SBI Mutual Fund raises 1,154cr in India's largest SIF NFO
SBI Mutual Fund just pulled off a big win, raising ₹1,154 crore through its Magnum Equity Ex-Top 100 Long Short Fund NFO, making it the largest-ever collection for an equity-oriented Specialized Investment Fund (SIF) in India.
The offer ran from August 7 to 20, 2026, and focuses on mid- and small-cap stocks with a long-short strategy.
Ex-Top 100 fund hedges with derivatives
This fund skips India's top 100 companies and invests in others, using derivatives to hedge bets and help manage ups and downs in the market.
It's more flexible than regular mutual funds or pricey alternatives like PMS or AIFs, but returns aren't guaranteed.
Debasish Mishra, MD & CEO of SBI Mutual Fund, said the response reflects growing investor interest in differentiated risk strategies and signaled more launches under the Magnum SIF brand.