Magnum Equity Ex-Top 100 LS
Equity Ex-Top 100 Long-Short · SBI · Full fund page, with SEBI-format performance
Holds at least 65% in stocks ranked outside the top 100 by market capitalisation — a mid- and small-cap tilt — with unhedged short exposure of up to 25% of net assets.
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 | Open-ended |
| Subscriptions | Daily, at applicable NAV |
| Redemptions | Daily (business days); AMC may set a lesser frequency |
| Notice period | None stated (the ISID's notice-period field only restates daily redemption) |
| Cut-off and payout | 3.00 pm · Within 3 working days of the redemption date (normal circumstances) |
| Exit load | 1% of applicable NAV if units (purchased or switched in from another Magnum SIF strategy) are redeemed or switched out on or before 3 months from allotment; nil after 3 months |
| Listed on an exchange | Not listed |
| Expense ratio (Regular) | 1.77% base · 3.09% totalTotal adds brokerage, transaction costs and levies · AMFI · Regular plan · 4 Nov 2026 |
| Risk band (AMC-declared) | Level 5 of 5, as on 30 October 2026; reviewed monthly |
| Structure | Open-ended investment strategy under Magnum SIF (SBI Mutual Fund); SEBI category Equity Ex-Top 100 Long-Short Fund; units not listed (AMFI summary document) |
| Benchmark | BSE 500 TRI |
| Equity outside the top 100 (incl. REITs) | 65–100% of total assets |
| Equity of top 100 companies (incl. REITs) | 0–35% |
| Debt & money market | 0–35% |
| InvIT units | 0–20% |
| Units of mutual funds (incl. gold & silver ETFs) | 0–35%; gold through mutual fund units capped at 5% of NAV |
| Unhedged short cap | Non-hedging short exposure through derivatives up to 25% of net assets; total derivatives up to 100% of net assets; cumulative gross exposure capped at 100% of net assets |
| Overseas | Up to 35% of net assets (US$25 million overseas securities and US$10 million overseas ETFs in the six months after the NFO, then a 20% headroom on the previous three months' average overseas holdings) |
| Plans & options | Regular and Direct; Growth and IDCW (payout and reinvestment); default Growth, and IDCW Reinvestment within IDCW |
| Allotment / first NAV | Allotted 27 Aug 2026; re-opened and first NAV 2 Sep 2026 |
| Strategy code | MAGM/O/E/EELS/26/06/0002/SBIM |
| Fund managers | Gaurav Mehta |
Redemption terms from our liquidity record, checked 3 November 2026; sources: AMFI portal — Investment Strategy Information Document (S-33); AMFI portal — Investment Strategy Summary Document (SSD_S-33); undated, date is PDF metadata; SBI MF — Magnum SIF Notices & Addendums page, scheme and general lists for last 1 year (checked 3 Nov 2026); SBI MF — Magnum SIF factsheet, September 2026. 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
- AMFI — Investment Strategy Information Document (S-33)
- SBI Mutual Fund (Magnum SIF) — Investment Strategy Information Document (ISID)
- SBI Mutual Fund (Magnum SIF) — Key Information Memorandum (KIM)
- How a Equity Ex-Top 100 Long-Short strategy works, from SEBI’s rules
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