SBI MF enters the specialised investment fund segment under the Magnum brand with equity and hybrid offerings, joining other major AMCs in launching high-ticket SIF products.

SIFs are a new product segment within the mutual fund framework that offers fund managers more flexibility in terms of investment strategy. These funds, which have a minimum ticket size of ₹10 lakh, can be equity, debt or hybrid in structure.

The fund house said it chose the name Magnum considering the existing brand association. Many of SBI MF’s earlier schemes carried the Magnum name.

SBI MF has appointed Mr. Gaurav Mehta to lead its SIF venture. Mr. Mehta has served as Chief Investment Officer – Alternatives (Equity) at SBI Funds Management since October 2021.

SBI is the fifth fund house to announce a foray into the SIF segment. Edelweiss, ITI, Mirae Asset and Quant are the other fund houses that have secured licences.

D P Singh, Deputy Managing Director and Joint Chief Executive Officer, SBI MF, said, we have sufficient in-house talent with a large and highly experienced investment team, and we plan to leverage on the expertise of our existing team for managing the investment strategies under SIF. SIF strategies are more suitable for evolved investors who understand the markets and their technicalities, and for investors who are keen on investment strategies that are more advanced than mutual funds.