Key Takeaways
- • Franklin Templeton's Sapphire Equity Long-Short SIF Direct Growth posted a NAV of ₹1,020.55 as of August 28, 2026, with a minimum initial investment of ₹10 lakh and subsequent investments at ₹10,000.
- • The fund operates as a SEBI-regulated Specialised Investment Fund (SIF) employing a long-short equity strategy benchmarked to Nifty 500 TRI, holding 114 positions across large, mid, and small-cap securities.
- • Assets under management stand at ₹153.04 crores with a 2.15% CAGR since inception and an expense ratio of 0.57-0.58%, featuring a 1% exit load for redemptions within one year.
- • SIF structure provides Franklin Templeton with portfolio flexibility unavailable in traditional mutual funds, enabling concentrated, strategy-driven positioning with limited short exposure capabilities through derivatives.
- • The fund's Direct Growth plan structure bypasses distributor commissions, offering lower costs relative to regular plan alternatives while maintaining redemption restrictions tied to specific strategy parameters.
Summary
Franklin Templeton's Sapphire Equity Long-Short SIF Direct Growth represents a SEBI-regulated alternative investment vehicle positioned for institutional and high-net-worth investors seeking quantitative long-short equity exposure. As of late August 2026, the fund maintained a NAV of ₹1,020.55, reflecting performance metrics in a competitive alternative equity landscape. The fund's structure requires a ₹10 lakh minimum initial commitment, with subsequent investments accepted at ₹10,000, establishing a meaningful commitment threshold typical of SIF-class products.
The fund's investment strategy targets alpha generation through a live quantitative approach spanning large, mid, and small-cap equities while maintaining limited short exposure via derivative instruments. Benchmarked to the Nifty 500 Total Return Index, the strategy operates within a 114-position portfolio framework designed to capture equity market inefficiencies. With ₹153.04 crores in AUM and a 2.15% CAGR since inception, the fund operates at modest scale relative to traditional equity mutual funds, reflecting the niche positioning of SIF strategies within India's asset management ecosystem.
The Direct Growth share class carries a competitive 0.57-0.58% expense ratio, positioned favorably against regular plan alternatives through elimination of distributor intermediation. Redemption mechanics impose a 1% exit load on withdrawals within 12 months, with redemption windows potentially restricted based on the underlying long-short strategy's operational requirements. Stamp duty on investments is assessed at 0.005% under current regulatory guidelines effective since July 2020.
Specialised Investment Funds represent a regulatory category offering managers substantially greater strategic flexibility than traditional mutual funds, permitting concentrated positions, derivative usage for short exposure, and hybrid strategy implementation across equity, debt, and blended mandates. This structural advantage positions the Sapphire Equity Long-Short SIF as an allocation vehicle for sophisticated investors seeking quantitative market-neutral or long-short positioning within a regulated Indian mutual fund wrapper.
The fund's investment strategy targets alpha generation through a live quantitative approach spanning large, mid, and small-cap equities while maintaining limited short exposure via derivative instruments. Benchmarked to the Nifty 500 Total Return Index, the strategy operates within a 114-position portfolio framework designed to capture equity market inefficiencies. With ₹153.04 crores in AUM and a 2.15% CAGR since inception, the fund operates at modest scale relative to traditional equity mutual funds, reflecting the niche positioning of SIF strategies within India's asset management ecosystem.
The Direct Growth share class carries a competitive 0.57-0.58% expense ratio, positioned favorably against regular plan alternatives through elimination of distributor intermediation. Redemption mechanics impose a 1% exit load on withdrawals within 12 months, with redemption windows potentially restricted based on the underlying long-short strategy's operational requirements. Stamp duty on investments is assessed at 0.005% under current regulatory guidelines effective since July 2020.
Specialised Investment Funds represent a regulatory category offering managers substantially greater strategic flexibility than traditional mutual funds, permitting concentrated positions, derivative usage for short exposure, and hybrid strategy implementation across equity, debt, and blended mandates. This structural advantage positions the Sapphire Equity Long-Short SIF as an allocation vehicle for sophisticated investors seeking quantitative market-neutral or long-short positioning within a regulated Indian mutual fund wrapper.
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