Mirae Asset Launches Platinum Hybrid Long-Short Fund Under New SIF Category

Mirae Asset Mutual Fund has announced the launch of a new investment product under the recently introduced Specialised Investment Fund (SIF) category. The new scheme, called Platinum Hybrid Long-Short Fund, is positioned as a product for investors seeking relatively stable returns with lower downside risk than traditional hybrid funds with unhedged equity exposure, according to a recent press statement from Mirae Asset Mutual Fund.

The New Fund Offer (NFO) for the scheme will open on May 20, 2026, and close on June 3, 2026. The launch comes at a time when mutual fund companies are increasingly trying to create specialised products for investors seeking alternatives between conventional mutual funds and Alternative Investment Funds (AIFs).

The SIF category itself is relatively new. It has been introduced as a middle path between retail mutual fund products and more sophisticated investment structures generally meant for wealthy investors. Under the rules, investors are required to commit at least Rs 10 lakh at the PAN level across SIF strategies.

Fund Strategy Focuses On Lower Volatility

According to Mirae Asset, the Platinum Hybrid Long-Short Fund is designed to generate relatively stable returns while seeking to reduce downside risk during volatile market phases.

The strategy will combine debt investments, arbitrage opportunities, and selective equity exposure through derivative-based structures. The fund house said the portfolio will maintain a mix of fully hedged arbitrage positions, controlled equity exposure, and high-quality debt instruments.

The equity allocation may move between five per cent and 70 per cent depending on market conditions. Hedged arbitrage exposure may also vary within a similar range, while debt investments are expected to remain between 25 per cent and 35 per cent.

The company believes this structure may help reduce sharp drawdowns often seen in traditional hybrid funds that carry unhedged directional equity positions.

Gaurik Shah, senior vice-president – equity investments at Mirae Asset Investment Managers (India), will manage the scheme. The company said the strategy will use derivative-based approaches such as collar structures and special situations alongside arbitrage and debt investments.

SIFs Aim To Fill Gap Between Mutual Funds And AIFs

The launch also reflects a broader trend in the investment industry where asset management companies are trying to offer more flexible strategies without moving entirely into the alternative investment space.

Traditional mutual funds operate under stricter investment limits and product structures. On the other hand, AIFs generally cater to high-net-worth investors and often involve more complex strategies with higher entry barriers.

The SIF framework attempts to create an intermediate category where fund managers get somewhat greater flexibility while investors continue to remain within a regulated mutual fund ecosystem.

Neelesh Surana, Chief Investment Officer at Mirae Asset Investment Managers (India), said the SIF structure allows higher flexibility in allocation across debt, equity, and derivative instruments. According to him, the strategy is intended to deliver returns across varying market conditions rather than relying purely on rising equity markets.

Vaibhav Shah, head – products, business strategy, and international business at the company, said the objective is to bridge the product gap between retail investors and high-net-worth investors. He added that the strategy seeks to create relatively stable, fixed-income-like returns in a more tax-efficient structure.

Who May Consider This Product?

The scheme appears targeted at conservative investors looking for relatively stable returns over a one-to-two-year horizon or longer. It may also appeal to investors who want lower volatility than conventional hybrid equity funds.

At the same time, the fund house has cautioned that SIF products involve relatively higher risks, including market volatility, liquidity risks, and potential capital loss. Since derivatives form a part of the strategy, investors may need to understand the product structure carefully before investing.

The launch also underlines how mutual fund companies are gradually expanding beyond traditional equity and debt products as investor demand becomes more segmented and sophisticated.

FAQs

Q1. What is a Specialised Investment Fund (SIF)?

A SIF is a relatively new investment category positioned between traditional mutual funds and Alternative Investment Funds (AIFs). It allows fund managers greater flexibility in strategy while remaining within the regulated mutual fund framework.

Q2. Who may consider investing in Mirae Asset Platinum Hybrid Long-Short Fund?

The scheme may suit conservative investors seeking relatively stable returns with lower volatility over a one-to-two-year horizon or longer. It may appeal to those uncomfortable with fully unhedged equity exposure.

Q3. What are the key risks associated with this fund?

Since the strategy uses derivatives, arbitrage positions, and dynamic asset allocation, investors may face market volatility, liquidity risks, and possible capital loss. Understanding the structure before investing is important.