakhs'; 'Total percentage of existing assets hedged through futures is 28.55%'. Total Net Assets 78,157.5950429 lakhs (Rs 781.58 Cr). Sleeve roll-ups: debt 45.08 = corporate bonds 33.18 + securitised 10.57 + G-sec 1.33; other 26.35 = MF units 6.31 + REITs 8.14 + InvITs 10.99 + Treps 5.40 + net current assets -4.49. equity+debt+other = 100.00. No aggregate 'derivatives' sub-total is printed in the document, hence null. Sub-totals may not re-add to 100 exactly due to source rounding. Portfolio turnover 0.74 times.
Normalised from the AMC's published portfolio statement. Derivative market value, notional exposure and regulatory gross exposure can be measured on different bases, so the AMC's own statement remains controlling. Holdings are historical and change without notice — this is not a recommendation to buy or sell any security.
RedHex Hybrid Long-Short Fund is HSBC Mutual Fund's first SIF strategy — an interval strategy investing in equity and debt securities including limited short exposure through derivatives, whose NFO ran 2–16 June 2026 with units allotted on 19 June 2026 per NSE's launch circular.
An interval structure, not a daily-liquidity fund. HSBC describes the strategy as "An interval investment strategy investing in equity and debt securities, including limited short exposure in equity and debt through derivatives". Subscription is accepted daily on all business days, but redemption is processed only once a week — every Monday — and is subject to a 10-working-day notice period, so investors placing a redemption/switch-out/STP-out request receive the NAV at the end of that notice period. Requests received up to 3.00 pm on Monday are processed at the NAV applicable at the end of the notice period; requests after that cut-off roll to the next Monday. (Source: HSBC Product Note, August 2026, and HSBC RedHex SIF FAQs.)
The investment objective, verbatim from HSBC. "The investment objective of the Investment Strategy is to generate regular returns and capital appreciation by investing in fixed income securities and equity and equity related securities including limited short exposure in equity and debt through derivatives. There is no assurance that the investment objective of the Investment Strategy will be achieved." (Source: HSBC Product Note, August 2026.)
The portfolio is built around arbitrage and credit, not directional equity. HSBC's own FAQ states the strategy "primarily uses fully hedged equity arbitrage positions and does not take significant directional equity calls, except limited REIT exposure". The Product Note's indicative portfolio construct is Equity Arbitrage 25-35%, REITs 0-10%, high-yielding NCDs 25-35%, liquid fixed income 10-15%, InvITs 0-15% and retail loan securitisation (PTCs) 5-15%, summarised as Debt/InvIT units up to 65% and Equity Arbitrage/REIT units minimum 35%. (Source: HSBC Product Note, August 2026; HSBC Product Deck.)
Actual portfolio as at 31 July 2026. HSBC reported strategy AUM of INR 781 crore at end-July 2026, with 28.5% in non-directional equity arbitrage, 8.1% in REIT units (Bagmane Prime Office, Embassy Office Parks, Mindspace Business Parks), 11.0% in InvIT units (Cube Highways Trust, Raajmarg Infra Investment Trust, National Highways Infra Trust) and about 36% in higher-yielding debt including 10.57% in pass-through certificates. Debt portfolio yield was 9.93% with modified duration of 1.5 years. (Source: HSBC Product Note, August 2026.)
Asset-allocation bands: what HSBC itself has published, and what is not confirmed. HSBC's public Product Note and FAQ give only the indicative portfolio construct above and refer readers to the ISID for the formal bands; Trustner was not able to retrieve the RedHex ISID from HSBC's website, so the formal SID/ISID minimum-maximum table is Not disclosed by the AMC in the documents we could access. Angel One, reporting on HSBC's draft ISID filing, states equity and equity-related instruments 25%-75% of net assets, debt and money market instruments 25%-75%, derivatives for non-hedging purposes capped at 25% of net assets, overseas securities up to 30% and securitised debt up to 20% — this is a secondary source describing the draft, not HSBC's final ISID.
Sources: HSBC MF — RedHex Hybrid Long-Short Fund (fund page) · HSBC MF — RedHex Hybrid Long-Short Fund Product Note (August 2026) · HSBC MF — RedHex Hybrid Long-Short Fund Product Deck · HSBC MF — FAQs, RedHex SIF · NSE — Circular NSE/NMFTM/74482, launch of RedHex Hybrid Long-short Fund (allotment date, ISINs). Scheme facts are as disclosed by the AMC at the time of writing; fund managers, load structures and allocation bands can change — always read the current SID/KIM before investing.
Everything on this page traces back to a document HSBC published. Here they are, so you can read the primary source yourself rather than take our word for it.
All Hybrid Long-Short funds we track, with their latest NAV, trailing returns, size and risk level. This fund is highlighted. Click a column heading to sort the table; the # column then shows each fund's position on that column. It is arithmetic on the period you chose, not a rating or a recommendation. Most SIFs are young, so check each fund's age before comparing. Open any fund's page from its name, or use the compare tool for a side-by-side view.
| # | NAV | |||||||
|---|---|---|---|---|---|---|---|---|
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“—” means the fund is too young for that period or the figure isn't disclosed yet. Default order: 3-month return. NAV and returns follow the plan selected above (Growth option); AUM and risk level from Value Research.
Invests across equity and debt within SEBI-defined bands, using derivatives both to hedge and to take short positions. Unhedged short exposure is capped at 25% of net assets. The most common SIF flavour, usually positioned as a balanced-advantage alternative.
Every Specialized Investment Fund sits between mutual funds and PMS: a ₹10 lakh minimum (aggregated per PAN per AMC), SEBI's Chapter VI-C framework, and mutual-fund-grade taxation — equity-oriented strategies attract 12.5% LTCG after 12 months. Learn the mechanics on our What is a SIF page, or read the August 2026 Coverage Report.
SIFs carry a ₹10 lakh minimum and real derivative risk. Talk to a Trustner relationship manager — 20 minutes, no fee, no obligation. We are an AMFI-registered distributor (ARN-286886); we do not provide personalised investment advice.
The people named as designated fund managers in the scheme's official disclosures. Fund managers can change over the life of a scheme — verify against the current KIM before investing.