Sapphire Equity Long-Short
Equity Long-Short · Franklin Templeton · Full fund page, with SEBI-format performance
Holds at least 80% in equity and equity-related instruments, with unhedged short exposure of up to 25% of net assets taken through derivatives — an all-cap approach with a derivative overlay.
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 (all business days) |
| Redemptions | Daily (all business days) |
| Notice period | None (ISID: not applicable) |
| Cut-off and payout | 3.00 pm · Within the regulatory limit of 3 working days of a valid request (ISID notes AMFI's 2-day payment cycle) |
| Exit load | 1% if redeemed within one year of allotment; nil after |
| Listed on an exchange | Not listed |
| Expense ratio (Regular) | 2.10% base · 2.98% totalTotal adds brokerage, transaction costs and levies · AMFI · Regular plan · 3 Nov 2026 |
| Risk band (AMC-declared) | Level 5 of 5, as on 30 October 2026; reviewed monthly |
| Benchmark | Nifty 500 TRI. The ISID notes "The benchmark is most suited considering the investment objective and portfolio of the strategy." Benchmark risk band: Level 3 |
| Asset allocation | Indicative allocation as % of total assets: Equity and equity related instruments 80%-100%; Short exposure through unhedged derivative positions in equity and equity related instruments 0%-25%; Debt, money market instruments (excluding instruments/securities kept for margin purpose), InvITs, Exchange Traded Funds and units of debt mutual fund schemes 0%-20%. At least 65% of total proceeds are invested in equity shares of domestic listed companies |
| Unhedged short cap | 0%-25% of total assets as short exposure through unhedged derivative positions per the asset allocation table; the indicative table caps derivatives for non-hedging and other than hedging/portfolio rebalancing purposes at up to 25% of net assets in exchange traded derivative instruments. Derivatives for hedging and portfolio rebalancing: up to 50% of net assets |
| Plans & options | Growth Plan; IDCW Plan (with Reinvestment and Payout options); Direct - Growth Plan; Direct - IDCW Plan (with Reinvestment and Payout options). All plans have a common portfolio. Default Plan is Direct Plan; default Option is Growth; default IDCW facility is Reinvestment |
| Date of allotment | The ISID gives the NFO as opening 10th April 2026 and closing 24th April 2026, with the investment strategy re-opening on 04th May 2026; it does not state an explicit allotment date. Upstox's fund page reports "Launched On 29 Apr 2026." |
| Face value per unit | Rs 1,000 per unit. ISID: "Offer of units of Rs. 1000 each for cash during the New Fund Offer"; New Fund Offer Price "Rs. 1000 price per unit"; and "All the plans have a common portfolio. The face value of the Units is Rs.1000 each." |
| Fund managers | Arihant Jain |
Redemption terms from our liquidity record, checked 3 November 2026; sources: AMFI portal — Investment Strategy Information Document (S-16); AMFI portal — Investment Strategy Summary Document (SSD_S-16); undated, date is PDF metadata; Franklin Templeton — Sapphire SIF downloads, Updates tab, May–Oct 2026 (checked 3 Nov 2026; no liquidity changes); Franklin Templeton — Sapphire SIF factsheet as on 30 Sep 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
- Franklin Templeton — Sapphire Equity Long-Short SIF, Investment Strategy Information Document (ISID), dated March 26, 2026
- Franklin Templeton — Sapphire Equity Long-Short SIF, Key Information Memorandum (KIM)
- How a Equity 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