Key Takeaways
- • Mirae Asset filed a draft Investment Strategy Information Document (ISID) with SEBI for its Platinum Hybrid Long-Short Fund, structured as an interval investment strategy under the specialized investment fund (SIF) framework, marking the fund house's entry into India's growing SIF market.
- • The fund targets a 65–75% allocation to equity and equity-related instruments, 25–35% to debt and money market instruments, and up to 25% unhedged derivative exposure, with additional capacity for up to 20% in InvITs and securitized debt, designed to balance income generation with capital appreciation.
- • The proposed structure allows daily subscriptions with twice-weekly redemptions, plus stock exchange listing for enhanced liquidity, differentiating it from traditional mutual funds while maintaining a mutual fund regulatory foundation.
- • Investment strategy combines arbitrage trades, covered call strategies, derivative spreads, and event-based opportunities (IPOs, buybacks, M&A) to generate regular income while managing downside risk through systematic hedging approaches.
- • Platinum SIF positions Mirae Asset to compete directly with established SIF hybrid long-short offerings from competitors including SBI Magnum, Quant, Altiva, and Edelweiss, in a market segment targeting high-net-worth individuals seeking alternatives between traditional mutual funds and specialized investment vehicles.
Summary
Mirae Asset Investment Managers (India) has filed a draft regulatory document with SEBI for its Platinum Hybrid Long-Short Fund, a specialized investment fund structured as an interval strategy. This filing represents the fund house's strategic expansion into India's SIF market, which has grown to 19 registered funds as of 2025–26. The Platinum offering bridges traditional mutual fund accessibility with the flexibility and specialized strategies characteristic of high-end investment vehicles, positioning it as a differentiated alternative for sophisticated investors.
The fund's investment objective centers on generating regular income through arbitrage strategies, derivative positions, and fixed-income allocations, while pursuing capital appreciation via selective unhedged equity exposure. The proposed asset allocation framework targets equity and equity-related instruments at 65–75% of the portfolio, debt and money market instruments at 25–35%, and unhedged derivatives up to 25% of net assets. The strategy may additionally allocate up to 20% to InvITs and securitized debt within regulatory constraints, with overall exposure capped at 100% of net assets. This multi-faceted approach aims to deliver equity-like returns with reduced drawdown volatility compared to pure equity strategies.
The operational structure incorporates interval mechanics that enable daily unit subscriptions while limiting redemptions to twice weekly, providing investors with flexibility while maintaining portfolio stability. Units are proposed for listing on stock exchanges, creating additional liquidity pathways beyond traditional mutual fund redemption channels. The investment approach employs tactical strategies including arbitrage trades, covered call positions, and derivative spreads designed to manage downside risk systematically. The fund will also participate in event-driven opportunities such as IPOs, buybacks, and merger situations where identified.
Hybrid long-short SIFs have emerged as a key entry point for institutional and high-net-worth investors seeking alternatives that combine income stability with growth potential. Mirae Asset's Platinum SIF enters a competitive landscape that includes established offerings from SBI (Magnum SIF), Quant (Equity Long-Short and Hybrid Long-Short funds), Altiva (Hybrid Long-Short), and Edelweiss. The fund house has signaled broader ambitions to develop additional strategies across equity, hybrid, and fixed-income categories under the Platinum SIF platform, emphasizing innovation, structural clarity, and transparency aligned to investor requirements within the mutual fund regulatory framework.
The fund's investment objective centers on generating regular income through arbitrage strategies, derivative positions, and fixed-income allocations, while pursuing capital appreciation via selective unhedged equity exposure. The proposed asset allocation framework targets equity and equity-related instruments at 65–75% of the portfolio, debt and money market instruments at 25–35%, and unhedged derivatives up to 25% of net assets. The strategy may additionally allocate up to 20% to InvITs and securitized debt within regulatory constraints, with overall exposure capped at 100% of net assets. This multi-faceted approach aims to deliver equity-like returns with reduced drawdown volatility compared to pure equity strategies.
The operational structure incorporates interval mechanics that enable daily unit subscriptions while limiting redemptions to twice weekly, providing investors with flexibility while maintaining portfolio stability. Units are proposed for listing on stock exchanges, creating additional liquidity pathways beyond traditional mutual fund redemption channels. The investment approach employs tactical strategies including arbitrage trades, covered call positions, and derivative spreads designed to manage downside risk systematically. The fund will also participate in event-driven opportunities such as IPOs, buybacks, and merger situations where identified.
Hybrid long-short SIFs have emerged as a key entry point for institutional and high-net-worth investors seeking alternatives that combine income stability with growth potential. Mirae Asset's Platinum SIF enters a competitive landscape that includes established offerings from SBI (Magnum SIF), Quant (Equity Long-Short and Hybrid Long-Short funds), Altiva (Hybrid Long-Short), and Edelweiss. The fund house has signaled broader ambitions to develop additional strategies across equity, hybrid, and fixed-income categories under the Platinum SIF platform, emphasizing innovation, structural clarity, and transparency aligned to investor requirements within the mutual fund regulatory framework.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.