Key Takeaways
- • Franklin Templeton's Sapphire Equity Long-Short SIF Direct Growth fund recorded a NAV of ₹1,016.54 as of August 20, 2026, with a since-inception CAGR of 2.13% and current AUM of ₹153.04 crores, indicating modest performance relative to benchmark indices over its operating period.
- • The fund operates as a SEBI-regulated Specialised Investment Fund (SIF) with 116 holdings and maintains long positions between 75% to 100% of net assets, offering fund managers greater flexibility than traditional mutual funds to execute concentrated, strategy-driven equity strategies.
- • Minimum investment requirements are ₹10 lakh for the first investment with subsequent investments at ₹10,000, subject to a 1% exit load if redeemed within one year and a stamp duty charge of 0.005%, establishing a higher entry barrier typical of SIF structures.
- • Year-to-date performance metrics show the fund lagging its category average and relevant benchmarks, with the fund delivering 1.24% one-month returns versus 3% for the Nifty 500 and 4.46% six-month returns versus 10.4% for the broader equity benchmark, alongside an expense ratio of 0.57%.
Summary
Franklin Templeton's Sapphire Equity Long-Short SIF Direct Growth represents a specialized investment vehicle designed for institutional and high-net-worth investors seeking long-short equity exposure within India's regulated mutual fund ecosystem. As of August 20, 2026, the fund maintained a NAV of ₹1,016.54, reflecting the equity long-short strategy's positioning across a diversified portfolio of 116 holdings spanning large, mid, and small-cap companies.
The fund is structured as a Specialised Investment Fund (SIF), a SEBI-regulated category that provides asset managers with operational flexibility unavailable under traditional mutual fund frameworks. Unlike conventional schemes, SIFs permit concentrated portfolio construction and enhanced strategic discretion, with the Sapphire vehicle maintaining long positions between 75% and 100% of net assets. This structure enables the fund manager to tactically adjust short exposure based on market conditions while maintaining a fundamentally equity-long bias.
Performance metrics reveal the fund's since-inception CAGR of 2.13% alongside recent underperformance against relevant benchmarks. As of August 14, 2026, the fund's AUM stood at ₹153.04 crores. Over one-month and six-month periods, returns of 1.24% and 4.46% respectively trailed the Nifty 500 index returns of 3% and 10.4%, and underperformed the equity long-short category average of 0.59% one-month and 3.04% six-month returns.
Access to the fund requires minimum initial investment of ₹10 lakh per investor, with subsequent investments permitted at ₹1,00,000 minimums across all SIF schemes of Franklin Templeton. Redemption structures include a 1% exit load for withdrawals within one year of investment, stamp duty of 0.005%, and restricted redemption terms dependent on specific strategy parameters. The fund maintains a competitive expense ratio of 0.57%, supporting the direct-growth share class structure without distribution fees.
The fund is structured as a Specialised Investment Fund (SIF), a SEBI-regulated category that provides asset managers with operational flexibility unavailable under traditional mutual fund frameworks. Unlike conventional schemes, SIFs permit concentrated portfolio construction and enhanced strategic discretion, with the Sapphire vehicle maintaining long positions between 75% and 100% of net assets. This structure enables the fund manager to tactically adjust short exposure based on market conditions while maintaining a fundamentally equity-long bias.
Performance metrics reveal the fund's since-inception CAGR of 2.13% alongside recent underperformance against relevant benchmarks. As of August 14, 2026, the fund's AUM stood at ₹153.04 crores. Over one-month and six-month periods, returns of 1.24% and 4.46% respectively trailed the Nifty 500 index returns of 3% and 10.4%, and underperformed the equity long-short category average of 0.59% one-month and 3.04% six-month returns.
Access to the fund requires minimum initial investment of ₹10 lakh per investor, with subsequent investments permitted at ₹1,00,000 minimums across all SIF schemes of Franklin Templeton. Redemption structures include a 1% exit load for withdrawals within one year of investment, stamp duty of 0.005%, and restricted redemption terms dependent on specific strategy parameters. The fund maintains a competitive expense ratio of 0.57%, supporting the direct-growth share class structure without distribution fees.
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