One of India's largest SIFs by AUM at ₹3,462 Cr (Value Research) — SBI Mutual Fund's distribution muscle at work. A conservative hybrid mandate: 65–75% equity with up to 25% unhedged short, carrying one of the lower risk-band profiles in the category (Risk Band 2). Benchmarked to the NIFTY 50 Hybrid Composite Debt 50:50 Index TRI.
Magnum's score is built on SBI's institutional platform, scale economics, and a steady positive return through the March 2026 crash. The mandate is conservative rather than differentiated — that's both the strength and the cap.
A conservative equity-tilt hybrid leveraging SBI MF's deep stock research bench. Less adventurous than peers — and that's the point.
The equity book runs 65–75% of assets. It holds large- and select mid-caps drawn from SBI MF's research universe, with a derivatives short overlay (up to 25% unhedged) layered on top to manage market exposure.
The 25–35% debt sleeve follows SBI MF's institutional fixed-income playbook — investment-grade, with actively-managed duration.
The short book uses futures, options and spreads. Per the SID, naked shorts (up to 25% of net assets) may target single stocks or market segments — it is not restricted to index futures. The purpose is to dampen equity risk rather than to make large directional bets, so the short book is designed to reduce, not eliminate, short-squeeze risk.
The conservative design shows through. Magnum's heavily-hedged book is built to protect capital through corrections; the trade-off is that it tends to recover more slowly than punchier peers once markets turn.
On the verified record, Magnum Hybrid Long-Short is a conservative hybrid mandate: 65–75% equity, 25–35% debt, and up to 25% unhedged short built with futures, options and spreads — which may include single stocks, not only index positions. It is benchmarked to the NIFTY 50 Hybrid Composite Debt 50:50 Index TRI and is structurally similar to the iSIF Hybrid design, so its distinguishing features are the platform and the manager rather than the strategy shape.
It is run by a sole manager, Gaurav Mehta, CFA — Head of SIF (Equity) at SBI Funds Management, with the AMC since 2018 (PGDM, IIM Lucknow; B.Tech, IIT Bombay) — sitting on the widest fund-distribution network in India. The scheme is taxed as equity-oriented, so gains held beyond twelve months fall under the 12.5% LTCG regime; that treatment is one factor investors often weigh when comparing a hybrid SIF against a traditional hybrid mutual fund.
The practical terms are worth reading closely. This is an interval structure that opens for subscription and redemption twice a week (Monday and Thursday), with a tiered exit load — 0.50% within 15 days, 0.25% from 15 days to one month, and nil thereafter — and a ₹10 lakh minimum. The AMC-declared Risk Band is 2 of 5, among the lower bands in the category, consistent with the heavily hedged, capital-preservation-tilted design.
The fund has been live only since October 2025, so its record spans well under a full market cycle; the live NAV and returns shown above are the only performance history to read, and past performance is not indicative of future returns. It carries a Trustner Fund Score of 75 — Trustner's proprietary educational opinion, not a recommendation to buy or sell. Whether a conservative, brand-anchored hybrid suits a particular portfolio is a question to weigh against one's own objectives and, where advice is needed, a SEBI-registered investment adviser.
The profiles below are educational illustrations of the kinds of investors a conservative, SBI-anchored hybrid SIF is generally structured for — not personalised advice, and not a suggestion of how much anyone should hold. As an AMFI-registered distributor, Trustner does not prescribe allocation sizes; what fits your portfolio is a decision for you and, where needed, a SEBI-registered investment adviser.
Magnum vs iSIF Hybrid vs Altiva — three flagship Hybrid LS SIFs with materially different design philosophies.
| Attribute | Magnum Hybrid | iSIF Hybrid | Altiva Hybrid |
|---|---|---|---|
| TFS Score | 75 Solid | 78 High | 76 Solid |
| AMC | SBI (largest) | ICICI Prudential | Edelweiss |
| Lead PM | Gaurav Mehta | Sankaran Naren | Bhavesh Jain |
| Launched | Oct 2025 | Jan 2026 | Oct 2025 |
| Equity allocation | 65–75% | 65–75% | 25–75% |
| AUM | ₹3,462 Cr | ₹844 Cr | ₹4,466 Cr |
| Best fit | Brand-comfort / mass affluent | Contrarian / unconstrained | Conservative HNI |
Bold = leader. See all 25 live SIFs →
Solid band, not top-tier. Four risks to monitor.
The people responsible for this SIF, as named in the scheme's official disclosures. Backgrounds are drawn from published fund and AMC sources; fund managers can change over the life of a scheme.
CFA charterholder (PGDM, IIM Lucknow; B.Tech, IIT Bombay). With SBI Funds Management since 2018, previously CIO – Alternatives (Equity); earlier at Ambit and Edelweiss Capital.
Sources: named fund manager per the scheme's disclosures; background via Value Research, Outlook Money and Groww.