Mera SIFClient note · facts from the offer documents · checked 6 November 2026

RedHex Hybrid Long-Short

Hybrid Long-Short · HSBC · Full fund page, with SEBI-format performance

Invests across equity and debt within SEBI-defined bands, using derivatives both to hedge and to take short positions. Unhedged short exposure is capped at 25% of net assets. The most common SIF flavour, usually positioned as a balanced-advantage alternative.

Key terms

Minimum investment	₹10 lakh across all strategies of this SIF, at PAN level (accredited investors exempt; the fund house sets their minimum). Mutual fund holdings do not count.
Structure	Interval
Subscriptions	Daily (all business days)
Redemptions	Once a week — Monday (next business day if Monday is a non-business day), subject to a 10-working-day notice period
Notice period	10 working days — the investor receives the NAV at the end of the notice period
Cut-off and payout	3.00 pm Monday — requests by 3.00 pm on Monday are processed at the NAV at the end of the notice period; later requests go into the next Monday's cycle · Within 3 working days of the applicable redemption NAV date
Exit load	2.00% if redeemed or switched out on or before 1 year from allotment; nil after 1 year. SWP withdrawals also attract exit load; none on switches between plans/options.
Listed on an exchange	NSE
Expense ratio (Regular)	0.93% base · 1.65% totalTotal adds brokerage, transaction costs and levies · AMFI · Regular plan · 5 Nov 2026
Risk band (AMC-declared)	Level 2 of 5, as on 30 October 2026; reviewed monthly
Benchmark	NIFTY 50 Hybrid Composite Debt 50:50 Index (described by HSBC as the AMFI Tier I benchmark index)
Asset allocation	Formal ISID minimum/maximum table: Not disclosed by the AMC in documents retrievable from HSBC's website. HSBC's published indicative construct is Debt/InvIT units up to 65% and Equity Arbitrage/REIT units minimum 35%, with indicative ranges Equity Arbitrage 25-35%, REITs 0-10%, high-yielding NCDs 25-35%, liquid fixed income 10-15%, InvITs 0-15%, PTCs 5-15%. Angel One, reporting the draft ISID, gives equity 25%-75% and debt/money market 25%-75% of net assets
Unhedged short cap	Scheme-specific cap in the ISID: Not disclosed by the AMC in documents retrievable from HSBC's website. HSBC's Product Deck and Product Note describe the SEBI SIF framework restriction as "unhedged short exposure through derivatives 25%", and the Deck's comparison table shows SIFs allow derivative use "including unhedged shorts (up to 25%)". Angel One, reporting the draft ISID, states derivatives for non-hedging purposes are capped at 25% of net assets
Plans & options	Plans: Direct Plan and Regular Plan. Options: Growth; IDCW (Income Distribution cum Capital Withdrawal) with Payout and Reinvestment sub-options; IDCW frequency Annual or such other frequency as decided by the Trustee Company Board. Defaults: Growth is the default option, IDCW Reinvestment the default sub-option
Date of allotment	19 June 2026, per NSE circular NSE/NMFTM/74482 dated 1 June 2026, which lists the allotment date for all RedHex ISINs as 19.06.2026. HSBC's own published documents do not state the allotment date. Note: aggregator INDmoney reports an inception date of 25 June 2026, so the two sources differ
Fund managers	Shriram Ramanathan, Venugopal Manghat, Praveen Ayathan, Mayank Chaturvedi

Redemption terms from our liquidity record, checked 3 November 2026; sources: AMFI portal — Investment Strategy Information Document (S-25); AMFI portal — Investment Strategy Summary Document (SSD_S-25); undated, date is PDF metadata; HSBC MF — RedHex SIF investor resources, notices filter (checked 3 Nov 2026; only OPAT/ONDC and benchmark risk-band notices). Other rows as stated on the fund page, which cites the fund house’s documents. Fund houses change terms by notice-cum-addendum; the latest offer documents govern.

Read before investing

What your distributor should explain

SEBI asks a distributor to explain, in clear language, before an investment (SEBI FAQs for distributors, C10):

the relatively higher-risk nature of the product;
the ₹10 lakh PAN-level threshold and what happens on an active or a passive breach;
the strategy’s objective, asset allocation, derivatives exposure, risk band and scenario analysis;
the subscription and redemption frequency, notice period, liquidity-management tools, fees, expenses and exit load, if any.

Investments in Specialized Investment Fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility. Please read all investment strategy related documents carefully before making the investment decision.

This note gives facts from public documents; it is not a recommendation and does not say whether the strategy suits you. It shows no performance: see the fund page for figures in SEBI’s format. Trustner Asset Services Pvt. Ltd. (CIN U66301AS2023PTC025505) is an AMFI-registered Mutual Fund & SIF Distributor, ARN-286886, offers the Regular plan and receives commission from the fund house. merasif.com